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News to break the silence:
Well folks, is it time for me to buy some more & lower my break-even point? This co's got to break into the US market & onto the front pages SOME time!
COLUMBIA, Md.--(BUSINESS WIRE)--Dec. 3, 1998--
15 More Preterm Formula Introductions Including China and Russia
Martek Biosciences Corporation (NASDAQ: MATK.O) today announced
that its nutritional oils have been introduced in premium term infant
formula in three additional markets and in preterm infant formula in
15 additional markets. The term markets are Hong Kong, Kuwait, and the
United Arab Emirates. The new preterm country introductions span the
globe in Asia, Africa, Central America, Europe and include the
People's Republic of China and Russia. To date, seven markets now have
term infant formulas with Martek's oils. In total, four licensees are
selling supplemented infant formulas with Martek's oils in
approximately 50 countries.
"There have been introductions in 33 countries in 1998," said
Henry Linsert, Jr., Martek's Chairman and CEO. "We anticipate more
overseas term introductions will be on the way. Parents, despite where
they live, will buy the best possible nutrition for their children."
Martek's DHA (docosahexaenoic acid) and ARA (arachidonic acid)
oils are vegetable oils containing two essential long chain
polyunsaturated fatty acids, DHA and ARA, which are fundamental
building blocks of the brain and the retina. DHA and ARA are naturally
delivered to babies through breast milk.
This press release contains forward-looking statements regarding
the commercialization of Martek's oils. Such statements involve risks
and uncertainties that could cause future actual results to differ due
to a variety of risk factors, including without limitations to those
factors set forth in Exhibit 99.1 to the Company's Form 10-Q for the
fiscal quarter ended July 31, 1998 and from time to time in the
Company's filings with the Securities and Exchange Commission.
Martek Biosciences Corporation develops, manufactures and sells
products from microalgae. The Company's products include: (1)
specialty, edible oils for infant formula, nutritional supplements and
food ingredients that play a beneficial role in promoting mental and
cardiovascular health, and in the development of the eyes and central
nervous system in newborns; (2) high value reagents to visualize
molecular interactions for drug discovery and development and; (3)
new, powerful fluorescent markers for diagnostics, rapid miniaturized
screening, and gene and protein detection. --30--jc/ny*
CONTACT: Peter Buzy Chief Financial Officer or
Gregg Lampf Corporate Communications
(410) 740-0081 KEYWORD: MARYLAND
INDUSTRY KEYWORD: MEDICINE BIOTECHNOLOGY PHARMACEUTICAL FOODS/BEVERAGES
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