Forbes Medi-Tech announces launch of cholesterol-lowering milk drink at Tesco Stores
The everyday retail price of the 1 Litre container is GBP 0.99. Earlier this year, Tesco launched a margarine spread, yogurt, and yogurt drink incorporating Reducol.
01/03/06 Forbes Medi-Tech Inc. has announced UK's largest retailer, Tesco Stores Ltd. (Tesco), has started selling a milk drink incorporating Forbes Medi-Tech's cholesterol-lowering ingredient, Reducol. The milk drink is marketed under the Tesco private label brand.
"The addition of a cholesterol-lowering milk drink to the range of Tesco products strengthens product positioning for Reducol(TM) and helps build market share for Tesco's private label brand," said Charles Butt, President and CEO of Forbes Medi-Tech. "Launching four products, incorporating Reducol(TM), with UK's leading retailer is a very promising start to the year."
The everyday retail price of the 1 Litre container is GBP 0.99. Earlier this year, Tesco launched a margarine spread, yogurt, and yogurt drink incorporating Reducol. Anticipated revenue resulting from the launch of Reducol-based products will be included in Forbes' 2006 revenue guidance, currently scheduled to be released during the first quarter of 2006.
Reducol is a unique ingredient containing plant sterols and stanols, commonly known as phytosterols, or "Sterols". The combination of a prudent diet and consumption of products containing the recommended amount of Reducol may help consumers lower their cholesterol by up to 24%.
The Tesco Group reported GBP$37.1 billion in sales for FY2005. It has 2,318 stores and employs 326,000 people in the 12 countries in which it operates. In Europe, outside the UK, it operates in Ireland, Hungary, Poland, Czech Republic, Slovakia and Turkey where it has 261 stores and 55,000 employees. In Asia it has 179 stores and 34,000 employees across its businesses in Thailand, South Korea, Taiwan, Malaysia and Japan. It is the market leader in 6 of the countries it trades in. Wherever it operates it has one core purpose "Creating value for customers to earn their lifetime loyalty" and two values "No-one tries harder for customers"; "Treat people how we like to be treated" that directs how it operates.
