Novartis

Reducol cholesterol-lowering phytosterol licensed to functional food marketers in U.S. and Australia. Novartis, the exclusive licensee of the Phytrol-containing ingredient developed by Vancouver, B.C.-based Forbes Medi-Science, strikes deal with Pacific Foods of Oregon for Heart Health soy-based beverages and with the Australian marketer of Uncle Tobys Logicol cereal bars. Forbes Medi-Science projects U.S. revenues of $10 mil.-$12 mil. for FY 2001. Novartis submitted a 75-day premarket notification for the new dietary ingredient June 19, but is awaiting FDA's response before itself marketing products containing Reducol