MusclePharm Corporation (OTCBB:MSLP), one of the fastest growing nutritional supplement companies in the United States, reports that the National Association of People with AIDS (NAPWA) requests the approval of MusclePharm�s Recon nutritional supplement to the New York State Medicaid list of prescription medications.
MusclePharm�s Recon Nutritional Supplement contains important amino acids, assisting in reaching the higher levels of nutrition required for people living with HIV. MusclePharm�s Recon Nutritional Supplement is easily digestible and helps the absorption of amino acids and proteins. It contains essential minerals, digestive enzymes, Glutamine and other metabolic agents that maximize recovery, protein synthesis and endurance.
Nutritional Supplementation has long been utilized within the HIV community to maintain and support muscle mass and help strengthen the immune system. Whey protein has been shown thru various credible studies to aid in the growth of muscle mass. Unlike other Medicaid available proteins, MusclePharm�s Recon helps to burn fat while building muscle. This is a factor essential to people living with HIV, especially those on antiviral regimens where unwanted fat may be an issue in those who often battle muscle depletion.
In related news, MusclePharm appointed Mariel Selbovitz, MPH, as Director of Global Therapeutics Product Procurement Development.
�We are thrilled to have Ms. Selbovitz join the MusclePharm team as we enter the therapeutic, nutritional supplementation market that is focused on products to meet the nutritional requirements of people living with HIV/AIDS,� stated Cory Gregory, MusclePharm�s President. �MusclePharm is working to greatly expand our sales of therapeutic, nutritional supplementation and provide increased help to people in need across the globe.�
Cyanotech Corporation (Nasdaq:CYAN), a world leader in microalgae-based, high-value nutrition and health products, reports financial results for the first quarter of fiscal 2011, ended June 30, 2010.
For the first quarter of fiscal 2011 compared to the first quarter of fiscal 2010, revenues were $3,856,000 compared to revenues of $4,021,000. Gross profit was $1,659,000, with gross profit margin of 43%, compared to gross profit of $1,733,000 and gross profit margin of 43%. Net income was $399,000, or $0.07 per diluted share, compared to $413,000, or $0.08 per diluted share.
�Cyanotech�s performance was steady in the first quarter of fiscal 2011 for both our bulk raw material Spirulina and Astaxanthin products and our branded packaged products,� said David I. Rosenthal, Interim President and CEO. �As a world leader in the production and marketing of high-value natural products from microalgae, we are putting increased emphasis on our Nutrex Hawaii consumer products to introduce them to a broader consumer market than in prior years, principally domestic. Our marketing team is making good progress with new retail outlets, both major chain stores and their online stores.�
Cyanotech Corporation, a world leader in microalgae technology, produces BioAstin Natural Astaxanthin and Hawaiian Spirulina Pacifica�all natural, functional nutrients that leverage experience and reputation for quality, building nutritional brands which promote health and well-being. Cyanotech’s Spirulina products offer complete nutrition, and augment energy and immune response. They are FDA reviewed and accepted as Generally Recognized as Safe (GRAS) for use in food products. BioAstin’s superior antioxidant activity and ability to support and maintain a natural anti-inflammatory response enhance skin, muscle and joint health. All Cyanotech products are produced from microalgae grown at its 90-acre facility in Kona, Hawaii using patented and proprietary technology. Cyanotech distributes to nutritional supplement, nutraceutical and cosmeceutical manufacturers and marketers in more than 54 countries worldwide. Cyanotech was the first microalgae company in the world to obtain quality management standards ISO 9001:2000 certification and is GMP-certified by the Natural Products Association.
USANA Health Sciences, Inc. (NASDAQ: USNA) has acquired BabyCare Ltd, a China-based direct selling company that develops, manufactures and sells nutritional products for the entire family, with an emphasis on infant nutrition. Founded in 1999, privately held BabyCare Ltd is headquartered in Beijing, China, with operations in 21 cities and 16 provinces. BabyCare�s products are sold through a growing distributor sales force, utilizing a commission-based compensation plan under a license to engage in direct selling activities in the Municipality of Beijing. BabyCare is working to obtain similar licenses in the other provinces in which it operates. This direct selling license allows BabyCare to engage non-employee distributors to sell BabyCare�s products, apart from the company�s traditional service centers.
The acquisition of BabyCare was accomplished by acquiring Pet Lane Inc., a Delaware corporation, who is the parent company of BabyCare in China. The transaction was entered into and closed according to the definitive terms of a share purchase agreement. The purchase price for the shares consisted of $45 million in cash and 400,000 shares of USANA stock. The details of the transaction will be filed shortly in Forms 8-K.
USANA develops and manufactures high quality nutritional, personal care and weight management products that are sold directly to Associates and Preferred Customers throughout the United States, Canada, Australia, New Zealand, Hong Kong, Japan, Taiwan, South Korea, Singapore, Mexico, Malaysia, the Philippines, the Netherlands and the United Kingdom.
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