Cholestin
This article was originally published in The Tan Sheet
Executive Summary
New formulation contains Policor (policosanol), "beeswax-based" proprietary ingredient that inhibits cholesterol synthesis in liver, Pharmanex says July 9. NuSkin Enterprises division removed original red yeast rice-containing Cholestin from market following Utah federal court decision favoring FDA determination the product was a drug because it contained lovastatin, the active ingredient in Merck's Mevacor (1"The Tan Sheet" May 7, p. 15). Once-daily formula developed by Hauser replaces twice-daily red yeast rice dosage and is made with novel PoliSorb softgel delivery system. Thirty-count bottles marked "new and improved" are priced at $39.95
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Pharmanex
Cholestin marketer secures exclusive multi-level marketing channel rights to Policor policosanol under agreement with Hauser, firms announce Oct. 3. Hauser becomes sole supplier of beeswax-derived ingredient for use in Pharmanex' Cholestin, Cardio Formula supplements. Two days earlier, Hauser announced it exercised an option to purchase policosanol technology, intellectual property rights from an unidentified "developmental start-up company" for undisclosed terms. Hauser has manuyfactured Policor since February; Pharmanex debuted reformulated Cholestin in July after losing a lengthy court battle with FDA over use of red yeast rice in the product (1"The Tan Sheet" July 16, In Brief)
Pharmanex
Supplement marketer drops appeal of Salt Lake City federal judge's March decision affirming FDA's determination company's Cholestin red yeast rice product is a drug. Firm originally appealed the ruling May 31, but filed a motion to dismiss the appeal Sept. 10, one day before its opening brief was due to be filed with the 10th Circuit U.S. Court of Appeals in Denver. Difficulties in prevailing on appeal, litigation costs contributed to company's decision. Firm introduced a reformulated version of Cholestin in July (1"The Tan Sheet" July 16, In Brief)
Pharmanex
Q2 sales total $95.3 mil., down 1% on reported basis, but up 10% in local currency terms. Sales boosted by relaunch in Japan of company's LifePak supplements, reformulated to capsules from tablets. In addition, 30% of firm's sales during period were generated by automatic monthly reorders, an increasingly important transaction to the business, Pharmanex notes. Outside U.S., sales for Cholestin rose 10% from first quarter. Reformulated version of the supplement, excluding red yeast rice, launched stateside in July (1"The Tan Sheet" July 16, In Brief)