Nutrition 21
This article was originally published in The Tan Sheet
Executive Summary
Purchase, N.Y.-based firm places Lite Bites nutrition bar line up for sale after determining the brand "would require a much larger investment in marketing than the company believed was justified," according to Nutrition 21's 110-K/A, filed with the SEC Dec. 24. Over past year, firm attempted to find alternative cost-effective channels of distribution, including pursuing a retail distribution alliance with Leiner Health Products (2"The Tan Sheet" Nov. 4, 2002, p. 16). Nutrition 21 reports net sales dropped 28% to $10.3 mil. in fiscal 2003 due to "unsatisfactory results in the marketing" of the Lite Bites line. Separately, company expects to complete its large-scale Diachrome clinical trial, which is evaluating the dietary supplement's effect as a nutritional adjunct to standard care for diabetics, by the end of 2004...
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