09.01.03
Martek Biosciences Corporation, Columbia, MD, has signed a worldwide license agreement with Nestlé, Vevey, Switzerland, for Martek’s technology relating to DHA and ARA in infant formulas. The agreement provides for an initial cash payment, consisting of a license fee, inventory prepayment and ongoing royalties based on Nestlé’s sales of infant formula containing Martek’s oils.
In other developments, Nestlé and Colgate-Palmolive Company, New York, NY, have formed an agreement to pursue on a worldwide basis the development, marketing, distribution and sale of a portfolio of portable oral care products. The initial product of the collaboration will be Colgate Dental Gum, which is in its current test markets of the U.K., Ireland and Canada. Expansion of this product and other new products will depend on the success in these initial markets. The agreement, which is subject to customary conditions, including any required regulatory approvals, is expected to become effective in early 2004.
In other developments, Nestlé and Colgate-Palmolive Company, New York, NY, have formed an agreement to pursue on a worldwide basis the development, marketing, distribution and sale of a portfolio of portable oral care products. The initial product of the collaboration will be Colgate Dental Gum, which is in its current test markets of the U.K., Ireland and Canada. Expansion of this product and other new products will depend on the success in these initial markets. The agreement, which is subject to customary conditions, including any required regulatory approvals, is expected to become effective in early 2004.