The Clover Corporation has welcomed news that four of its pharmaceutical-grade
tuna oils and its baked goods ingredient Driphorm have been confirmed as
Generally Regarded As Safe (GRAS) by the US authorities.
Shares in the company rose 5 cents yesterday as the endorsement opened up a
wealth of selling potential within the massive US health food market. The company
had posted an A$193m net loss in the H1 of its financial year, and a lack of
sales growth prompted the termination of a worldwide distribution agreement
with Merck KGaA.
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Clover is now investigating potential acquisitions and has revealed that it
will appoint US-based Hauser Inc as a distributor in Canada, America
and Mexico.
In a statement, Clover managing director Dr Erich Ott spoke about the endorsements:
"They will open one third of the potential world consumer market to Clover
and give access to the home country of many of the key global food companies."
