Key Developments For Martek Biosciences Corp
Martek Biosciences Corp (MATK.O) (Nasdaq)
Martek Biosciences Corp. Announces Settlement of Patent Dispute with Capsugel France
Martek Biosciences Corp. announced it has resolved a patent dispute with Capsugel France. The resolution follows Martek's November 2008 action for infringement filed in the High Court of Strasbourg, France. As a result of this settlement agreement between Martek and Capsugel France, Capsugel and all of its affiliates have agreed to purchase all of their algal DHA exclusively from Martek for the life of the patent in question. Additionally, Martek and Capsugel will develop a product containing Martek's algal DHA in Capsugel's Licaps liquid-filled hard capsules. This settlement agreement between Martek and Capsugel does not include Martek's action against Lonza Ltd AG, which continues.
Federal Circuit Rules In Martek Biosciences Corp.'s Favor In Appeal Of Patent Infringement Case
Martek Biosciences Corp. announced that a panel of judges on the United States Court of Appeals for the Federal Circuit has ruled in Martek's favor in appeal proceedings related to a patent infringement lawsuit between Martek and Lonza, Ltd., Nutrinova Inc. and Nutrinova Nutrition Specialties & Food Ingredients GmbH (collectively Lonza). The appeals involve Lonza's U.S. sale and use of DHA in functional foods and dietary supplements and do not involve Martek's core infant formula patents. Lonza has the right to request a re-hearing.
Martek Biosciences Corp. Issues Q4 2009 Guidance In Line With Analysts' Estimates; Lowers Top End Of Prior FY 2009 Earnings Guidance In Line With Analysts' Estimates; Lowers FY 2009 Revenue Guidance
Martek Biosciences Corp. announced that for the fourth quarter of 2009, it expects total revenue to be between $87 and $92 million, net income to be between $10.4 and $11.8 million, and diluted earnings per share (EPS) to be between $0.31 and $0.35. For fiscal 2009, the Company expects total revenue to be between $345 and $350 million, net income to be between $40 and $41.4 million, and diluted EPS to be between $1.20 and $1.24. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.34 and net profit of $10.9 million on revenue of $92 million for the fourth quarter of 2009; EPS of $1.23 and net profit of $40.0 million on revenue of $353 million for fiscal 2009.
Martek Biosciences Corp. Signs Sole-Source Supply Agreement with Milk Powder Solutions
Martek Biosciences Corp. announced that it has entered into a multi-year, sole-source supply agreement with Milk Powder Solutions, based in Australia. Under the terms of the agreement, Martek will serve as Milk Powder Solutions' exclusive supplier for all of its ARA needs for infant formula products in China and Vietnam under the Gold Cow brand name.
Martek Biosciences Corp. Signs Sole-Source ARA Supply Agreement with Puleva Food S.L.
Martek Biosciences Corp. announced that it has entered into a multi-year sole-source supply agreement with Puleva Food for the use of life'sARA in infant formulas produced by Puleva and sold in Spain.
