One of Taiwan's largest non-alcoholic drink manufacturers is launching a cholesterol-lowering drink incorporating Forbes Medi-Tech Inc.'s (TSX:FMI) Reducol product.
The milk drink marketed by Uni-President Enterprises Corp., one of Taiwan's largest conglomerates, will be sold in China under the UPEC brand.
Uni-President is banking on China's expanding market and growing middle class to increase the demand for higher-end food products. It's planning on creating one of the largest food marketing companies in China.
Fresh milk consumption in China is projected to increase tenfold in the next decade, reducing the country's dependence on powdered milk.
Forbes' Medi-Tech's share price range in the past week: between $0.71 and $0.77; 52-week high: $3; 52-week low: $0.58.