Bionutrics, Inc. Extends Agreement With Novartis Nutrition.PHOENIX--(BUSINESS WIRE)--April 22, 1999-- Bionutrics Inc. (Nasdaq: BNRX) today announced that it has extended its agreement with Novartis Novartis International AG (NYSE: NVS) is a multinational pharmaceutical company based in Basel, Switzerland that manufactures drugs such as diclofenac (Voltaren), carbamazepine (Tegretol), valsartan (Diovan), imatinib mesylate (Gleevec / Glivec), cyclosporin A (Neoral / Nutrition, a subsidiary of Novartis AG Novartis AG Swiss pharmaceutical company. It was formed through the 1996 merger of two Swiss firms: Ciba (see Ciba-Geigy) and Sandoz, a chemical company with interests in pharmaceuticals, nutrition, and agriculture. . Under the original agreement, Novartis Nutrition made an initial investment in Bionutrics by purchasing $3 million of Bionutrics stock and has been granted exclusive worldwide rights to evaluate Bionutrics' patented technology and rice bran-derived products for potential application as functional food ingredients. Novartis has elected to extend the current option agreement through the end of July July: see month. 1999. Novartis Nutrition is a division of Novartis, a world leader in Life Sciences with core business in Healthcare, Agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. and Nutrition. Headquartered in Basel, Switzerland, Novartis employs about 87,000 people and operates in over 100 countries. Bionutrics is an emerging biopharmaceutical company founded to discover and develop novel, biologically active compounds derived from natural sources. Natural, biologically active compounds have applications as ethical drugs as well as functional food ingredients and dietary supplements Noun 1. dietary supplement - something added to complete a diet or to make up for a dietary deficiency diet - a prescribed selection of foods vitamin pill - a pill containing one or more vitamins; taken as a dietary supplement . |
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