Tuesday, 30 March 2010 06:49 AM
Millennium Biotechnologies Group Inc. (MBTG.OB), the company whose products in the Clinical Nutrition and Sports Supplement Markets will soon be trading under the new Intergetics flag, may be close to an investment and product launch with Anheiser Busch InBev (NYSE: BUD) according to growing chatter on Wall Street.
Mark C. Mirken, President and Chief Operating Officer of Millennium Biotechnologies, Inc. told BioMedReports.Com on Monday that "One of our board members, Ken Sadowsky, sat on the board of Vitamin Water when it was sold to Coke and he has been shifting us through the process of and we're now in discussions with two of the largest bottling companies in the world who are looking for a product such as (the company's nutritional sports drink SURGEX) in the functional beverage category."
According to some reports, Anheiser Busch InBev would inject MBTG with a substantial capital investment "as competitive response to Pepsi's purchase of Muscle Milk for $600 million." The company would also help market the new sports drink line as a competitor to Muscle Milk.
The CEO disclosed Monday that within the next 30 to 60 days, the product will find it's way into over 3000 GNC (General Nutrition Centers, Inc.) stores, first as a powdered drink, and then as a "ready to drink" product within 2 to 3 months.
The micro-cap company is currently trading at a mere $.02.
A company spokesman would not confirm rumors that the group is also in negotiations with a major NFL star to promote the new sports product, but did confirm that they have "reached out in an effort to find someone who will become the face of our much anticipated sports drink."
Anheuser-Busch InBev ADRs are traded on the New York Stock Exchange under ticker BUD.
[Mike Deosdade covers the biotechnology sector for various print and on-line publications]