BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Kaneka Announces Increase in CoQ10 Prices


1/3/2013 9:19:43 AM

PASADENA, Texas, Jan. 3, 2013 /PRNewswire/ -- In response to evolving market conditions, Kaneka North America has announced that it will increase its price on CoenzymeQ10 (CoQ10 as ubiquinone) by 10% effective mid-January 2013. Kaneka cites causes for the price increase as escalating costs of raw material inputs, growing market demand and decreased global manufacturing capacity. This decreased capacity is due to the announced departure of Japanese manufacturer Mitsubishi Gas Chemical from the market in March 2013.

Richard Weis, Vice President of Sales & Marketing for Kaneka states: "We have seen a decisive upward trend in the price of CoQ10 over the past 18 months. Although Kaneka regrets any increase in price to its customers, mounting stressors on margin and supply have necessitated that we follow the market up." Weis continues, "The impending Mitsubishi withdrawal from the CoQ10 market will shift 15 to 20 metric tons of annual volume to Kaneka and other suppliers."

After March of this year Kaneka will stand as the sole manufacturer of CoQ10 in the U.S. and Japan. Weis adds: "Kaneka will be significantly impacted by the departure of Mitsubishi as many customers require their material to be of U.S. or Japanese origin." Kaneka was the first company to commercialize natural CoQ10 as a drug for congestive heart failure nearly 40 years ago. Today, CoQ10 is one of the top-selling dietary supplements on the U.S. market.

Kaneka Nutrients is a division of Kaneka North America LLC and a wholly-owned subsidiary of Kaneka Corporation, headquartered in Osaka, Japan.

Contact: John Jarmul
Company: Kaneka North America
Telephone: 281-291-4423
Email address: john.jarmul@kaneka.com
Website address: www.kanekanutrients.com

SOURCE Kaneka North America



Read at BioSpace.com

 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES