Deal could net $100m for Seventh day Adventists' Sanitarium

Deal could net $100m for Seventh day Adventist’s Sanitarium

Friday, March 6th, 2015

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Food giant Sanitarium, the tax-exempt manufacturer of Weet-Bix and Marmite, is expected to reap significant financial returns from the sale of a United States-based drug developer’s intellectual property to a Nasdaq-listed pharmaceutical firm.

The deal could net Asklepion Pharmaceuticals – reportedly controlled by Sanitarium’s shareholder, the Seventh day Adventist Church – more than $100 million over the next few years, plus royalties. Continue reading

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News category: New Zealand, News Shorts.

Tags: Seventh Day Adventists, Taxing churches

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