Friday November 14th, 2008 - London
Pharmaceuticals company Phytopharm
Friday said Unilever has scrapped plans to develop a new SlimFast diet drink using one of its drugs.
Phytopharm signed a commercialization deal with Unilever in 2004 for its Hoodia extract, an appetite suppresant derived from plants used by tribes in the Kalahari desert.
Unilever intended to incorporate Hoodia into its SlimFast drinks range, analysts believed. But Phytopharm said Friday Hoodia didn't do well enough in a trial.
"Data from a recent clinical study using Hoodia extract in a drink-based product has led Unilever to conclude it it unsuitable to be taken forward by Unilever," Phytopharm said Friday.
The company Thursday said Chief Executive Daryl Rees and Chief Financial Officer Piers Morgan have left the business.
: Dowjones Business News