- Archer-Daniels-Midland Co (NYSE:ADM) and Qingdao Vland Biotech Group Co Ltd (Vland) have formed a joint venture to serve the growing Chinese demand for human probiotics. The financial terms of the arrangement were not disclosed.
- The 50-50 joint venture will manufacture and sell human probiotics, bringing together the companies’ technology, production, and commercial capabilities.
- The parties expect the joint venture to launch in the first half of 2022.
- Vland and ADM aim to capture China’s retail demand for probiotics, estimated to be $1 billion in 2022, with more than 9% annual growth.
- Price Action: ADM shares are trading lower by 0.18% at $63.83 on the last check Monday.
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