Collagen market is well established with plenty of suppiers with marine and plant collagen filling any void created by the reduction in bovine collagen as a result of MAD cow fears. Colltech has seriously over estimated the need for their product.
Even if their product is good what is the incentive for users to change from their existing suppliers. There are substantial development/testing costs and delays associated with introducing new ingredients which may explain why there has been no take up of the Colltech product.
I spent an hour with Glen Brune today and I can't say that I am confident that there is going to be any turn around in Colltech's fortunes in the near future. Glen Smith has moved on and there is a glimer of hope that Sue Lenton, who is currently in China can actual close some deals.
CAU Price at posting:
0.0¢ Sentiment: None Disclosure: Held
