Mannatech
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Mannatech, Incorporated, is a multinational firm engaged in multi-level marketing , research, and distribution of glyconutrients. Its stock is traded on the NASDAQ exchange and as of 2007 has a market capitalization of about US $500 million, classifying it as a mid-cap corporation. Mannatech was founded in 1993 by Sam Caster and is headquartered in Coppell, Texas. It operates in the United States, Canada, Australia, the United Kingdom, Japan, New Zealand, Republic of Korea, Taiwan, Denmark and Germany.
Mannatech develops nutritional supplements, topical products, and weight-management products. The company formulates its major products using plant-derived, carbohydrate-based ingredients.
[edit] Products and Scientific Evaluation
As of December 31, 2005, the company offered 25 nutritional products, 3 topical products, and a weight-management system consisting of 4 different products. Mannatech is most widely known for Ambrotose, its lead product. Mannatech has not yet tested most of its products using controlled clinical studies, despite at least one request to do so.[1] All clinical studies done to date on Mannatech products have been been open-label studies (i.e. not controlled for placebo effect) with one exception - a study on asthmatic children that failed to show a beneficial effect to glyconutrient supplementation.[2]
[edit] Controversy
The company is known for its literature, websites and multilevel marketing with claims of scientific links to cellular glycobiology long disputed by the relevant individual Nobel prize winners.[3] A class-action lawsuit was filed against Mannatech in 2005 for alleged violations of the Securities Exchange Act.[4] The plaintiffs allege Mannatech made "materially false and misleading statements" with respect to its products. Mannatech is also currently under investigation by the Texas Attorney General's office for alleged violations of that state's Deceptive Trade Practices Act.[5] In response to these and similar criticisms, Mannatech CEO Sam Caster has offered his view: "We walk the fine line of always stating our case appropriately and always training our people: We're not into the treatment, cure or mitigation of disease. We're into the improvement of quality of life. Now, who can benefit from good nutrition? Sick people, well people, everybody. Everybody benefits from good nutrition."[6]
[edit] Footnotes
- ^ Cystic Fibrosis Foundation. Mannatech Optimal Health Products Statement. Cystic Fibrosis Foundation. June 23, 2006. Archive.
- ^ http://www.explorejournal.com/article/PIIS1550830706004162/fulltext#back-bib13
- ^ Robbins D. Nobel Prize winners say sites falsely cite research (Ft. Worth) Star-Telegram. September 10, 2006.
- ^ Lerach Coughlin Lerach Coughlin Announces Class Action Lawsuit Against Mannatech, Inc.
- ^ Greenberg H. Texas Attorney General probing Mannatech. Marketwatch. October 27, 2006.
- ^ Greenberg H. Texas Attorney General probing Mannatech. Marketwatch. October 27, 2006.
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