Benzinga | Oct 18, 2021 10:13AM EDT

ADM, Vland Form JV For Probiotics In China

* 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.