@@img1 VANCOUVER (Dow Jones)–Leading Brands Inc. (LBIX) launched a new beverage brand called Soy20 to target the multibillion soy-based drink market.
Soy20 is a combination of fruit flavored water and natural soy isoflavones, which are reputed to have health benefits.
In a press release Tuesday, the beverage company said the drink, which was launched at the National Association of Convenience Stores Convention, will start shipping in 45 days.
Leading Brands Chief Executive and Chairman Ralph D. McRae told Dow Jones Newswires that it is too early to tell what the financial implications of Soy20 will be on overall sales results, but noted that the company will begin to see the impact of Soy20 in the fourth-quarter.
The market for soy-based drinks in North America is already several billion dollars per year, Leading Brands said.
Leading Brand’s common stock recently rose 6.1%, or 7 cents, to $1.22, on heavy volume of 84,150 shares. Average daily volume is 59,881 shares.
-Mohammed Hadi; Dow Jones Newswires; 201-938-5400