Shares of Medifast Inc MED, a seller of weight loss and weight management products, were trading lower by more than 2 percent on Wednesday despite the company's announcement that it plans on expanding its product line.
Medifast announced that it will launch a new sports nutrition product line that will be branded as Dual Fuel™. The company noted that it plans on expanding its distribution channel to include universities, sports retailers and online sites.
Medifast added that its sports bars are designed to provide the "right combination of carbohydrates and protein to help meet energy needs and fuel recovery after exercise." In addition, the company's ready-to-drink shakes provide a "good source of antioxidant vitamins A, C, & E."
Both products were designed in partnership with the Rutgers Athletic department to deliver great taste while remaining NCAA compliant.
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