Impossible Foods won FDA approval for a key ingredient in plant-based burger patties, clearing the way for direct consumer sales in the US.
Impossible Foods has been given the go-ahead by the US Food and Drug Administration to sell its burgers in American groceries. The FDA said that soy leghemoglobin, a protein-based color additive Impossible Food uses to make its burgers look and"bleed" like real meat, was safe. This means Impossible is now a direct competitor to Beyond Meat, and in premarket trading Beyond was down 6%, set to wipe over $700 million off its market capitalization. View Markets Insider for more stories.
Impossible Foods has been given the go-ahead by the US Food and Drug Administration to sell its burgers in American groceries. The FDA said that soy leghemoglobin, a protein-based color additive Impossible Food uses to make its burgers look and"bleed" like real meat, was safe. This means Impossible is now a direct competitor to Beyond Meat, and in premarket trading Beyond was down 6%, set to wipe over $700 million off its market capitalization. View Markets Insider for more stories.
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