Cold-Eeze Deal Puts Homeopathic Brand At Center Of Mylan Consumer Business
This article was originally published in The Rose Sheet
The $50m deal adds a homeopathic brand to Mylan's portfolio that will lead its US consumer lineup; ProPhase will focus on dietary supplements; leave behind seasonal-demand products.
You may also be interested in...
New Chapter founder Paul Schulick will introduce skin masks, cleansers and lotions with Algatech's topical astaxanthin to maintain skin microbiome. He also plans to launch nutraceuticals once a non-compete agreement with P&G, the owner of his former firm New Chapter, expires in 2020.
Mylan said it expects to cut less than 10% of its workforce under a restructuring to streamline operations following a series of acquisitions. The news comes amid a spate of negative publicity for the company, including a $465m settlement with the US Department of Justice over EpiPen.
The deal is subject to 90% of Meda shareholders tendering shares, and the two largest shareholders, accounting for about 30% of shares, already committed to the deal. Mylan will pay around $8.5bn in cash and debt and about $1.4bn in stock.