MusclePharm Lines Up Down Under, US Distributors To Dip Toe In Energy Beverages, Appoints President
It's working with former Rockstar energy drink brand executive to move into the energy drink space after previous false starts. Also names former Yum! Brands executive Sabina Rizvi president and CFO.
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MusclePharm whittled its product line from 450 to 120 SKUs and is shifting its distribution focus in the US from specialty retail to Amazon and Costco. The firm also cut operating costs, spending $10m less in 2017 than in 2016.
Ryan Drexler buys a $6m promissory note bearing 8% annual interest, convertible to shares priced at $2.30, two months after committing $6.2m to guarantee existing bank loans for the sports nutrition firm.
Changes for supporting OTC labeling for drugs currently available Rx-only and indicated for chronic, more complicated conditions, aren’t minor and won’t happen within limits of one-dimensional text media printed on OTC drug containers, packages and inserts.