Leiner To Bolster OTC Capabilities With Purchase of PFI Assets
This article was originally published in The Tan Sheet
Executive Summary
Private-labeler Leiner expects to significantly expand its OTC presence and market share with the proposed purchase of assets from Edison, N.J.-based Pharmaceutical Formulations, Inc. (PFI)
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Leiner/PFI
Leiner Health Products completes its acquisition of "substantially all" assets related to Pharmaceutical Formulations' (PFI) "solid dose pharmaceutical products business" for $23 mil. in cash, Leiner announces Sept. 26. In addition to opportunities in pain management in both OTC and supplement areas, the acquisition "allows us to enhance our contract manufacturing capabilities and expands our OTC product offering and customer base," CEO Robert Kaminski says. Leiner concurrently announces that it has amended its credit agreement, which "will enhance the company's flexibility to manage the business and support the acquisition." Leiner's plans to acquire PFI's assets were made known shortly after the Edison, N.J.-based company declared bankruptcy in July (1"The Tan Sheet" July 18, 2005, p. 4)...
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Increased ibuprofen opportunities from the planned acquisition of Pharmaceutical Formulations, Inc. (PFI) will help build Leiner's pain management category to $200 mil. by the end of the year, CEO Bob Kaminski claimed Aug. 10