BMS plans IPO for Mead Johnson Nutritionals
NEW YORK Bristol-Myers Squibb plans to file a registration statement by year-end to sell between 10 percent and 20 percent of its Mead Johnson Nutritionals division through an initial public offering, the company announced Thursday along with its first-quarter 2008 results.
“After extensively considering strategic options, management believes this plan will allow Mead Johnson Nutritionals to implement its growth plans, increase shareholder value and maintain its important financial contribution to Bristol-Myers Squibb,” the company stated.
U.S. Nutritional sales of Mead Johnson increased 5 percent for the quarter ended March 31 to $288 million. The company cited increased sales of Enfamil as a signficiant driver behind that growth.
NAD cites Green Willow Tree for overstatement of Thyodine effects
NEW YORK The National Advertising Division of the Council of Better Business Bureaus on Wednesday recommended that Green Willow Tree discontinue certain advertising claims for its Thyodine dietary supplement product, including that its product is a “safe, all-natural hormone,” and that “Thyodine helps to stimulate the thyroid gland to produce normal amounts of thyroid hormone again.”
In its defense, Green Will Tree maintained that Thyodine includes vitamins, amino acids, minerals, supplemental glandulars and other ingredients that have been generally accepted in the scientific and medical community as beneficial to, and supportive of, thyroid function.
However, NAD determined that the advertiser’s claims go beyond the simple message that Thyodine contains ingredients that have been shown to help support a healthy thyroid.
The company, in its advertiser’s statement, noted that it does not “fully agree with the conclusions.”
However, the company said that it would adjust advertising for Thyodine to “attempt to meet the recommendations submitted … by NAD.”
The claims were challenged by the Council for Responsible Nutrition, a trade association of dietary-supplement manufacturers.
Court upholds Perrigo claim to market generic Pepcid
WASHINGTON The U.S. Court of Appeals for the Federal Circuit last week affirmed a lower court’s decision in June 2007 that opened the door to Perrigo’s store brand version of McNeil Consumer’s Pepcid Complete.
The ruling enables Perrigo to begin shipping the heartburn reliever in the third quarter of this year, according to published reports.