GelStat makes plans to turn around business and drive sales
GelStat Corporation chief executive officer Gerald Kieft on Tuesday outlined the company’s turnaround plans in an open letter to shareholders.
“While we have encountered a number of challenges expected with any turnaround situation, we are pleased to report the core fundamentals are sound and we are more excited than ever about the company’s prospects,” he wrote.
To date, the company has re-established distribution and product availability through Drugstore.com and Amazon.com and performed a physical inventory audit Sept. 13, tablulating 942,120 boxes of GelStat Migraine four count and GelStat Migraine eight count collectively. Kieft estimated the potential revenue from the sale of this inventory would fall between $3.2 million and $10 million depending on the sales channel.
Moving forward, GelStat plans to drive direct-to-consumer sales through cost per acquisition Internet campaigns, infomercials, television, radio and print advertising and to reseed its products through wholesalers and other distribution channels into retail.
Walgreens gives customers direction on cough-cold OTC dosing for children
DEERFIELD, Ill. Walgreens has said that it will advise its customers on the proper, safe use of over-the-counter cough and cold remedies by adding in-store signage to shelves and making its pharmacists available for consultations.
After the announcement from the CHPA Tuesday that cough-cold remedies should not be administered to children under age 4, many cough-cold remedy makers are revising their product labels to reflect the new dosing recommendations before the upcoming cold season. Walgreens has made a commitment to make sure the most current labeled cough and cold remedies will be available during the label-upgrading swap, and newly labeled products will be on shelves as soon as they are available.
The FDA has issued a statement that parents should take precautions when administering cough-cold medicines to children, including, checking active ingredients on the Drug Facts product labeling, avoiding given children two products with the same active ingredients at the same time, following directions, using the appropriate measuring instruments, selecting cough-cold medicines with child-proof caps, recognizing that cough-old remedies do not shorten the length of illness but only treat symptoms, not using cough-cold products for sedation and calling a doctor or pharmacist if any adverse reactions occur after administering.
Perrigo announces acquisition of Laboratorios Diba for $25 million
ALLEGAN, Mich. An American generic drug maker has acquired a Mexican manufacturer of store-brand OTC and prescription drugs.
Perrigo announced Tuesday that it had bought Guadalajara, Mexico-based Laboratorios Diba for $25 million in cash. The Allegan, Mich.-based Perrigo expects the acquisition to add $15 million to annual sales.
“Perrigo has been in the Mexican market for more than 65 years and is the leading supplier of prescription and OTC store-brand products there,” Perrigo chairman and chief executive officer Joseph Papa said in a statement. “The acquisition of Laboratorios Diba will enable us to market an additional 150 formulas and 50 trademarks into the rapidly growing Mexican store-brand market, saving consumers money on their healthcare options.”
The purchase of the Mexican company follows Perrigo’s September acquisition of Holland, Mich.-based JB Laboratories.