Greenstone announces generic Caduet
PEAPACK, N.J. — Greenstone, a generic pharmaceutical subsidiary of Pfizer, announced the introduction of amlodipine besylate/atorvastatin calcium tablets to its roster of products. The drug is the authorized generic versions of Caduet.
The drug is used for the treatment of high blood pressure (hypertension) and high cholesterol (hyperlipidemia). Greenstone’s amlodipine besylate/atorvastatin calcium tablets are available in the following dosage strengths: 2.5 mg/10 mg x 30; 2.5 mg/20 mg x 30; 2.5 mg/40 mg x 30; 5 mg/10 mg x 30; 5 mg/20 mg x 30; 5 mg/40 mg x 30; 5 mg/80 mg x 30; 10 mg/10 mg x 30; 10 mg/20 mg x 30; 10 mg/40 mg x 30; 10 mg/80 mg x 30; 5 mg/10 mg x 500; 5 mg/20 mg x 500; 5 mg/40 mg x 500; 10 mg/10 mg x 500; 10 mg/20 mg x 500; 10 mg/40 mg x 500.
Prestige Brands acquires Hydralyte to add to its Australian portfolio
TARRYTOWN, N.Y. — Prestige Brands on Tuesday announced the signing of a purchase agreement for the acquisition of Hydralyte in Australia and New Zealand from the Hydration Pharmaceuticals Trust of Victoria, Australia. The acquisition is expected to close, subject to customary closing conditions, during the company’s first quarter of fiscal 2015, which began on April 1, 2014.
"Hydralyte is a strong, strategic addition to our portfolio," stated Matthew Mannelly, Prestige CEO. "It is a high growth, market-leading OTC brand with a name synonymous with oral rehydration among both consumers and healthcare professionals. Hydralyte strengthens and complements our portfolio, is expected to double the revenues of our Australian subsidiary and is another step closer to our stated goal to grow our business in the Austral-Asia region to $100 million.”
According to Mannelly, the acquisition is projected to double the annual revenues of Care Pharmaceuticals, Prestige’s subsidiary in Australia, to approximately $50 million (AUD) for fiscal 2015, and is expected to be accretive to Prestige’s earnings per share for fiscal 2015, exclusive of transaction, integration and purchase accounting items. Prestige acquired Care Pharmaceuticals in July 2013.
“Hydralyte is well-positioned to benefit from both Care and Prestige’s core competencies in brand building and innovation. Care’s strong management team under the leadership of Malcolm Yesner has a long track record of successful brand building and driving sales growth by focusing on consumer needs, innovation and new products,” Mannelly said. “In the nine months since its acquisition, Care has already successfully integrated Prestige’s Murine eye care brands into its portfolio, and is now well-positioned to integrate the Hydralyte acquisition. We look forward to continuing to build and expand our strong portfolio in the fast-growing Austral-Asia region.”
Hydralyte is the leading over-the-counter brand in oral rehydration in Australia and New Zealand, and will be marketed and sold through Care Pharmaceuticals, Prestige noted in a release. Hydralyte is available in pharmacies in multiple forms and is indicated for oral rehydration following diarrhea, vomiting, fever, heat and other ailments.
Financial terms of the acquisition have not been disclosed.
TheraPearl to debut at Target
COLUMBIA, Md. — TheraPearl, a creator of therapy products, announced that its line of hot and cold pearl-filled packs will soon be available in Target stores across the country.
The company’s Back Wrap and Sports Pack are already available at Target.com and will make their brick-and-mortar debut in the First Aid section on April 19. While TheraPearl’s products have been available in Target Canada since last year, this announcement marks the first appearance of its products in Target’s U.S. stores.
"TheraPearl is excited to expand its U.S. retail presence with Target, which is one of the last major U.S. retailers we haven’t had the opportunity to partner with,” said Daniel Baumwald, president of TheraPearl. “This new retail relationship with Target is not only an ideal fit for our brand, but also extends the reach of our innovative products to millions of consumers across the country."
TheraPearl uses what it calls "pearl technology," which allows the packs to be chilled in the freezer or heated in the microwave but still remain pliable when they’re used on the body. TheraPearl’s Back Wrap is indicated for relief of upper-, mid- or lower-back pain, as well as abdominal cramps and muscle tenderness. The Sports Pack can be used after a workout for the treatment of aches, pains, swelling and redness.