Hi-Tech enhances weight loss portfolio with FormuTech acquisition
NORCROSS, Ga. — Hi-Tech Pharmaceuticals on Wednesday announced its acquisition of FormuTech, a leading provider of premium weight loss and bodybuilding products in the sports nutrition category. FormuTech produces Lean EFX, a weight loss aid, for example.
"The combination of these two great companies accelerates Hi-Tech's Sports Nutrition growth strategy, substantially boosts our Sports Nutrition portfolio and diversifies our business stream," stated Jared Wheat, Hi-Tech chairman, president and CEO. "We believe this strategic transaction will enhance our industry-leading sports nutrition position by expanding market opportunities. FormuTech brings strong relationships to enhance our position with sports nutrition distributors, and a highly experienced management team to support Hi-Tech's continued growth."
"Lean EFX products will serve as a growth catalyst for our weight loss segment, providing this division with another leading brand in the high-growth sports nutrition category," added Steve Smith, EVP Hi-Tech Pharmaceuticals. "The acquisition of FormuTech expands our offerings of mainstream, weight loss and sports nutrition products, including protein-rich foods, and broadens our appeal with younger consumers."
Nature Made introduces suite of advanced probiotics
NORTHRIDGE, Calif. – Nature Made announced Tuesday the introduction of a new digestive probiotic. Developed to provide a better solution versus most single-strained probiotics, Nature Made Advanced Dual Support targets both parts of the digestive tract, which helps support digestive flora balance with the added benefit of supporting regularity.
In addition to the Advanced Dual Support Probiotic, Nature Made also launched a suite of probiotic products designed to meet the specific daily health needs of consumers, and include Women's, Men's, Prenatal and Daily Balance.
"By expanding our probiotics line to target individual needs, we are able to offer a more customized approach to our consumers' digestive health," stated Jamie Sakaguchi, brand manager for Nature Made. "We also know consumers are turning to probiotics to help with digestive balance, and our new Advanced Dual Support provides two, high-quality, scientifically-studied probiotics to provide comprehensive digestive coverage."
Actavis, Perrigo launch NBE to Mucinex D
DUBLIN – Actavis and its partner Perrigo announced Tuesday that Actavis has received U.S. Food and Drug Administration approval for its abbreviated new drug application for guaifenesin/pseudoephedrine tablets and that Perrigo will begin shipments in time for the cough/cold season to its retail and wholesale customers in the U.S. The product will be packaged and marketed under store and proprietary brands and will be a high quality, value alternative to Mucinex D tablets.
Mucinex D tablets, an expectorant indicated to relieve chest congestion and make coughs more productive, had sales of approximately $83 million through food, drug and mass merchandisers over the last 12 months, according to the companies.
"The FDA's approval of this complex product highlights the strength of Actavis' world-class generic R&D capabilities and underscores our commitment to continued innovation within our generics business," stated Robert Stewart, EVP Actavis and president, generics and global operations.
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