Hi-Tech Pharmaceuticals picks up four Innovative sports nutrition brands
NORCROSS, Ga. – Hi-Tech Pharmaceuticals on Tuesday acquired Innovative's brand of diet aids.
"The acquisition of the Innovative brand of diet and energy aids accelerates Hi-Tech's sports nutrition and weight loss growth strategy, substantially boosts our weight loss 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 weight loss and sports nutrition position by expanding market opportunities. Innovative has strong distribution to enhance our position with sports nutrition distributors and retail outlets," he said.
Innovative produces Black Mamba Hyperrush, Diablos ECA Fire Caps, Diablos Hyperburn and Hell Fire.
Just the sports nutrition category, which includes powdered and ready-to-drink, grew by 13% in 2013, Hi-Tech reported, in what the company defines as a $30 billion category. The largest portion of the sales in that market comes from sports and energy drinks and shots, which make up 56% of sales ($17.1 billion). The second largest category is sports nutrition supplements at 15% ($4.5 billion), followed closely weight-loss meal replacement supplements at 11% ($3.3 billion) and Weight-loss pill-form supplements at 6% ($2 billion).
"The acquisition of Innovative expands our offerings of mainstream, weight loss and sports nutrition products, including protein-rich foods, and broadens our appeal with younger consumers," commented Steve Smith, Hi-Tech EVP.
Cardinal Health closes Harvard Drug Group deal
DUBLIN, Ohio – Cardinal Health on Monday closed its $1.1 billion acquisition of The Harvard Drug Group, a distributor of generic pharmaceuticals and OTC medications.
In addition to enhancing the company's generic pharmaceutical distribution business, the acquisition expands Cardinal Health's existing telesales programs and capabilities; broadens the company's portfolio of over-the counter products; and brings specialized packaging offerings to meet the needs of hospital systems and other institutions.
The Harvard Drug Group had revenues of approximately $450 million in 2014.
CRN seeks to prevent sleepless nights with new melatonin guidelines
WASHINGTON — The Council for Responsible Nutrition on Tuesday released new guidelines for the natural sleep aid melatonin, suggesting a daily regimen of no more than 10 mg. CRN is also advising that labeling include a call to consult a healthcare professional before long-term use, before giving to children and before use in pregnant or nursing women.
“With the current popularity and wide usage of melatonin supplements for sleep support, CRN wanted to clarify responsible labeling and marketing practices for its member companies, and for the industry, by developing science-based voluntary guidelines to help ensure these products best serve consumers safely,” said Andrea Wong, VP scientific and regulatory affairs, CRN. “CRN encourages all dietary supplement manufacturers and marketers to follow these recommendations.”
In making its recommendations, CRN reviewed various dosages assessed in clinical studies, as well as by scientific and regulatory authorities such as the Institute of Medicine and Health Canada.
CRN’s guidelines are based on the totality of the evidence available on melatonin for sleep support – melatonin for other purposes is outside the scope of these guidelines.
CRN recommends that dietary supplement companies comply no later than 12 months after the effective date of June 18, 2015.
CRN’s recommended guidelines for melatonin are the latest in a series of proactive, science-based guidelines that the association has developed as part of its self-regulatory initiatives. CRN also has voluntary recommended guidelines for: iodine quantity in multivitamin/mineral supplements for pregnancy and lactation; caffeine-containing dietary supplements; and labeling of protein in dietary supplements and functional foods; as well as best practices for enzyme dietary supplement products and safety considerations for dosage recommendations and labeling.
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