Physicians Formula receives acquisition proposal
AZUSA, Calif. — Beauty brand Physicians Formula Holdings has received an unsolicited, nonbinding proposal to acquire all its outstanding shares of common stock at a price of $4.90 per share.
The proposal is subject to several conditions, including the completion of due diligence and securing of financing commitments by the third party who submitted the proposal and the negotiation of a mutually acceptable definitive agreement.
In accordance with the terms of the merger agreement that was entered into on Aug. 14 between the company and affiliates of private equity firm Swander Pace Capital, the company and its representatives are in discussions and negotiations with the third party who submitted the acquisition proposal.
As discussions and negotiations with the third party could terminate at any time, the company stated that its board of directors has not changed its recommendation with respect to the company’s pending merger with affiliates of Swander Pace Capital to be effected pursuant to the merger agreement. The company’s board of directors is continuing to evaluate the acquisition proposal.
Cetaphil, Camp Wonder team up to help children with serious skin diseases
FORT WORTH, Texas — The Cetaphil line of cleansers and moisturizers from Galderma Labs has teamed up with Camp Wonder, an initiative of the Children’s Skin Disease Foundation, and will sponsor the organization by donating a portion of the proceeds of a special-edition moisturizing cream, available exclusively at Walgreens. The brand also is granting $100,000 to fund camp activities and more.
The official partnership kicked off in June to coincide with the annual Camp Wonder.
Camp Wonder is a medically staffed summer program that gives children ages 7 to 16 years, who suffer from serious and fatal skin diseases, the opportunity to feel "normal" and simply have fun. The weeklong camp is fully funded by The Children’s Skin Disease Foundation, an organization founded in May 2000 by Francesca Tenconi. As an adolescent, Tenconi suffered from a potentially life-threatening skin disease and missed out on normal childhood activities. Throughout her treatment, she met other kids who suffered from skin problems that never got the chance to attend a summer camp. She wanted to use her experience to help others, so on her 16th birthday, she asked friends and family to help her create a charity instead of giving her gifts. Days later, Tenconi formed the CSDF and in 2001 she launched Camp Wonder.
The Cetaphil brand’s sponsorship of Camp Wonder will take shape through various initiatives. To raise awareness of Camp Wonder, a special-edition of its Cetaphil moisturizing cream features artwork created in collaboration with Tenconi and will be sold exclusively through Walgreens. A portion of the proceeds from the sale of each jar will go to Camp Wonder and the CSDF. Galderma Labs employees volunteered at this year’s camp and provided Cetaphil products to use on site. Since many families are burdened by the cost of care, Cetaphil also will supply a grant for campers to receive Cetaphil products throughout the year to care for their skin. And Cetaphil has enlisted the help of celebrities to sign cards that will be given to campers. For each card signed, Cetaphil made an additional donation equivalent of the cost of sponsoring one child to attend camp.
The special-edition Cetaphil moisturizing cream, priced at $14.99, will be available beginning September at Walgreens stores.
CVS Caremark to sponsor The Partnership at Drugfree.org campaign to curb Rx abuse
WOONSOCKET, R.I. — CVS Caremark announced that it has joined with a group of public and private sector partners and will sponsor the "The Medicine Abuse Project," a multiyear effort by The Partnership at Drugfree.org to raise awareness and curb the abuse of prescription drugs and over-the-counter medicines. The project’s goal is to prevent half a million teens from abusing medicines over the next five years.
"It is startling that 1-in-6 teens has taken a prescription drug without a prescription and that the majority of teens who abuse medications get them from the homes of family and friends," CVS Caremark president and CEO Larry Merlo said. "As a pharmacy innovation company, we have a responsibility to educate people about medication abuse. These efforts are an important part of CVS Caremark’s purpose to help people on their path to better health."
Steve Pasierb, president and CEO of The Partnership at Drugfree.org added, "Our new research underscores that Americans drastically underestimate the negative impact that prescription drug and over-the-counter medicine abuse is having on teens today. We are deeply grateful to CVS Caremark for enthusiastically joining this collaborative Project to effectively address the intentional abuse of medicines. With the support of CVS Caremark and their reach into communities across the nation, we are taking action and helping turn the tide on this growing epidemic."
The Medicine Abuse Project will encourage parents to talk with their kids about the dangers of abusing prescription and OTC medicines and will provide information on safeguarding and properly disposing of unused medications. Part of the Project is a National Prescription Drug Take-Back Day, facilitated by the Drug Enforcement Administration, which will take place on Sept. 29, with collection sites across the country where consumers can safely dispose of their unused medications.
"Every day our pharmacists talk to customers about how to take their medications as directed so they can get and stay healthy," added Merlo, who himself is a pharmacist. "This effort to counsel patients and families about the dangers of inappropriately taking medications, as well as how to safeguard medications in the home, is equally important."
CVS Caremark will be participating in The Medicine Abuse Project by posting information on the company’s websites and social media channels; linking to the campaign’s website; providing information at CVS/pharmacy locations; and taking part in The Partnership at Drugfree.org’s awareness-building events.