BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

WellSpring Pharmaceutical Corporation Acquires Consumer Product Brands from McNeil Consumer & Specialty Pharmaceuticals (JNJ)


9/2/2008 11:03:58 AM

BRADENTON, Fla. and OAKVILLE, Ontario, Sept. 2 /PRNewswire/ -- WellSpring Pharmaceutical Corporation, a growing North American-based pharmaceutical manufacturer, today announced expansion of its consumer health care product line by concluding a transaction with McNeil Consumer Healthcare Division of McNeil PPC, Inc. wherein WellSpring has purchased several popular over-the-counter (OTC) consumer drug products. In an all cash transaction, WellSpring has purchased the US rights to Micatin (R) (antifungal), Emetrol (R) (anti-nausea), and Gelusil (R) (antacid), and the Canadian rights to Micatin, Gelusil, and Glycerin Suppositories (laxative). The purchase price was not disclosed.

The acquisition of these brands further strengthens WellSpring's consumer product business in Canada where they join Glaxal Base (TM), Barriere (R) (skin care products), Dequadin (R) (cough/cold), Replens (R) (vaginal moisturizer), K-Lyte (R) (potassium supplement), and others. In the US the new brands give WellSpring a base in the consumer healthcare marketplace soon to be joined by the launch of Glaxal Base and Barriere.

"With consumers taking more responsibility for their own health, this segment of the pharmaceutical market holds substantial promise for growth," said Dr. Robert A. Vukovich, WellSpring's President and CEO. "Having marketed OTC products in Canada for many years, our experience in growing this pharmaceutical category should prove to be very beneficial. WellSpring expects to undertake an aggressive marketing effort to re-invigorate these products and expand their distribution," Dr. Vukovich said.

WellSpring Pharmaceutical Corp. has made the development, marketing and sales of new and novel prescription and OTC drug products its strategic focus. WellSpring's prescription drug products include Dyrenium(R) (diuretic) and Dibenzyline(R) (anti-hypertension) which are marketed in the US. The firm is an active acquirer of pharmaceutical brands and enhances their value through the development of product improvements and line extensions.

WellSpring is a privately held pharmaceutical company founded in 1999 by Dr. Robert A. Vukovich the firm's CEO and Chairman. Dr. Vukovich previously founded and managed Roberts Pharmaceutical Corporation of Eatontown, NJ until its acquisition by Shire Pharmaceutical Group in 1999. WellSpring owns and operates an FDA approved manufacturing plant in Oakville, Ontario, Canada. Its administrative headquarters are located in Bradenton, Florida. The firm provides contract manufacturing services to the pharmaceutical industry and manufactures prescription and OTC drug products for both the US and Canada.

Press - Dr. Robert A. Vukovich, +1-941-552-7880, or +1-941-504-1229, or Wendy Shusko, +1-941-552-7881. Canada: Bonnie Feeney +1-905-337-4500.

WellSpring Websites: www.wellspringpharm.com, www.wpcoutsourcing.com, www.wellskin.ca.

Information regarding several of the newly acquired brands can be found at the following web addresses: www.micatin.com and www.emetrol.com.

CONTACT: Dr. Robert A. Vukovich, +1-941-552-7880, or +1-941-504-1229, or
Wendy Shusko, +1-941-552-7881; Canada: Bonnie Feeney +1-905-337-4500

Web site: http://www.wellspringpharm.com/
http://www.wpcoutsourcing.com/
http://www.wellskin.ca/



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES