Insight Pharmaceuticals Corporation Acquires Sucrets Sore Throat Lozenge Business from SmithKline Beecham and Enters into an Agreement with Heritage Consumer Products, LLC.Business Editors, Health/Medical Writers SAN FRANCISCO--(BUSINESS WIRE)--October 17, 2000 Insight Pharmaceuticals Corporation ("IPC (1) (InterProcess Communication) The exchange of data between one program and another either within the same computer or over a network. It implies a protocol that guarantees a response to a request. "), an acquirer of over-the-counter ("OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ") pharmaceutical brands, has acquired the Sucrets sore throat Sore Throat Definition Sore throat, also called pharyngitis, is a painful inflammation of the mucous membranes lining the pharynx. It is a symptom of many conditions, but most often is associated with colds or influenza. lozenge lozenge /loz·enge/ (loz´enj) [Fr.] 1. troche; a discoid-shaped, solid, medicinal preparation for solution in the mouth, consisting of an active ingredient incorporated in a suitably flavored base. 2. business from SmithKline Beecham Consumer Healthcare, a division of SmithKline Beecham ("SmithKline"). In connection with the acquisition, SmithKline will continue to manufacture the Sucrets product on behalf of IPC as well as provide certain transition services with respect to the brand. "We are pleased to have acquired the Sucrets brand," states Keith Lively, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of IPC. "As the established leader in the sore throat lozenge segment, it is a unique product from which to build a broader base within the cough and cold category." Concurrent with the purchase of Sucrets, IPC has entered into a services agreement with Heritage Consumer Products ("Heritage"), a marketer of 18 OTC pharmaceutical brands including N'ICE, Cepastat, Acutrim, Aspergum and Eucalyptamint amongst others. Heritage will provide day-to-day management services with respect to the Sucrets brand. "We are extremely excited about the opportunity to work with IPC and look forward to a mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" relationship," stated Ron Kittner, President of Heritage. "IPC was formed by senior executives in the consumer products industry and we will benefit greatly from their experience. In addition, the Sucrets brand provides us with exciting opportunities to leverage our infrastructure." IPC was formed through a joint venture with Insight Holdings, a management group lead by Keith Lively and Catterton Partners IV ("Catterton"), a $400 million private equity fund focused on investing in and acquiring consumer product companies. "The acquisition of Sucrets and the agreement with Heritage provide an immediate platform for growth in the rapidly consolidating OTC pharmaceutical products industry," affirmed Michael Chu Michael Chu earned a World Series of Poker bracelet in the 2007 $1,000 WSOP No Limit Hold'em with rebuys event (Event #8). Chu won the event with the minimum investment, having never made a single re-buy in the event. , Managing Director of Catterton. "IPC will be pursuing other brands in the OTC pharmaceuticals space aggressively." |
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