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NUTRAMAX COMPLETES POWERS ACQUISITION

 GLOUCESTER, Mass., Dec. 8 /PRNewswire/ -- NutraMax Products, Inc. (NASDAQ: NMPC), a manufacturer and marketer of private label health and personal care products, announced that it has completed its acquisition of Powers Pharmaceutical Corporation for the purchase price of $13.5 million in cash.
 Powers, based in Brockton, Mass., is the nation's leading manufacturer and distributor of private label cough drops and throat lozenges, and also manufactures cough drops on a contract basis for a major national brand. Powers had sales of nearly $16 million in fiscal year ended June 26, 1993, and produces an extensive line of solid dosage cough/cold products, including cough drops, throat lozenges, sugar-free products, vitamin C drops and liquid center items. Its private label products are targeted at providing national brand equivalence at a lower cost to retailers and consumers.
 According to Donald E. Lepone, president and chief executive officer of NutraMax, "We believe the Powers acquisition will be additive for earnings in this fiscal year. Importantly, Powers diversifies our product mix and reduces the company's reliance on any one product. With the sales and marketing expertise of NutraMax, we anticipate being able to quickly integrate Powers and significantly increase sales of its private label products."
 Mr. Lepone: "With the acquisition of Powers, the growing market share of Pediatric Electrolyte Oral Maintenance Solution, the performance of our existing product lines, and the ongoing roll-out of the company's new OTC ophthalmic products, we expect NutraMax will achieve record revenues for fiscal 1994."
 NutraMax dominates private label sales in disposable douche, ready-to-use enema, Pediatric Electrolyte Oral Maintenance Solution and disposable baby bottles, and over the last year has begun marketing a broad line of OTC and Rx ophthalmics, plus clotrimazole-based vaginal yeast infection medications.
 -0- 12/8/93
 /CONTACT: Donald E. Lepone, chief executive officer of NutraMax, 508-283-1800; Lynn Morgen or Amy Weisman of Morgen-Walke Associates, 212- 850-5600, for NutraMax/
 (NMPC)


CO: NutraMax Products, Inc.; Powers Pharmaceutical Corporation ST: Massachusetts IN: HEA SU: TNM

DJ -- NE001 -- 1565 12/08/93 07:29 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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