The coming cough-cold season is difficult to project. On one hand, this year's cough-cold incidence will be going against very strong illness rate numbers from last year. In addition, with both McNeil Consumer and Novartis Consumer supporting the relaunch of a number of cough-cold products, the category is expected to be very promotional this season, a factor that could squeeze margins.
Prestige Brands Holdings announced its acquisition of Care Pharmaceuticals of Bondi Junction, New South Wales, Australia, a privately held marketer and distributor of over-the-counter healthcare brands for children and adults.
Reporting on the third quarter ended Dec. 31, Prestige Brands' CEO Matthew Mannelly told analysts he is "cautiously optimistic" regarding cough-cold reorders given the high consumption levels at retail in late December through January.
Prestige Brands closed out its fiscal 2012 ended March 31 on a high note with $441.1 million in revenues for the year, up 31.1%. And fiscal 2013 is looking promising as the company will have full-year contributions from its 17 acquired over-the-counter brands from GlaxoSmithKline.
You can expect to see quite a bit of co-promotional activity between PediaCare and Little Remedies in the 2011-2012 cough-cold season, Prestige Brands president and CEO Matthew Mannelly told investors Wednesday morning at the Bank of America Merrill Lynch 2011 Consumer Conference held here.
Prestige Brands Holdings on Thursday announced that it has entered into a definitive agreement to acquire the assets associated with the Dramamine business in the United States from McNeil Consumer Healthcare for $76 million in cash.