Prestige Brands Holdings, whose portfolio includes Chloraseptic sore throat treatments, Clear Eyes eye care products and Compound W wart treatments, has entered into an agreement to acquire Insight Pharmaceuticals, the maker of Monistat, for $750 million in cash.
Fortune has named Prestige Brands as one of its 100 fastest-growing companies, Prestige announced Tuesday. Listed as No. 60, Prestige represents the only manufacturer of brand name over-the-counter healthcare products on the list.
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.
This may be the year of the legacy brands as two companies that recently acquired separate brand portfolios from GlaxoSmithKline focus on reinvigorating consumer attention to their respective product lines.
Biolife in May launched WoundSeal, a hemostat product specifically targeting Americans on a regimen of blood thinners. While hemostat products have been introduced into the first aid set before, this is the first one targeting patients on a specific therapy.
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.
Prestige Brands Holdings on Monday announced that it has completed the purchase of the two remaining brands of the 17 brands it agreed to acquire from GlaxoSmithKline; the purchase of Debrox ear wax remover and Gly-Oxide oral rinse completes the transaction.
Prestige Brands has rejected an unsolicited proposal from Genomma Lab, which seeks to acquire the over-the-counter and household cleaning products maker for $16.60 per share in cash, calling the deal inadequate, opportunistic and highly conditional.