CRN’s roster of voting members grows by three
WASHINGTON The Council for Responsible Nutrition on Wednesday named three new voting members to its roster—Dow Chemical Company of Midland, Mich.; Lipid Nutrition of Channahon, Ill.; and NSA of Collierville, Tenn.
“As we support our mission to enhance and sustain a climate for the industry to responsibly market dietary supplements and dietary supplement ingredients, it is important that we continue to build our membership base with responsible companies,” stated Steve Mister, president and chief executive officer, CRN.
Dow Chemical Company provides chemical, plastic and agricultural products and services to many consumer markets, including the nutritional/supplement industry, for which Dow manufactures ingredients such as Fortefiber, a soluble dietary fiber.
Lipid Nutrition is a subsidiary of Loders Croklaan and focuses on creating scientifically-sound lipid ingredients, acting as a supplier for nutritional supplement and food companies.
And NSA’s concentration has been on marketing products that improve consumers’ health and well-being, including the company’s flagship brand Juice Plus+.
P&G to sell off ThermaCare
BATAVIA, Ohio Procter & Gamble has named another brand that it will shed as it cuts off fat.
The company is looking for buyers for its ThermaCare heat wraps, a brand it started in 2002. P&G has already sold off its coffee business.
ThermaCare has worldwide sales of about $100 million, including $80 million in the U.S.
Novartis acquires a quarter of Alcon
BASEL, Switzerland Novartis on Tuesday acquired a 25 percent stake in Alcon as part of a definitive agreement with Nestle S.A. reached in April 2008 that provides the right to acquire majority ownership of the world leader in eye care in two steps.
The first step was completed on July 7 when Novartis purchased the Alcon stake from Nestle for approximately $10.4 billion in cash, approximately $200 million less than previously announced to account for the Alcon dividend paid in May 2008 for these shares to Nestle rather than Novartis.
The optional second step provides rights for Novartis to acquire, and Nestle to sell, the remaining 52 percent stake held by Nestle between January 2010 and July 2011 for a price not exceeding approximately $28 billion.
Completion of the optional second step would make Alcon a majority-owned subsidiary of Novartis, strengthening a portfolio that would include medicines, generic pharmaceuticals, preventive vaccines, diagnostics and consumer health products.
Alcon is one of the world’s largest eye care companies with 2007 annual sales of $5.6 billion, operating income of $1.9 billion and net income of $1.6 billion. Alcon offers a range of pharmaceutical, surgical and consumer eye care products used to treat diseases, disorders and other conditions of the eye.