Gillette, Palomar extend decision schedule for light-based hair removal device
BURLINGTON, Mass. The Gillette Co. and Palomar Medical Technologies, a developer of light-based systems for cosmetic treatments, have reached an agreement to extend the launch decision of a home-use, light-based hair removal device for women and have agreed to negotiate new terms.
The date has been extended to no later than Feb. 29, 2008. Under the existing agreement entered into by Palomar and Gillette in February 2003 and as amended and restated in February 2007, Gillette had until Jan. 7, 2008 to make the launch decision. The companies have agreed to enter into negotiations for a new agreement to replace the existing one.
The goal of the new agreement is to enable the parties to continue to work together to fully capitalize on the market potential, the companies stated. It is anticipated that a new agreement would include the release of Palomar from exclusivity and the retention by Gillette of non-exclusive rights to Palomar’s technology and intellectual property. In return, Palomar anticipates that there would be a reduction in the percentage of net sales that Gillette pays to Palomar and a change from annual payments to reduced calendar quarterly payments for a certain period. If the parties do not agree, the existing agreement could be terminated.
Designed specifically for use in the home and based on more than a decade of research, the consumer light-based hair removal device marks a breakthrough in the aesthetic device industry and is the first light-based hair removal device to receive a 510(k) OTC clearance from the FDA, according the companies.
Walgreens hosts launch of Merlot Skin Care lip moisturizer
EL PASO, Texas Merlot Skin Care, a maker of grape-seed based skin care products, is launching at Walgreens in March its new Lip Moisturizer.
The lip product is made with natural grape seed oil and beeswax and offers SPF 15 protection.
“Coming out of the harsh winter months, Merlot’s Lip Moisturizer delivers needed relief,” stated Wayne Beckley, founder of Merlot Skin Care. “The soothing beeswax and Merlot’s signature natural grape seed oil make for an unbeatable combination of protection and conditioning. Put it in your pocket for great lip care on the go.”
The .15 ounce tube is expected to retail for $2.99.
Rogers appointed to Physicians Formula board of directors
AZUSA, Calif. Cosmetics company Physicians Formula has appointed Jeff Rogers, the company’s president, to join its board of directors. He succeeds Craig Frances, who has resigned to devote more time to his other business activities.
Rogers has served as president of the company since August 2006 and as senior vice president of sales from January 1998 to August 2006. He joined the beauty company in April 1991 as a sales director and was promoted to vice president of sales in June 1991. Previously, Rogers worked at Revlon and Del Laboratories.
“We appreciate Craig Frances’ contribution to Physicians Formula and thank him for his valued input and contribution over the past four years,” stated Ingrid Jackel, chief executive officer.
Current board member Jeff Berry will assume Frances’ roles as chair of the compensation committee. In addition, current board member Sonya Brown will join the compensation committee and will also assume the role of chair of the nominating and corporate governance committee.