H. D. Smith signs wholesale deal with PharmacyGPO
SPRINGFIELD, Ill. — Pharmaceutical wholesaler H. D. Smith will act as the exclusive supplier of various healthcare products for a buying group that serves independent pharmacies, the company said Monday.
H. D. Smith announced a deal with PharmacyGPO to supply prescription drugs, health-and-wellness products and durable medical equipment, saying it would help the buying group expand its presence in community pharmacies and long-term care facilities; PharmacyGPO’s membership has grown by 300% since its founding last June. Financial terms of the deal were not disclosed.
"Like PharmacyGPO, H. D. Smith is committed to providing outstanding service and delivering business advantages to the community-based pharmacies and healthcare facilities that are the backbone of our nation’s health system, so we feel privileged to partner with PharmacyGPO as its sole provider of pharmaceutical wholesale distribution and customer services," H. D. Smith chairman and CEO Dale Smith said. "Our companies have complementary missions and long-term growth tracks, and we look forward to working alongside PharmacyGPO to help its members impact positively patient care operating profitable businesses."
Eruption launches energy powder into c-store, specialty channels
MINNEAPOLIS — Eruption on Thursday launched its Eruption Effervescent Energy, an energy powder supplement that can be added to any beverage.
"We developed Eruption to fill a void in the energy drink marketplace," Eruption president Joshua Shirk said. "It comes in a small packet and can be added to any beverage, so it’s convenient for on-the-go lifestyles."
The energy powder is presently available through the convenience channel and specialty fitness stores. Available in two flavors — lava lime and magmaberry — each powder contains 45 mg of caffeine, electrolytes, CoQ10, along with several vitamins and minerals. The drink mix is sweetened with stevia.
Genomma drops proposed acquisition of Prestige Brands
IRVINGTON, N.Y. — Prestige Brands on Thursday acknowledged that Genomma Lab has withdrawn its unsolicited acquisition proposal.
“Prestige has stated repeatedly that it is open to considering offers that would create compelling value for stockholders and offer certainty of closing. That is still the case," the company said. "Prestige’s board of directors carefully reviewed Genomma’s proposal with the assistance of its financial and legal advisors and, after thorough consideration in accordance with its fiduciary duties, determined that the proposed price was inadequate and the proposal was not in the best interests of Prestige Brands and its stockholders."
"As recent as yesterday at approximately 6:00 p.m. EST, Prestige’s advisers notified Genomma’s advisers that Prestige would only engage in discussions with Genomma upon Genomma making a significant increase in the purchase price," the Mexico City supplier stated Thursday. "Consequently, Prestige’s unreasonable refusal to not have a single meeting to allow Genomma to conduct even the most rudimentary due diligence has served to deprive its shareholders of any chance of achieving an increase in the value of their shares."