Hi-Tech Pharmacal buys homeopathic product line from Dynova Labs
AMITYVILLE, N.Y. — Drug maker Hi-Tech Pharmacal has bought a line of homeopathic nasal spray products from Dynova Labs, the company said Thursday.
Hi-Tech announced the acquisition of Sinus Buster and Allergy Buster for $1.25 million and an addition $1.25 million that it will deposit in an escrow account. The company also will pay Dynova a royalty on net sales for up to three and a half years or up to $1.75 million. The products, which Hi-Tech will sell through its Health Care Products over-the-counter division, had sales of $3.3 million in 2011.
"With the addition of these products, we are well-positioned to benefit from the growing trend toward natural, homeopathic treatment options," Hi-Tech president and CEO David Seltzer said. "These brands create a good strategic fit for Health Care Products as we expand our presence in the cough-cold and allergy categories."
Hyland’s showcases adult cough-cold medicines at ECRM show
LAS VEGAS — Hyland’s has extended its Defend lineup of cough-cold products with a pair of adult cough syrups — Defend Cough & Cold and Defend Cough & Cold Night — last week at the ECRM Cough & Cold and Allergy EPPS.
The products, which carry a suggested retail price of $9.99, are being promoted through Hyland’s "Action Moms" campaign, an interactive campaign that ties Hyland’s adult cough-cold products to a key target demographic: the do-everything mom.
Hyland’s already is well on its way to cracking the top 10 branded list of cold/allergy/sinus liquids and powders, as captured by SymphonyIRI Group. For the 52 weeks ended Feb. 19, sales of Hyland’s liquids were up 113.5% to $10.8 million and ranked No. 13 (excluding private label) across food, drug and mass (minus Walmart) outlets.
Following its week in Las Vegas, Hyland’s made its way to Anaheim, Calif. March 9 to showcase all of its new offerings at the Natural Products Expo West. The company provided its Facebook fans a sneak peek at next week’s preparations with a video that can be viewed here.
FDA issues warning letter to AeroShot maker
WASHINGTON — The maker of a breathable caffeine product has received a warning letter from the Food and Drug Administration.
In its letter, the regulatory agency said that Breathable Foods’ AeroShot product contained false or misleading statements on its labeling. The FDA also said it is concerned about the use of the product by children and adolescents, as well as the general safety of using the "caffeine inhaler." The FDA also noted that the product label does not include contact information for consumers to report any adverse events to the company, as required under federal law.
Click here to view the full warning letter.
The warning follows concern expressed by Sen. Charles Schumer, D-N.Y., who last month called on the FDA to conduct a full review of the safety and legality of the product and also questioned whether or not the product is legally marketed as a dietary supplement.
The company has 15 business days to respond to the agency with a plan to bring the product into compliance with FDA regulations.