PacificHealth names Duffner CEO
MATAWAN, N.J. PacificHealth Labs on Tuesday announced that Fred Duffner has been promoted to CEO and president reporting directly to the board. Duffner previously had been named president in January 2010.
“We have made great progress this year refocusing the company on its core brands in sports nutrition, reducing expenses and in building our cash position,” Duffner stated. “I believe [PacificHealth] is now in a position to take back its leadership position in the category and begin to lead with new innovation and consumer messaging.”
KidZerts launches foot insoles for children
SAN DIEGO KidZerts on Sunday announced the introduction of its wear-moldable arch support insoles for children.
Features include a moldable sub-layer that slowly will mold to the child’s foot while he or she wears it, an antimicrobial top cover that kills odor-causing bacteria and wicks moisture, a heel cup for stability and alignment, a broad heel seat for additional foot comfort, a beveled forefoot for a smooth transition and a moderate arch for support and alignment.
KidZerts insoles were designed by a team that includes a podiatrist, a pedorthist and specialists in the manufacturing of insoles, the company stated.
Meda to acquire Alaven
STOCKHOLM Meda on Monday announced an agreement to acquire the specialty pharmaceutical company Alaven in a move that will “significantly enhance Meda’s marketing capabilities in the United States and expand the therapeutic focus to include both gastroenterology and women’s health — areas that Meda already operates in outside of the United States,” the company stated.
Meda also identified Alaven’s over-the-counter platform, which accounts for approximately 25% of Alaven’s sales, as an attractive element to the deal.
“Alaven’s products and business model are very similar to Meda’s, and we look forward to integrating their proven capabilities,” stated Meda CEO Anders Lonner. “The acquisition of Alaven enables our operations in the United States to become stronger and more profitable by taking advantage of cost and marketing synergies.”
Meda will pay $350 million on a cash and debt-free basis. Net debt is estimated at $63 million. Closing of the transaction is subject to standard closing requirements and antitrust clearance from the Federal Trade Commission. The acquisition of Alaven is expected to be completed by early October.