Perrigo to acquire PBM Holdings
ALLEGAN, Mich. Perrigo announced Tuesday that it has signed a definitive merger agreement to acquire a baby formula maker for more than $800 million.
Perrigo said its acquisition of PBM Holdings — which manufactures and distributes over-the-counter, store-brand infant formula and baby foods sold by leading retailers in the mass, club, grocery and drug channels in the United States, Canada, Mexico and China — is expected to close in its fiscal 2010 fourth quarter, pending regulatory approval.
Pursuant to the terms of the agreement, Perrigo will acquire 100% of the shares of PBM Holdings for $808 million in cash. No PBM debt will be assumed in this transaction, Perrigo said.
“This acquisition positions Perrigo to expand its store-brand market leadership into another important product category for our retailers,” said Perrigo chairman and CEO Joseph Papa. “Just as Perrigo developed the OTC store-brand market over the last several decades, PBM created the store-brand value proposition within the highly regulated infant formula space. We believe that PBM’s mission to provide families with high-quality, state-of-the-art formulas at sensible prices complements perfectly Perrigo’s mission to deliver quality, affordable health care to consumers.”
Study: Selenium may cut men’s risk of diabetes
NEW YORK A recent study published in BioMed Central’s open access journal, Nutrition and Metabolism, has shown that men with a higher concentration of selenium in their bodies are less likely to develop diabetes.
Tasnime Akbaraly, from the University of Montpellier, worked with a team of researchers to follow 1,162 healthy French men and women for nine years, monitoring plasma selenium concentrations and incidence of dysglycemia. Akbaraly said during the study period, 127 new cases of dysglycemia occurred, of which 70 were in men and 57 in women. She pointed out, however, that elderly men with high plasma selenium concentrations were “significantly associated with a lower risk of developing dysglycemia over the following nine years.”
“The reason we observed a protective effect of selenium in men but not in women is not completely clear, but might be attributed to women being healthier at baseline, having better antioxidant status in general and possible differences in how men and women process selenium,” Akbaraly said.
Selenium, a trace mineral that is an essential element in several metabolic pathways and is found in such foods as walnuts and various types of fish.
Alison Sweeney becomes spokeswoman for Zyrtec product
FORT WASHINGTON, Pa. “The Biggest Loser” and “Days of Our Lives” star Alison Sweeney will join McNeil Consumer Healthcare as the face of the new Zyrtec Liquid Gels, the company announced Friday.
Sweeney participated in a race in New York to officially welcome the first day of spring. The “Race Against Your Allergies” took place in New York City’s Madison Square Park.
“I’ve partnered with the makers of Zyrtec Liquid Gels as a fun way to kick off the season and show fellow allergy sufferers and lovers of the outdoors how we can outrun our allergy symptoms this year,” Sweeney said.
“We’re excited to be providing allergy sufferers with the opportunity to participate in a fun activity to welcome the first day of spring, while learning how to manage and relieve the everyday allergy symptoms the season can bring,” said Rohinish Hooda, VP marketing, upper respiratory for McNeil Consumer Healthcare.