Reckitt Benckiser announces early termination of antitrust waiting period for Adams purchase
SLOUGH, U.K. Reckitt Benckiser’s bid for the business Adams Respiratory Therapeutics won’t run into any legal hurdles—the company announced Tuesday that they have received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to the previously-announced tender offer to purchase all of the outstanding shares of common stock of Adams.
Reckitt Benckiser initiated, through its wholly owned subsidiary Twickenham, a cash tender offer on Dec. 21 to purchase all outstanding shares of common stock of Adams for $60 per share.
That tender offer expires at midnight in New York on Jan. 23, however.
HDI introduces TRUEtest blood glucose strips
FORT LAUDERDALE, Fla. Home Diagnostics, Inc. on Monday announced the pending launch of its new blood glucose test strip platform called TRUEtest.
“The development of our new TRUEtest strip platform has been a major effort for us and the upcoming launch of our no-coding meters will mark a significant technological advance that will greatly benefit people with diabetes,” stated Richard Damron, Jr., HDI president and chief executive officer. “With this upcoming product platform, we are continuing to deliver on our promise of providing people with diabetes and our business partners with high-quality, cutting-edge products at affordable prices.”
According to the company, TRUEtest strips will utilize no-coding technology that automatically calibrates with the company’s upcoming TRUEresult and TRUE2go blood glucose meters. Home Diagnostics’ TRUEresult meter will offer advanced performance features while TRUE2go will be the world’s smallest monitor for on-the-go testing. The company expects to launch these products, the latest additions to the TRUE product line of diabetes testing supplies, in the second half of 2008 following clearance from the Food and Drug Administration.
The new no-coding technology of TRUEtest strips will eliminate the need for users to code their TRUEresult and TRUE2go meters with each new box of test strips. This enhancement reduces the risk of inaccurate glucose results caused by miscoding or failure to change the code when a new box of test strips is used.
Rite Aid inks exclusivity deal with Home Diagnostics
FORT LAUDERDALE, Fla. Home Diagnostics Monday morning announced that it has signed an agreement to be the exclusive supplier of a co-branded blood glucose monitoring system for Rite Aid.
“When Home Diagnostics pioneered the co-branding strategy for blood glucose monitors in 2000, it was with a vision of providing people with diabetes with safe, accurate and easy-to-use blood glucose monitoring supplies at affordable prices,” stated Richard Damron, Jr., HDI president and chief executive officer. “This partnership with Rite Aid is a significant addition to our business. It is also a confirmation of the trust customers place in our products, as well as our status as the leading supplier of co-branded blood glucose meters in the U.S.”
Home Diagnostics’ TRUEtrack will be available as the TRUEtrack for Rite Aid blood glucose monitoring system at more than 5,000 Rite Aid stores across the U.S. starting March 2008.
Previously, Home Diagnostics products were available at Brooks-Eckerd pharmacies, which were acquired by Rite Aid in 2007. Home Diagnostics is also the exclusive co-brand supplier of blood glucose monitoring supplies to other leading pharmacies including Walgreens and CVS, as well as national distributors such as AmerisourceBergen, Cardinal Health and McKesson.