Start-up seeks capital for fish-friendly hemp oil omega supplement
VANCOUVER, British Columbia – In an effort to help save the world’s fish population, a new company on Thursday launched a healthy and fish-friendly alternative to fish oil. Envision Naturals has created a hemp seed oil in soft gel form that provides consumers with the omega essential fatty acids they require for a proper diet.
Envision Naturals, in an effort to increase awareness for their product and raise some initial capital, has launched a KickStarter campaign that will run through July 3 with the goal of raising $75,000 Canadian ($59,800 U.S.) to finance the first production run.
“It is about providing an environmentally friendly, healthy product that will help people,” said Chris Dollard, co-founder of Envision Naturals. “The growing awareness of the importance of omega EFAs has led to an explosion in their consumption but this explosion is not without its risks. It is our goal to mitigate these risks to the environment and provide people with an alternative that gives them the Omega EFAs they require.”
“We realized something needed to be done and figured there had to be an alternative,” said Anton Mattadeen, co-founder of Envision Naturals. “We partnered with a researcher at the University of BC and realized that hemp could provide that solution.”
Hemp, which the company is quick to point out is not marijuana, is made from cold-pressed hemp seeds and is considered to be a good source of EFAs for the human body. It is vegan-friendly, and is certified organic by Pro-Cert Organic Systems, certified Kosher by the Orthodox Union and certified Halal by the Halal Product Development Services, Envision Naturals reported.
Cardinal Health enhances generic sourcing in blockbuster deal
DUBLIN, Ohio – Cardinal Health on Friday announced plans to acquire The Harvard Drug Group, a distributor of generic pharmaceuticals, over-the-counter medications and related products to retail, institutional and alternate care customers, in a deal worth $1.1 billion.
The deal on the outset enhances Cardinal's generic pharmaceutical distribution business. In addition, the acquisition of The Harvard Drug Group gives Cardinal a broader portfolio of OTC products and expands Cardinal Health's existing telesales programs, the wholesaler stated.
"The Harvard Drug Group aligns perfectly with our commitment to provide the most comprehensive line of pharmaceutical products for the broadest range of customers," stated George Barrett, chairman and CEO Cardinal Health. "This acquisition enhances our ability to support retail and institutional customers and further utilizes Red Oak, our joint venture with CVS Health to source generics."
Headquartered in Livonia, Mich., The Harvard Drug Group had revenues of approximately $450 million in 2014. The transaction is expected to close in the beginning of fiscal year 2016 subject to regulatory approvals and other customary closing conditions.
The Harvard Drug Group is currently owned by Court Square Capital Partners.
First FDA, now FTC to review homeopathics
WASHINGTON — The Federal Trade Commission will host a public workshop here on Sept. 21 to examine advertising for over-the-counter homeopathic products, the agency announced earlier this week.
“During the last few decades, the homeopathic drug industry in the United States has grown considerably from a multimillion-dollar to a multibillion-dollar market,” the agency stated. “In that time, the homeopathic drug market has shifted from one based primarily on formulations prescribed for an individual user to mass-market formulations widely advertised and sold nationwide in major retail stores. Because of rapid growth in the marketing and consumer use of homeopathic products, the FTC is hosting a workshop to evaluate the advertising for such products.”
According to FTC blogger Lesley Fair, the agenda is still in the works, but here are some of the subjects under consideration:
- The science behind homeopathy;
- How the market has changed and how homeopathic products are advertised;
- What consumers understand about homeopathy; and
- How established FTC truth-in-advertising principles apply.
The FTC announcement of its review of advertising homeopathic products comes one month after the Food and Drug Administration held a two-day hearing to review the appropriate regulatory policy for homeopathic medicines.
At the hearing, the American Association of Homeopathic Pharmacists told FDA that the agency’s regulatory policy for homeopathic medicines has worked effectively for the last 25 years to protect the public health and provide consumer access to safe homeopathic medicines.
“We are confident that the majority of homeopathic drug products in the market are manufactured and labeled in substantial compliance with the Compliance Policy Guide and the Food, Drug and Cosmetic Act, ensuring consumers have access to safe and clearly identified homeopathic products to choose from for their healthcare needs,” stated Mark Land, president AAHP, in a release after the hearing.
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