Warburg Pincus completes B&L acquisition
ROCHESTER, N.Y. Bausch & Lomb and Warburg Pincus on Friday announced that Warburg Pincus has completed the acquisition of B&L for a total purchase price of approximately $4.5 billion, including the assumption of approximately $830 million in debt.
The company’s stock ceased trading on the New York Stock Exchange and was delisted by close of market Friday, the company announced.
“With a strong and supportive partner in Warburg Pincus, we are well-positioned to create new opportunities for Bausch & Lomb and advance our leadership in the eye health industry,” stated Ronald Zarrella, chairman and chief executive officer of B&L. “Our customers will continue to receive high levels of service, product quality and innovation, and our commitment to serving their needs remains steadfast.”
NAD recommends ad modifications for Estroven
NEW YORK The National Advertising Division of the Council of Better Business Bureaus on Wednesday recommended that Amerifit Brands modify advertising for its Estroven brand dietary supplement.
NAD examined evidence that included a number of studies on ingredients that found in Estroven, including black cohosh and valerian root. However, NAD determined that in the absence of any testing on the product itself, the advertiser’s “clinically proven” claims for Estroven were unsupported and recommended that they be discontinued.
NAD did, however, find that the totality of the research indicated that these ingredients can “help” accomplish the claimed benefits. Accordingly, NAD recommended that the advertiser discontinue its clinically proven claims, but noted that it may make certain milder, ingredient performance claims—that Estroven contains black cohosh, isoflavones and valerian root, ingredients that may help reduce the symptoms associated with menopause and in the case of valerian root, may help one sleep.
NAD also found that Amerifit provided a reasonable basis to support its sales and preference claims that “Estroven is the No. 1 pharmacist recommended supplement for menopause…” and “Estroven, with clinically proven ingredients, is the No. 1 choice among women for natural support during menopause,” as well as the claim that “Estroven is America’s top-selling women’s dietary supplement.”
Matrixx CEO predicts retailers will stock cough/cold medicines in a timelier manner
PHOENIX The purchase of cough and cold items by retailers may more closely correspond with illness rates going forward as opposed to seeing a significant purchase spike just before the cough and cold season in August, Carl Johnson, president and chief executive officer of Matrixx Initiatives, revealed in a press statement Wednesday regarding Matrixx’ most recent quarterly results.
“Over the past couple of years, we have seen our largest retail customers trim the size of their pre-season purchases—which had generally occurred in August and September—and focus on repurchasing inventory as consumption levels increase during the cold season,” he said. “We expect that trend to continue as the consolidation in the industry and growth of several national chains has allowed retailers to manage inventory at tighter levels and replenish store shelves in a timelier manner. We believe this shift in behavior will spread retail orders over the entire cold season compared to the large early inventory buys in previous years, which were sold down throughout the season.”