Navigation Links
Nutrition 21 Completes Sale of Direct Response and Retail Businesses to Nature's Products, Inc.
Date:12/30/2009

PURCHASE, N.Y., Dec. 30 /PRNewswire-FirstCall/ -- Nutrition 21, Inc. (OTC Bulletin Board: NXXI), the developer and marketer of nutritional ingredients for the dietary supplement, and functional food and beverage markets announced today that it has sold substantially all of the assets of its direct response and retail businesses to Nature's Products, Inc., based in Sunrise, Florida. The purchase price was approximately $3.2 million plus the assumption of designated liabilities.

Nutrition 21 retained its profitable ingredients business and its patent portfolio. The buyers agreed to purchase their ingredients requirements from Nutrition 21.

The company applied approximately $2.7 million of the sale proceeds to repay in full notes that it issued in August 2006.

Commenting on the sale, Nutrition 21's President and Chief Executive Officer, Michael Zeher said, "We entered into this transaction to focus our limited financial resources on our profitable ingredients business. N21's patents, technologies, customer relationships, and innovative new formulations bode well for the future of this business."

About Nutrition 21

Nutrition 21, Inc., headquartered in Purchase, NY, is a nutritional bioscience company and holds over 30 issued and pending patents associated with chromium picolinate as well as combinations of chromium compounds with other dietary supplement ingredients. Its ingredients are sold to leading dietary supplement, and functional food and beverage manufacturers. For more information please visit http://www.nutrition21.com.

Safe Harbor Provision

This press release may contain certain forward-looking statements. The words "believe," "expect," "anticipate," "bode" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the Company's current expectations and are subject to a number of risks and uncertainties, including without limitation: the effect of the expiration of patents; regulatory issues; uncertainty in the outcomes of clinical trials; changes in external market factors; changes in the Company's business or growth strategy or an inability to execute its strategy due to changes in its industry or the economy generally; the emergence of new or growing competitors; various other competitive factors; and other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission, including its Form 10-K/A for the year ended June 30, 2009. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this press release will in fact occur. Additionally, the Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.

Company Contact: Alan Kirschbaum - Chief Financial Officer - 914-701-4500

SOURCE Nutrition 21, Inc.


'/>"/>
SOURCE Nutrition 21, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Video: Nutrition Comes to NASCAR
2. Fitness Champion Natalie Waples to be Spokesperson for Natural Nutrition International Direct Marketing Campaign
3. Cities Say Restaurant Nutrition Information Crucial in Fighting Obesity
4. FDA: Use the Nutrition Facts Label to Make Healthy Food Choices
5. Vitamin Relief Brings Needed Nutrition to School District Resurrecting After Katrina
6. Vatican Affirms Church Teaching on Nutrition and Hydration for Individuals In Vegetative State
7. Comment Regarding Congregation for the Doctrine of Faith Clarification Concerning Nutrition and Hydration for Patients in a Persistent Vegetative State
8. The Nutrition-Conscious Are Taking a Bite Out of Fast Food
9. The Nutrition-Conscious Take a Bite Out of Fast Food
10. Wellcorps International Unveils New Nutritional Supplements
11. Nutrition model stresses positive experience of eating
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his ... David Geffen School of Medicine at UCLA. He trained in Internal Medicine at Scripps ... in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to ...
(Date:6/24/2016)... ... ... A recent article published June 14 on E Online details ... to state that individuals are now more comfortable seeking to undergo not only the ... and cheek reduction. The Los Angeles area medical group, Beverly Hills Physicians (BHP) notes ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary ... Dallas that it will receive two significant new grants to support its work ... marked its 25th anniversary by recognizing patients, medical professionals and scientists for their ...
(Date:6/24/2016)... ... , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business ... to $12 an hour by 2020 and then adjusting it yearly to increase at the ... minimum wage, assure the wage floor does not erode again, and make future increases more ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... client, The Grove Investment Group (TGIG), has initiated cultivation and processing operations at ... Las Vegas and Pahrump, Nevada. , Puradigm is the manufacturer of a complete ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 2016  Guerbet announced today that it has been ... Award . One of 12 suppliers to ... its support of Premier members through exceptional local customer ... commitment to lower costs. ... our outstanding customer service from Premier," says Massimo ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... the "Surgical Procedure Volumes: Global Analysis (United States, ... Australia, Canada)" report to their offering. ... an essential tool for healthcare business planners, provides surgical ... looks at surgery trends with an in-depth analysis of ...
(Date:6/23/2016)... June 23, 2016 The Biotechnology ... continues to present great opportunities to investors. Stock-Callers.com assesses ... Intrexon Corp. (NYSE: XON ), Vertex Pharmaceuticals ... (NASDAQ: ARNA ), and Regeneron Pharmaceuticals Inc. ... stocks and receive your complimentary trade alerts at: ...
Breaking Medicine Technology: