BRADENTON, Fla. and OAKVILLE, Ontario, Sept. 2 /PRNewswire/ -- WellSpring Pharmaceutical Corporation, a growing North American-based pharmaceutical manufacturer, today announced expansion of its consumer health care product line by concluding a transaction with McNeil Consumer Healthcare Division of McNeil PPC, Inc. wherein WellSpring has purchased several popular over-the-counter (OTC) consumer drug products. In an all cash transaction, WellSpring has purchased the US rights to Micatin (R) (antifungal), Emetrol (R) (anti-nausea), and Gelusil (R) (antacid), and the Canadian rights to Micatin, Gelusil, and Glycerin Suppositories (laxative). The purchase price was not disclosed.
The acquisition of these brands further strengthens WellSpring's consumer product business in Canada where they join Glaxal Base (TM), Barriere (R) (skin care products), Dequadin (R) (cough/cold), Replens (R) (vaginal moisturizer), K-Lyte (R) (potassium supplement), and others. In the US the new brands give WellSpring a base in the consumer healthcare marketplace soon to be joined by the launch of Glaxal Base and Barriere.
"With consumers taking more responsibility for their own health, this segment of the pharmaceutical market holds substantial promise for growth," said Dr. Robert A. Vukovich, WellSpring's President and CEO. "Having marketed OTC products in Canada for many years, our experience in growing this pharmaceutical category should prove to be very beneficial. WellSpring expects to undertake an aggressive marketing effort to re-invigorate these products and expand their distribution," Dr. Vukovich said.
WellSpring Pharmaceutical Corp. has made the development, marketing and sales of new and novel prescription and OTC drug products its strategic focus. WellSpring's prescription drug products include Dyrenium(R) (diuretic) and Dibenzyline(R) (anti-hypertension) which are marketed in the US. The firm is an active acquirer of pharmaceutical brands and enhances their value through the development of product improvements and line extensions.
WellSpring is a privately held pharmaceutical company founded in 1999 by Dr. Robert A. Vukovich the firm's CEO and Chairman. Dr. Vukovich previously founded and managed Roberts Pharmaceutical Corporation of Eatontown, NJ until its acquisition by Shire Pharmaceutical Group in 1999. WellSpring owns and operates an FDA approved manufacturing plant in Oakville, Ontario, Canada. Its administrative headquarters are located in Bradenton, Florida. The firm provides contract manufacturing services to the pharmaceutical industry and manufactures prescription and OTC drug products for both the US and Canada.
Press - Dr. Robert A. Vukovich, +1-941-552-7880, or +1-941-504-1229, or Wendy Shusko, +1-941-552-7881. Canada: Bonnie Feeney +1-905-337-4500.
|SOURCE WellSpring Pharmaceutical Corp.|
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