Mylan N.V, a major distributor of over the counter medications, has acquired popular cold medication Cold-Eeze from ProPhase Labs Inc.
With the acquisition, Mylan will have access to all products under the Cold-Eeze brand, which include cough drops, gummines and throat lozenges, and stands to make Mylan one of the leading distributors of over the counter medications in the U.S.
Mylan also obtains all domestic and international rights, including U.S. businesses and domestic and international trademarks, associated with the brand.
“The acquisition of Cold-Eeze further builds upon our $1 billion global over the counter business,” Mylan President Rajiv Malik said. “We are excited to add another strong brand to our U.S. portfolio and see potential to build on its success by leveraging our expertise in the respiratory area. We also look forward to continuing to expand or presence in the global over the counter market, and to have the opportunity to leverage our portfolio into new markets.”
The deal is still has to go through a final approval from ProPhase Labs’ shareholders, but is expected to be final before from the end of the first quarter of 2017.
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