08.28.14
Prestige Brands Holdings, Inc.—ranked No. 39 in Happi’s 2014 Top 50 Report—has agreed to divest assets and marketing rights for the over-the-counter motion sickness drug Bonine to settle Federal Trade Commission charges that Prestige’s proposed acquisition of Insight Pharmaceuticals Corporation would likely be anticompetitive.
Prestige owns Dramamime, which is the best-selling branded product in the market for over-the-counter motion-sickness drugs. Dramiamine and Insight’s Bonine, are the only two branded products with significant sales.
The FTC’s proposed settlement requires Prestige to divest Bonine to Wellspring Pharmaceuticals within 10 days after the acquisition takes place.
Prestige proposed to acquire Insight for $750 million in late April.
Based in Sarasota, FL, Wellspring produces a range of over-the-counter medications and markets them in the United States and Canada. Wellspring’s consumer products include Micatin athlete’s foot remedy and Glaxal Base, a skin moisturizers line.
The FTC will publish the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through Septe. 29, 2014, after which the Commission will decide whether to make the proposed consent order final.
Prestige owns Dramamime, which is the best-selling branded product in the market for over-the-counter motion-sickness drugs. Dramiamine and Insight’s Bonine, are the only two branded products with significant sales.
The FTC’s proposed settlement requires Prestige to divest Bonine to Wellspring Pharmaceuticals within 10 days after the acquisition takes place.
Prestige proposed to acquire Insight for $750 million in late April.
Based in Sarasota, FL, Wellspring produces a range of over-the-counter medications and markets them in the United States and Canada. Wellspring’s consumer products include Micatin athlete’s foot remedy and Glaxal Base, a skin moisturizers line.
The FTC will publish the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through Septe. 29, 2014, after which the Commission will decide whether to make the proposed consent order final.