Mylan to Acquire OTC Cold RemedyBy
Mylan has agreed to acquire global rights to the Cold-EEZE brand cold remedy line from ProPhase Labs, a Doylsetown, Pennsylvania-based distributor of over-the-counter (OTC) cold remedies and consumer products. The Cold-EEZE brand includes zinc-based lozenges, gummies, oral sprays, capsules, and oral liquid dose forms. Cold-EEZE will become Mylan’s largest US OTC brand franchise and further augment its US OTC business.
Under the agreement, Mylan, through its US OTC subsidiary, will purchase substantially all of the assets and other rights relating to the Cold-EEZE brand, including all US businesses and US and international trademarks. The closing of the proposed sale, which is currently expected to occur in the first quarter of 2017, is subject to approval of the shareholders of ProPhase Labs and other customary closing conditions.