BRADENTON, Fla. and OAKVILLE, Ontario, Sept. 2 /CNW/ -- 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.
WellSpring Websites: www.wellspringpharm.com, www.wpcoutsourcing.com,
Information regarding several of the newly acquired brands can be found
at the following web addresses: www.micatin.com and www.emetrol.com.
For further information:
For further information: 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 Web Site: http://www.wellspringpharm.com,