PITTSBURGH — Mylan N.V. plans to acquire the global rights to the Cold-EEZE over-the-counter cold remedy brand from ProPhase Labs Inc.
Under the agreement, Mylan’s U.S. OTC subsidiary will buy substantially all of the assets and other rights relating to the Cold-EEZE brand. Financial terms weren’t disclosed.
Cold-EEZE products sold in the U.S. market include zinc-based lozenges, gummies, oral sprays, capsules and oral liquid dose forms. According to Mylan, Cold-EEZE’s cold remedy zinc gluconate lozenges are a leading product in the homeopathic category and have been clinically shown to shorten the duration of the common cold.
With the acquisition, Cold-EEZE will become Mylan’s largest U.S. OTC brand franchise. Its global OTC business includes such brands as Dona, Betadine, Saugella, ArmoLIPID, CB12, Brufen, EndWarts, Froben, Ferrograd, MidNite and Vivarin.
“The acquisition of Cold-EEZE further builds upon our $1 billion global OTC business and helps us to enhance our presence in the U.S. OTC market,” stated Mylan president Rajiv Malik. “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 our presence in the global OTC market through product acquisitions, marketing and line extensions, and opportunities to leverage our portfolio into new markets.”
Mylan said it expects the transaction to close in the first quarter, pending approval of ProPhase Labs shareholders and other customary closing conditions.