Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By



This article was originally published in The Tan Sheet

Executive Summary

ADVANCED POLYMER SYSTEMS ACQUIRING PREMIER OTC DRUG/TOILETRY DISTRIBUTOR for approximately 450,000 shares of common stock, the company announced March 18. APS' stock has been trading in the $ 7-$ 9 range this year, making the purchase price between $ 3 and $ 4 mil. The company expects the acquisition to be completed within a month and plans to operate Premier as a wholly owned subsidiary. Premier, which had 1992 sales of about $ 7.5 mil., is the exclusive U.S. marketer of three Johnson & Johnson products -- Sundown and Baby Block sunscreens and Take Off make-up remover squares. The company distributes the products under long-term marketing agreements renewable in 1996. Premier also sells APS' two consumer products, EveryStep shoe and foot deodorant and Exact acne medication, which use APS' Microsponge controlled-release delivery system. APS had 1992 sales of $ 7.3 mil. "Premier brings to APS solid sales, marketing and distribution capabilities for OTC products, a key step we have envisioned for the the development of our company," APS stated, adding that "Premier's market position in the sun protection field should be of long-term value to APS." APS is seeking FDA approval for ProZone, a sunscreen product containing genetically engineered melanin. ProZone is in Phase III clinical trials. APS expects to complete clinical testing by the end of 1993. The company also has a tretinoin acne medication in Phase III trials. Both products use the Microsponge technology. Premier's headquarters will remain in Greenwich, Conn., where it leases a 48,068 square foot facility. The six-year-old firm was founded by Advanced Polymer Systems President and Chairman John Meakem before he joined APS; he is a major shareholder in Premier. The firm has 12 employees and is headed by Robert Albus, who will continue as president following the acquisition.

You may also be interested in...

People In Brief

Perrigo promotes in pricing, planning

In Brief

Combe sells most of its OTC brands

Supplement GMP Warning Letters Make Modest Debut In 2010

Finalization of a settlement between the Federal Trade Commission and Rexall Sundown regarding unsupported cellulite treatment claims for the firm's Cellasene dietary supplement hinges upon approval of two related class action settlements pending in California and Florida, according to FTC





Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts