GumTech will introduce antacid chewing gum with calcium carbonate in third quarter.
This article was originally published in The Tan Sheet
Executive Summary
GUMTECH TO INTRODUCE ANTACID CHEWING GUM IN THIRD QUARTER of this year, the Phoenix-based company said in an Aug. 14 release. The product will be available to retailers by late September and should make it to store shelves by November, GumTech said. The antacid gum will be marketed in spearmint-flavored squares containing 1,000 mg calcium carbonate in the gum's coating.
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GUMTECH TO INTRODUCE ANTACID CHEWING GUM IN THIRD QUARTER of this year, the Phoenix-based company said in an Aug. 14 release. The product will be available to retailers by late September and should make it to store shelves by November, GumTech said. The antacid gum will be marketed in spearmint-flavored squares containing 1,000 mg calcium carbonate in the gum's coating. The as-yet unnamed product will be the company's first OTC and the second antacid gum to reach the market, following Schering-Plough's Chooz, according to GumTech. Chooz also contains calcium carbonate. In addition to calcium carbonate, the GumTech product will contain aloe vera and essential oils, which reduce stomach acid, according to the company. The chewing gum base helps generate saliva, which additionally contributes to stomach acid reduction, the firm said. GumTech expressed confidence that the product complies with the existing OTC antacid monograph and said that it will be of "comparable" strength to other antacids. The company also is working on a nutrient chewing gum to relieve allergy symptoms. GumTech is hoping that the gum may be ready for launch late this year or early next year. The product is expected to be the first OTC to deliver allergy relief through a chewing gum system and will likely come in antihistamine and antihistamine/decongestant forms, the company said. Chlorpheniramine maleate is one active ingredient the company is looking at. Potential benefits offered by the gum delivery form include rapid onset of action and avoidance of drowsiness. GumTech develops, manufactures and markets nutrient chewing gum products under its own name and private labels. The company currently offers Chroma Trim and Citrus Slim diet gums, DentalHealth gum with baking soda, VitaAce antioxidant gum with vitamins A, C and E and Repose PMS gums for relief of pre-menstrual syndrome symptoms. GumTech also offers six gum products under the Jack LaLanne label, including a potassium and ascorbic acid "power" gum, a 16 mg calcium carbonate "digestive" gum and a ginseng gum. GumTech products are available in drug chains including Walgreens, Osco, Thrifty, Sav-On and Payless, the company said. GumTech has brought a new president and CEO on board to assist its move into the OTC area. Jerry Kern joined the company with nearly 10 years experience as president and chief operating officer of Meditech Pharmaceuticals, a proprietary drugs manufacturer, from 1983 to 1994. Most recently, he was president of Aura Systems, where he helped change the company's focus from aerospace to consumer products. From 1977 to 1980, Kern was exec VP and chief operating officer of the cosmetics company Max Factor. GumTech's former CEO, Richard Ratcliff, has been appointed chairman of the board, while John Epert, formerly president, has been named vice chairman and assistant to the CEO. GumTech reported net sales of $1.15 mil. for the second quarter, up 11% over the previous year's quarter, and a net loss of $338,812. The company said that financing activities generated $5.3 mil. in cash through June 30, including gross proceeds of $7.2 mil. from an initial public offering in April. |