In Brief: Nutrition Medical IPO
This article was originally published in The Tan Sheet
Executive Summary
Nutrition Medical IPO: Expects to raise $3.9 mil. from initial public offering of 1.25 mil. shares of common stock at $3.50 per share. The company has granted the underwriter, Miller, Johnson & Kuehn, an option to purchase up to 187,500 more shares to cover over-allotments. Nutrition Medical has applied for trading on the Nasdaq SmallCap Market under the symbol "NMED." The firm markets three private-label nutrition products, each in vanilla, strawberry and chocolate flavors, that it says are "equivalent in quality and efficacy to leading national brands" such as Ross Labs' Ensure. The products sell in nine retail chains comprising 5,000 stores nationwide. Nutrition Medical also sells six generic critical care nutrition products in the hospital/nursing home market. The company is developing an infant formula, which is at least a year away from the market. The Minneapolis-based firm was incorporated in 1993...
You may also be interested in...
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
In Brief
Combe sells most of its OTC brands
People In Brief
Perrigo promotes in pricing, planning