Global Health Sciences
This article was originally published in The Tan Sheet
Executive Summary
Nutritional supplement maker files for bankruptcy Jan. 29 to facilitate sale of its business "as a going concern" through a competitive bidding process. Chapter 11 filing comes more than a month after GHS filed a breach of contract lawsuit alleging Herbalife reneged on a longstanding oral agreement to use GHS as its sole supplier. Herbalife accounted for roughly 57% of GHS' 1999 sales (1"The Tan Sheet" Jan. 22, p. 13)
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NBTY intends to keep intact bankrupt Global Health Sciences' contract manufacturing business instead of using the acquired capacity for its own purposes, the supplement manufacturer told analysts during a conference call April 26.
NBTY Global Health Sciences $40 Mil. Acquisition Approval Pending
NBTY intends to keep intact bankrupt Global Health Sciences' contract manufacturing business instead of using the acquired capacity for its own purposes, the supplement manufacturer told analysts during a conference call April 26.