Bionutrics buys Kirk

Executive Summary

Phoenix-based supplement and product development firm purchases OTC and generic drug manufacturer Kirk Pharmaceuticals and affiliate Andapharm for $12 mil. in cash and debt, Bionutrics announces July 25. Bionutrics CEO Ronald Lane says the acquisition adds Kirk's "manufacturing and development resources for new OTC drugs employing Bionutrics' proprietary drug technology." Bionutrics is shifting its primary focus from dietary supplement evolvE toward conducting clinical trials for new proprietary supplements "developed to address lipid metabolism and assist in the maintenance of normal cholesterol" slated for launch later this later, according to a June SEC filing...