Wyeth trims Canadian OTC brands
This article was originally published in The Tan Sheet
The pharmaceutical and nutritional products firm becomes a leaner acquisition for Pfizer by divesting Anacin pain relief and other OTC brands in Canada to Paladin Labs. Montreal-based Paladin June 29 said it agreed to acquire multiple OTC products including Anacin (acetylsalicylic acid) and Anbesol (benzocaine) topical pain reliever. The firms did not disclose the terms of the deal, but market analysts said Paladin likely paid a discounted price because Wyeth was interested in divesting the brands in advance of being acquired by Pfizer for $68 billion (1"The Tan Sheet" Feb. 2, 2009). Wyeth sold the U.S. Anacin brand to Insight Pharmaceuticals in 2003. According to Paladin, which also markets Rx drugs, in 2008 the Wyeth Canadian OTC brands generated $4 million Canadian ($3.46 million U.S.)
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