Gold Bond, Selsun Line Extensions To Help Drive Chattem’s 2007 Sales
This article was originally published in The Rose Sheet
Executive Summary
Chattem will rely on the launch of line extensions under core brands to drive revenue growth in 2007, the company announced during an Oct. 10 third quarter analyst call
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Chattem purchase
Johnson & Johnson's anti-cavity mouthwash brand ACT will be acquired by Chattem under an agreement in which the firm will pay $410 mil. in cash for five J&J and Pfizer Consumer Healthcare brands, Chattem announces Oct. 6. The transaction is subject to review and approval by the Federal Trade Commission and certain closing conditions, including J&J's acquisition of the Pfizer Consumer Healthcare division, which is expected to close by the end of the year (1"The Rose Sheet" July 3, 2006, p. 7). ACT would represent Chattem's first mouthwash brand; the firm also plans to acquire OTC brands Unisom, Cortizone, Kaopectate and Balmex. "These brands are responsive to advertising and can be extended with new products, which plays perfectly into our proven track record of growing brands through innovation and advertising," Chattem says. The pending transaction will be accretive to Chattem's earnings per share in 2007 and provides "excellent long-term growth opportunities for both sales and earnings," firm says...
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