Atrium acquisitions boost revenues
This article was originally published in The Tan Sheet
Executive Summary
Canadian health and nutrition products manufacturer and marketer Atrium Innovations says acquisitions and organic sale growth drove a 15.5 percent increase in net revenues to $70.6 million in its 2009 first quarter. Atrium in January purchased probiotic firm Nutri-Health Supplements of Cottonwood, Ariz., and added German enzyme manufacturer Enzym-Arzneimittel-Berlin to its operations in late 2008 (1"The Tan Sheet" Jan. 12, 2009, In Brief). The Quebec City-based firm said May 12 that it anticipates increasing U.S. sales of Wobenzym N enzyme support formula, which is approved for sale at Whole Foods. Net earnings during the January-March period from continuing operations were essentially flat, inching up to $10.6 million from $10.5 million
You may also be interested in...
Atrium buys probiotic firm
Atrium Innovations adds Multi-Probiotic, a blend of 16 probiotic strains that sold $27 million in 2008, to its portfolio with its acquisition of Nutri-Health Supplements in Cottonwood, Ariz. Quebec City-based Atrium Jan. 5 says it also gained Sedona Labs, Meta Foods and Sedona Labs Pro in the $23.9 million cash deal. Atrium also will make two earn-out payments based on NHS product sales in 2009 and 2010
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.