Meda Consumer Healthcare Inc. completed the acquisition of global rights to Cold-EEZE® brand from ProPhase Labs, Inc..
March 28, 2017
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Meda Consumer Healthcare Inc. entered into an asset purchase agreement to acquire global rights to Cold-EEZE® brand from ProPhase Labs, Inc. (NasdaqCM:PRPH) for $50 million on January 6, 2017. Under the terms of the agreement, Meda will purchase substantially all of the assets and other rights relating to the Cold-EEZE® brand, including all U.S. businesses and U.S. and international trademarks. In case of ProPhase Labs terminates the transaction, Meda Consumer Healthcare will pay to ProPhase Labs $5 million as termination fee. In case Meda Consumer Healthcare terminates the transaction, ProPhase Labs will pay to Meda Consumer Healthcare $1.5 million as termination fee. As of January 6, 2017, ProPhase Labs, Mylan and each of the directors and stockholders of ProPhase entered into a voting agreement wherein ProPhase executive officers and Directors to vote all of the shares owned by them in favor of the adoption of the transaction. The transaction, subject to approval of the shareholders of ProPhase Labs and other customary closing conditions, is expected to occur in the first quarter of 2017. The transaction is now expected to close in late March or April 2017. Daniel Keating and Jessica A. Bisignano of Hogan Lovells US LLP acted as legal advisor for Mylan, the parent company of Meda Consumer Healthcare. Herbert F. Kozlov of Reed Smith LLP acted as legal advisor and Bourne Partners acted as financial advisor for ProPhase.
Meda Consumer Healthcare Inc. completed the acquisition of global rights to Cold-EEZE® brand from ProPhase Labs, Inc. (NasdaqCM:PRPH) on March 29, 2017. ProPhase Labs stockholders approved the transaction on March 29, 2017 at the special meeting of stockholders.
ProPhase Labs, Inc. is a biopharma, genomics, and diagnostics company. The Company provides whole genome sequencing solutions, while developing potential diagnostics and therapeutics in the fight against cancer. This includes a potentially life-saving cancer test focused on early detection of esophageal cancer and potential breakthrough cancer therapeutics with novel mechanisms of action. Its segments include diagnostic services and consumer products. The diagnostic services segment provides COVID-19 diagnostic information services to a broad range of customers in the United States, including health plans, third party payers and government organizations. The consumer products segment is engaged in the research, development, manufacture, distribution, marketing and sale of over-the-counter consumer healthcare products and dietary supplements in the United States and also provides personal genomics products and services. Its CLIA labs and diagnostic technology provide wellness solutions.
PROPHASE LABS, INC. 
