Columbia Labs' Replens
This article was originally published in The Tan Sheet
Executive Summary
Columbia regains rights to the vaginal moisturizer after severing existing licensing and supply agreement with Warner-Lambert, the firm announces March 25. "Replens will fit nicely into the company's existing group of over-the-counter pharmaceutical products, which include Legatrin PM, Diasorb and Vaporizer in a Bottle," thereby "minimally affecting existing sales and marketing overhead," Columbia says. The transaction is expected to be accretive to earnings. As part of the deal, Columbia issued a $10 mil. note to a private institutional investor that is convertible into approximately 629,000 common shares and matures in seven years...