Click here to sign up for one of our email newsletters.
On the Grid
From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.
GlaxoSmithKline's Pittsburgh-based Consumer Healthcare unit has acquired for $566 million cash CNS Inc., maker of Breathe Right nasal strips and FiberChoice dietary fiber supplements.
The deal values Minneapolis-based CNS at $37.50 per share, a 31 percent premium over CNS's stock closing price last Friday. The deal is expected to close early next year.
"This outstanding business provides a greater global growth opportunity for GSK," said GlaxoSmithKline Consumer Healthcare President John Clarke, in a statement. "CNS is a well-managed company. Its two major brands, Breathe Right and FiberChoice fit our growth strategy and are great additions to our portfolio."
GlaxoSmithKline Consumer Healthcare, maker of such products as Tums, Aquafresh toothpaste and Nicoderm CQ, said that CNS's one-year sales through June 30, totalled $118.5 million, up 18 percent from one year earlier. Some 86 percent of the company's revenues are generated in the United States.
Breathe Right has delivered 12 percent and FiberChoice 54 percent compound annual growth rates in sales, respectively, over the past three years. For GSK, the transaction will be neutral to earnings in 2007, and add to earnings in 2008.
"This transaction will deliver excellent value to our shareholders," said Marti Morfitt, CNS' chief executive, in a statement.
Breathe Right strips, which open nasal passages for better breathing are the leading nasal strip. The strips fit on the outside of the nose and are designed to treat congested breathing due to colds and allergies. Athletes also are big users of the nasal passage opening product.
Both Breathe Right and FiberChoice are supported by patents in the U.S. and key markets worldwide, and by scientific evidence for their product claims, CNS said.
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
A division of Trib Total Media is your one-stop-shop for all of your branded merchandise needs.
We specialize in providing quality affordable promotional products for every type of business including non-profits, schools, universities, sports teams and more. With 1000’s of products to choose from, our knowledgeable staff can help you find the perfect apparel item or product to suit your needs and budget.
Why use TPSolutions?
• Quality, brand name, screen printed and embroidered apparel
• Competitive prices
• Free design services
• Volume and non-profit discounts available
• Quick turn around
We offer a wide variety of traditional and new digital advertising options customized to fit your needs!
Whether you're just starting out, or you've been a keystone in the community for years, our knowledgeable staff can provide you with a customized package including online banners/advertisements, Social Media Marketing (Facebook / Twitter), Website development, Search Engine Optimization, Email Marketing solutions and much more!
Contact your local sales rep today for details, personalized proposal and a meeting to discuss how we can meet your needs.