Reckitt Benckiser successfully wrapped up its pursuit of Schiff Nutrition on Friday with the signing of a definitive merger agreement in a deal valued at $1.4 billion. Bayer officially relinquished its proposed acquisition on the same day.
The battle for Schiff Nutrition is on. Reckitt Benckiser on Friday commenced its previously announced tender offer to acquire all of the outstanding shares of Schiff Nutrition — a provider of branded vitamins, nutrition supplements and nutrition bars in the United States and elsewhere — for $42 per share in cash, or approximately $1.4 billion.
Beiersdorf, the U.S. subsidiary of Beiersdorf AG — a global skin care company based in Hamburg, Germany — has announced the appointment of Bill Graham as president and general manager of Beiersdorf North America.
PepsiCo has established a joint venture with a privately held, Germany-based dairy business, through which the companies will enter the growing U.S. dairy market in mid-July with innovative premium yogurt products.
The Food and Drug Administration should apply consistent regulatory standards across all biologics, Sandoz plans to state Friday in testimony at an FDA public hearing on draft guidances related to the development of biosimilars.