MADISON, N.J., July 15 Wyeth ConsumerHealthcare, a division of Wyeth (NYSE: WYE), announced today that it hassigned an agreement to purchase ThermaCare(R), a leading over-the-counter heatwrap, from Procter & Gamble (NYSE: PG). The transaction is expected to closewithin the next few months.
ThermaCare fits Wyeth Consumer Healthcare's strategy to accelerate growththrough innovation, organic geographic growth and strategic acquisitions inthe division's base business, which includes some of the world's best-sellingpain management, respiratory, nutritional, gastrointestinal and topicalproducts. ThermaCare will join the company's pain franchise that includesAdvil(R) -- one of the world's leading oral pain relievers -- and will enhanceWyeth's global position in pain management.
"ThermaCare is a great brand and a strategic fit for our pain managementfranchise," says Cavan Redmond, President, Wyeth Consumer Healthcare. "We areexcited about the brand's growth potential. Millions of consumers haverelied on ThermaCare for consistent, uniform heat to help them be as active asthey want to be."
ThermaCare is currently sold in the United States, Canada, Germany, theUnited Kingdom, Ireland, Switzerland and Austria.
The heat wraps are manufactured in Albany, (Ga.) in a facility that willbe maintained by Wyeth after the transaction closes. The employees whomanufacture ThermaCare at the existing Albany (Ga.) Procter & Gamble facilitywill become Wyeth Consumer Healthcare employees with the transition offacility operations to Wyeth.
Introduced in the United States in 2002, ThermaCare Heat Wraps use heattherapy to relieve minor arthritis, muscle, joint and menstrual pain. TheThermaCare line currently contains six products: heat wraps for the lowerback and hips, and neck and shoulders; heat patches for menstrual pain; andheat wraps for arthritis in the hands and wrists, knees and elbows, and neckand shoulders. Arthritis Heat Wraps were launched in the United States inSeptember 2007.
The product line for relieving lower back and hip, neck and shoulder andmenstrual pain provides heat for eight hours. The arthritis heat wrapsprovide heat for 12 hours. Once applied to the skin, the wraps produceconsistent heat of 104 degrees Fahrenheit (40 degrees Celsius) ... warmenough to ease pain and relax muscles, but also safe when used as directed.
Wyeth Consumer Healthcare, a division of Wyeth, is one of the world'sleaders in the development, manufacturing and marketing of non-prescriptionmedicines, vitamins and nutritional products, including established brandssuch as Advil(R), Centrum(R), ChapStick(R), Dimetapp(R) and Robitussin(R).
Wyeth is one of the world's largest research-driven pharmaceutical andhealth care products companies. It is a leader in the discovery, development,manufacturing and marketing of pharmaceuticals, vaccines, biotechnologyproducts, nutritionals and non-prescription medicines that improve the qualityof life for people worldwide. The Company's major divisions include WyethPharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.
The statements in this press release that are not historical facts areforward-looking statements that are subject to risks and uncertainties thatcould cause actual results to differ materially from those expressed orimplied by such statements. These risks and uncertainties include, withoutlimitation, the inherent uncertainty of the timing and success of, and expenseassociated with, research, development, regulatory approval andcommercialization of our products and pipeline products; government cost-containment initiatives; restrictions on third-party payments for ourproducts; substantial competition in our industry, including from branded andgeneric products; emerging data on our products and pipeline products; theimport