BioProgress acquires PharmaHerb

UK speciality pharma and healthcare company BioProgress has acquired PharmaHerb, a UK-based vitamin and nutritional business, for £600,000.

PharmaHerb is a specialist otc products company, whose core activities include product formulation, manufacturing and packaging. The acquisition includes PharmaHerb's Kudos range of vitamin and nutritional products brands together with its sales and marketing capabilities.

The acquisition creates an otc platform for the BioProgress that will allow it to directly market its own otc ranges into its domestic market. Pharmaherb acquired the assets of Kudos in March 2007, which included packaging equipment, stock, formulations, intellectual property as well as sales and marketing agreements and established channels to the otc consumer market.

BioProgress expects immediately to create strong organic growth. Combining the Kudos and Dexo product ranges will provide a broader product portfolio to further develop and expand the acquired sales and distribution capabilities. In particular the business will be used as a base to launch future UK Soluleaves, Meltums and other XGEL-enhanced otc products.

'The acquisition of PharmaHerb and the Kudos brand is an important step as a launch pad for our own XGEL otc products and to generate revenues within the UK marketplace,' said ceo Richard Trevillion. 'The acquisition further strengthens our position and reflects our drive into the growing niche branded otc market.'