MORRISTOWN, N.J., June 20 /PRNewswire/ -- Bayer Corporation's Consumer
Care Division has announced that it has purchased the RID line of lice-control
products from Pfizer Inc.(NYSE: PFE) Terms of the deal were not disclosed.
The RID purchase covers formulas, trademarks and patents related to the RID
brand, and a small quantity of finished-goods inventory. The sale does not
include employees or facilities.
"This acquisition is an important one for Bayer. It not only expands the
breadth of the consumer health care categories in which we compete," said Tim
Hayes, Region Head, North America & Sr. Vice President of Bayer's Consumer
Care Division, "but it also gives us yet another category leader, this time in
the lice-control product category. The RID brand fits well into our existing
portfolio of leading, over-the-counter (OTC) health care products, which
include some of the most trusted and recognizable brands in the world today."
The potential for future growth on the brand is very strong, explained
Hayes. He noted that RID has enjoyed double-digit average growth over the
past five years, and currently has a very significant market share.
The brand continues to strengthen its position, and just this month has
taken the lead in OTC lice-control technology, with the introduction of new
RID Mousse. RID is the first major lice-control brand to offer this patented
mousse technology. The innovative foam formulation is easy to apply and
dispenses the same maximum strength ingredients as RID Shampoo. "We are
confident that this effective, non-drip formula will have great appeal for
parents and their children, both new users and repeat customers," said Girard
Smith, Vice President, New Business Development. There are eight to 12 million
cases of lice infestation reported annually; approximately 60% of those, says
Smith, are new users. The new RID product is expected to join RID Shampoo,
RID Spray, and RID Egg Loosener Gel at retail at the start of the 2000 school
season.
With the purchase now complete, Bayer's sales force is marketing RID in
the United States and Puerto Rico, through its traditional retail channels.
Headquartered in Morristown, New Jersey, the Consumer Care Division of
Bayer Corporation markets leading over-the-counter drugs that include Bayer
Aspirin, Aleve, Alka-Seltzer, and One-A-Day vitamins, among others. Bayer
Corporation, is a research-based company with major businesses in health care,
life sciences and chemicals. It is a member of the worldwide Bayer Group, a
$29 billion international life sciences, polymers and specialty chemicals
group based in Leverkusen, Germany.
SOURCE Bayer Corporation
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