Boehringer Ingelheim Sells Pharmaton to IdeaSphere
Boehringer Ingelheim, Ingelheim am Rhein, Germany, has sold its natural healthcare business, Pharmaton SA, Lugano, Switzerland, to IdeaSphere, Inc., New York, NY. All three parties emphasized the further development and expansion of Pharmaton as a business and company, indicating that synergistic effects would not come through downsizing or cost cutting, but by market expansion and a complementary product portfolio. Further, the Lugano location would be strengthened by adding new capacities to establish it as a center of excellence for R&D, manufacturing and marketing of natural health and multivitamin products. IdeaSphere will take over the Pharmaton business and brands in their entirety. Both companies agreed to cooperate on manufacturing specific products of the respective company. To facilitate the transfer of the business, Boehringer Ingelheim will continue to distribute Pharmaton products during a transitional period. Financial terms of the transaction were not disclosed. (For more information on this deal, see this month’s Word from Wall Street column, which can be found on page 28).