07.01.11
Salt Lake City, UT-based Schiff Nutrition International, through its subsidiary Schiff Nutrition Group, has purchased certain assets and assumed certain liabilities of Ganeden Biotech, Inc., Cleveland, OH, for $40 million in cash. Schiff now owns the worldwide exclusive rights to use the leading probiotic technology GanedenBC30 (Bacillus coagulans GBI-30, 6086) in the over-the-counter and dietary supplement space and the leading brands Sustenex and Digestive Advantage under which BC30 is currently sold. Ganeden and Schiff also intend to collaborate on extending the use of probiotic technologies into new areas of human health. GanedenBC30 has more than 95 U.S. and foreign patents and patent applications. The assets and brands acquired from Ganeden generated net revenue of approximately $17 million for the year ended December 31, 2010.