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news.Boehringer Ingelheim has sold its natural healthcare business Pharmaton to IdeaSphere, a New York-based healthcare firm specializing in vitamins, minerals, nutrition products and herbs.
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Financial terms of the transaction were not disclosed. However, Boehringer Ingelheim did reveal that IdeaSphere will take over the Pharmaton business and brands in their entirety.
Both companies agreed about a cooperation to toll manufacture specific products of the respective company. To facilitate the transfer, Boehringer Ingelheim will continue to distribute Pharmaton products during a transitional period.
“We are glad to seize the opportunity to further strengthen and expand our international health care business while adding premium brands to our portfolio of products,” said Mark Fox, president & COO of IdeaSphere. “The acquisition of Pharmaton helps broaden our product portfolio towards new target audiences. It complements not only our geographical strength in North America with attractive market positions but also provides access to other strategic markets for IdeaSphere in Europe, the Middle East, Latin America and Asia.”
IdeaSphere already has plans for the further development and expansion of Pharmaton. The company plans to achieve synergistic effects not through downsizing or cost-cutting, but by market expansion and a complementary product portfolio.