Columbia Labs

Company moves forward in its attempt to shed its OTC marketing presence by signing an agreement with Lil' Drugstore Products. Under the deal, Lil' Drugstore is purchasing the Replens and Diasorb brands and acquiring the U.S. licensing and trademark rights to Legatrin and Vaporizer in a Bottle for "$4.5 mil. plus existing inventory on closing, a royalty stream in excess of $1 mil. annually," Columbia announces April 20. Lil' Drugstore will have the option to buy full rights to the latter two brands for "several million dollars." Proceeds from the sales will be used to focus on Columbia's Rx offerings. The firm is retaining the OTC Advantage-S spermicide as well as its vaginal pH reducer Miphil