In Brief

Pharma vets acquire Nutrition 21 assets; FDA approves Perrigo’s generic Mucinex; Pfizer closes Ferrosan consumer health deal; DEA allows PSE log flexibility; and more OTC drug and nutritional product market news In Brief

An investment group comprising pharmaceutical industry veterans acquires the assets of supplement ingredient developer Nutrition 21 LLC, which filed for Chapter 11 bankruptcy protection in August. According to a Nov. 23 filing with the Securities and Exchange Commission, the Purchase, N.Y., firm’s assets sold for $7.4 million. The investors include Michael Satow, Nutrition 21’s new CEO, and Phillip Satow, former executive VP of Forest Laboratories Inc., who now chairs Nutrition 21’s board, according to a Nov. 28 release. The Satows also co-founded Noven Therapeutics LLC, acquired in 2007 by Noven Pharmaceuticals Inc. Purchase, N.Y.-based Nutrition 21, which makes Chromax chromium picolinate, unsuccessfully ventured into finished supplement products and failed to redeem $17.75 million in convertible preferred stock Also see "Nutrition 21 Files For Bankruptcy, Hamstrung By Finished Product Detour" - Pink Sheet, 5 September, 2011..

FDA approves Perrigo Co. PLC’s abbreviated new drug application for guaifenesin extended-release tablets, the private labeler says Nov. 28....

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