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Industry Roundup: Cardinal Buys Harvard Drug, Similac Lawsuit, State AGs Question Supplement Oversight

Cardinal acquires Harvard Drug; Similac ‘organic’ claims deceptive – complaint; N.Y., Ind. criticize supplement regulatory flexibility; Amway headquarters manufacturing site opens; and more news in brief.

Cardinal Health Inc.broadens its OTC drug portfolio by acquiring Harvard Drug Group, a distributor of Rx and nonprescription generics and related products to retail, institutional and alternate care customers, from Court Square Capital Partners for $1.115 billion in cash and new debt. Dublin, Ohio-based Cardinal said June 5 the acquisition also expands its telesales programs and capabilities; and brings specialized packaging offerings to meet the needs of hospital systems and other institutions. Harvard changed its name in 1997 from Great Lakes Wholesale to include all its divisions under one business name and since then acquired additional businesses – including drug compounding, Rx and veterinary drugs and home health care Also see "Harvard Drug Continues Expansion With Watson’s Rugby OTC Business" - Pink Sheet, 5 November, 2012.. Cardinal said Harvard Drug had revenues of around $450 million in 2014; 450 employees and two distribution facilities are included in the transaction.

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