NBTY, Pharmachem Buy Global Health Subsidiaries

NBTY, Pharmachem Buy Global Health Subsidiaries

ORANGE, Calif.--Global Health Sciences, which filed for bankruptcy protection in January, closed the sale of its AmericanIngredients subsidiary in early April, and has entered a contract with NBTY for other assets of the company.

According to Howard Simon, president of American Ingredients, the U.S.Bankruptcy Court for the Southern District of California, on April 3 approvedthe sale of the assets of American Ingredients to Pharmachem Labs. The saleclosed on April 10. Pharmachem had the best set of strategic reasons for itspurchase, Simon said. He added that he would stay on as president of AmericanIngredients, which will operate as a division of Pharmachem. Pharmachem is basedin Kearny, N.J.; its other subsidiary is H. Reisman.

On April 6, NBTY released notice that it had entered a contract to purchasesubstantially all assets of Global Health Sciences Inc. and certain operatingsubsidiaries. NBTYs release noted that the subsidiaries to be purchased bothmanufacture nutritional supplements in California. The two remainingsubsidiaries of Global Health Sciences are both contract manufacturers; D&FIndustries specializes in tablets and capsules, while Omni-Pak focuses onpowders and shakes. The sales price was not disclosed, and is subject toapproval by the U.S. Bankruptcy Court.

At press time, calls to Global Health Sciences and NBTY had not beenreturned.