Prestige Brands to acquire Insight Pharmaceuticals
Prestige Brands Holdings has entered into a definitive agreement to acquire Insight Pharmaceuticals, a marketer and distributor of feminine care and other over-the-counter (OTC) healthcare products, for $750 million in cash. Prestige will acquire tax attributes with a present value of approximately $100 million, which results in an effective purchase price of approximately $650 million.
The transaction will extend Prestige’s portfolio of OTC brands to include Insight’s feminine care platform anchored by Monistat, an OTC yeast infection treatment. Insight’s portfolio also includes EPT home pregnancy test products. The acquisition will give Prestige a platform in feminine care in the U.S. and Canada, while also adding other OTC brands to its cough/cold, pain relief, eye and ear and dermatological platforms.