4th Jul 2023
Norwell Consumer Healthcare Announces Asset Acquisition of Boyd Pharmaceuticals
Montreal, July 4, 2023 – Norwell Consumer Healthcare Inc. (“Norwell”), a company focused on helping Canadians with their health and wellness needs by offering trusted, clinically proven over the counter (OTC) solutions, is pleased to announce that it has entered into a definitive agreement with Boyd Pharmaceuticals (“Boyd”) to acquire its portfolio of assets. As a result of this transaction, Norwell will take ownership of the Colace, Colace Glycerin, Dequadin, Allenburys and Gelusil brands in Canada.
This acquisition is a great strategic fit with Norwell’s current portfolio of brands in gastroenterology and cough & cold which includes leading brands such as Lax-a Day, Rhinaris and Helixia. It represents an important milestone, reinforcing its position in those categories and providing a good foundation for accelerated growth.
“Boyd Pharmaceuticals has worked hard to build their brands over the years, and we are confident that this acquisition strengthens Norwell's vision and goals of accelerating category growth within the consumer segments we participate in” stated David Bloom, General Manager of Norwell.
Norwell is committed to pursuing the legacy of these brands, while leveraging its commercial expertise, resources, and operational efficiency to drive sustainable growth and unlock new opportunities. The company is excited to welcome these trusted brands into its family and to continue to deliver high quality products and services to its consumers, patients, and customers.
ABOUT NORWELL CONSUMER HEALTHCARE INC.
Norwell Consumer Healthcare Inc. is a stand-alone consumer health care company that has the agility and flexibility to lead growth within the OTC category. Norwell Consumer Healthcare’s vision is to help Canadians manage their health and wellness needs by offering trusted, clinically proven OTC solutions to meet their under-served health and wellness needs. Norwell’s brand portfolio includes brands such as Lax-A-Day, Hemovel, Cystoplus, Cromolyn, Helixia, and Rhinaris. All of Norwell’s brands are trusted by its patients, consumers, Canadian health care professionals and customers. Norwell’s mission is to bring these solutions with an insight-driven, focused, innovative, agile, and collaborative approach. Norwell is an affiliate of the Pharmascience family of companies, which is the largest Canadian-owned pharmaceutical company and has an international presence spanning 50 countries.