May 17, 2020

Reckitt Benckiser inks deal to acquire Schiff Nutrition for $1.4 bln

dietary supplements maker
Salt Lake City-based Schiff
2 min
Reckitt Benckiser inks deal to acquire Schiff Nutrition for $1.4 bln
Reckitt Benckiser Group Plc has agreed to buy Schiff Nutrition International Inc in a transaction worth the dietary supplements maker for about $1.4 bi...

Reckitt Benckiser Group Plc has agreed to buy Schiff Nutrition International Inc in a transaction worth the dietary supplements maker for about $1.4 billion.

Its board has approved the offer of $42 a share in cash and will recommend its investors tender their shares, England-based Company said.

When the offer was announced on November 15, it valued Schiff at about 28 times earnings before interest, taxes, depreciation and amortization and represented 81% premium to Schiff’s share price on October 26, before Bayer’s offer.

Reckitt Benckiser’s counterbid for Salt Lake City-based Schiff, the maker of Move Free  joint-care pills, Tiger’s Milk nutrition bars and MegaRed Omega-3 supplements, exceeded Bayer’s offer of  about $1.1 billion. 

The purchase of  Schiff will follow a string of acquisitions since 2006, including Adams Respiratory Therapeutics Inc and SLL  International Plc, the maker of Scholl foot products.

 The company Reckitt Benckiser will finance its purchase with cash and current credit facilities and also expects the tender offer to close before the end of the year. 

Bayer, headquartered in Leverkusen, Germany had agreed to acquire Schiff for $34 a share. 

Reckitt Benckiser started an unsolicited tender offer for Schiff on Nov 16 and on Nov 20, Bayer said it will not raise its bid for Schiff as the price would have been too high.  

Reckitt Benckiser’s offer valued Schiff about 28 times Ebidta.  Morgan Stanley is providing financial assistance to Reckitt Benckiser.  Schiff was advised by bankers including Bank of America Merril Lynch,  Rothschild and Houlihan Lokey .  

Reckitt Benckiser Plc is a British multinational consumer goods company based in Slough, UK. It is the largest producer of household cleaning products and is also a major producer of consumer healthcare and personal  products.  

Schiff Nutrition International Inc is a leading nutritional supplement company offering over 400 SKUs in vitamins, nutritional supplements and nutrition bars in the U.S. and throughout the world.

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Jun 17, 2021

Dexcom: changing the lives of people with type 1 diabetes

3 min
British actress Nina Wadia OBE tells us how her son's life has changed since using glucose monitoring system Dexcom

It is estimated that 9.3% of adults around the world are living with type 1 diabetes, which amounts to a total of 463 million people. A further 1.1 million children and adolescents under the age of 20 are living with the condition. 

Unlike the more prevalent type 2 diabetes, where the body still produces insulin and symptoms develop slowly, people with type 1 diabetes need regular insulin injections or pumps, and must monitor their sugar levels frequently. 

In recent years a number of remote glucose monitoring systems have become available that patients can use at home. These work with a sensor, usually placed under the skin, that measures glucose levels every few minutes. This information is then transmitted wirelessly to a device like a smartphone or tablet, which can then be shared with their clinician. 

British actress Nina Wadia's son Aidan, 14, has type 1 diabetes, and has been managing his condition using Dexcom, a glucose monitoring system used by patients all over the world. Here Wadia explains how Dexcom has improved their lives. 

As a parent of someone with type 1 diabetes, what is your day-to-day life like?
Being able to take a breath, think and pivot constantly without getting frustrated becomes an essential mindset because sometimes it feels like each day is determined to be different from the day before. Whatever worked yesterday is going to misfire today. 

Which areas of yours and Aidan’s life are most impacted by diabetes? 
The one thing that you have to fight hard to reclaim is spontaneity, especially when it comes to food and exercise. It’s only when this is taken do you realise how essential each one is. You can be flexible and there are no real limits, but only in the sense that a great athlete can be flexible without limits because they’ve trained super hard to be that way. So we’ve all had to become athletes when it comes to being spontaneous.

How has Dexcom helped you and Aidan? 
Dexcom has brought future science fiction to real life today. The continuous glucose monitoring system is tiny, sits discreetly on his body and gives him a ten-day breather between sensor changes, so it's goodbye finger-pricking seven times daily. 

Dexcom is totally active at a grass roots level and for Diabetes Awareness has pledged to donate £2,000 if #DexcomDiabetesStories and/or #DexcomWarriorStories is shared 200 times! I’ll be sharing more on social media and would love to hear how other families are winning their fights.

Maybe most importantly Dexcom is trying to introduce a reimbursement programme for type 1 diabetes  patients which will give greater access to modern, life changing hi-tech. I want to spread the word on the importance of accessing it through this campaign. 

If you compared your life today with how it was before Aidan was using Dexcom, what has changed? 
It's always working, which lets him take his mind off diabetes for longer stretches. It also lets me get off his back. We both receive alerts so I no longer have to pester him by asking him what his number is, and especially importantly, I don’t have to wake him at night to prick his finger if I’m worried. Dexcom gave us back our sleep!

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