Advanced Polymer Systems Inc. (APS) announced that it hascompleted its acquisition of Premier Inc., a marketing anddistribution company specializing in over-the-counter drug andtoiletry products.
APS (NASDAQ:APOS) of Redwood City, Calif., will exchangeapproximately 450,000 shares of common stock for all theshares of Premier.
Premier had 1992 revenues of about $7. 5 million. Thecompany said the merger represents an ongoing verticalintegration of APS and should allow the company to developand add products using its Microsponge delivery system fortopical applications.
APS will receive exclusive rights to market and distributesunscreens Sundown and Johnson & Johnson's Baby Block, andobtain makeup remover Take-Off, licensed from J&J, as well asshoe and foot deodorent EveryStep and acne medication Exact.
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