Nutriband Acquires Transdermal and Health Product Manufacturing Business

Nutriband Inc., a Nevada Corporation, has completed the acquisition of Pocono Coated Product's Transdermal and Health product manufacturing business, effective August 31, 2020.

Pocono Coated Products was established in 2004 with a focus on the manufacturing of custom coated products and providing manufacturing and development services for 3rd party partners. One main  area of focus for Pocono is on transdermal and topical product manufacturing.

Based on the Purchase Agreement, the value of the Nutriband common stock and cash used to acquire the business, Pocono's transdermal manufacturing business is valued at $7.5 million.

Following Nutriband's 2018 acquisition of 4P Therapeutics, the acquisition of Pocono's transdermal manufacturing business is a significant step in the development of Nutriband's growth and capabilities. Nutriband says it plans to consolidate the capabilities of both acquisitions to expand its business, enhance revenue stream opportunities, and advance in-house product development, specifically Nutriband's abuse deterrent technology for opioid-based transdermal medications, Aversa.

The acquisition also includes the simultaneous acquisition by Pocono of Active Intelligence LLC, a veteran-founded company and the manufacturer of Active Intelligence kinesiology tape, a product that provides muscle support combined with soothing ingredients for aches or muscle pain. The product is designed to mimic the skin's elasticity, so the user still has a full range of motion during its use.