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Top Articles - Topps to be Acquired by Eisner and Others
On March 6, 2007, Topps (TOPP) announced it agreed to be acquired for $9.75 per share in cash in a transaction valued at
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
$385.4 million. The maker of trading cards and confections (Ring Pop, Push Pop, Bazooka gum, etc.) will be acquired by
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
the Tornante Company and Madison Dearborn Partners. The Tornante Company was founded in 2005 by Michael Eisner – it is p
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
rivately held.
Topps was founded in 1938. Although it was always a chewing gum company, Topps didn't start selling the
Topps was founded in 1938. Although it was always a chewing gum company, Topps didn't start selling the
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
products it would become best known for until after the war. Following World War II, the company developed Bazooka Bubbl
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e Gum. In 1951, Topps added baseball cards.
The company had annual sales of $298.84 million in fiscal 2006. Topps deriv
The company had annual sales of $298.84 million in fiscal 2006. Topps deriv
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
es roughly half of its total revenue from each of its two business segments – 49.1% from confections and 50.9% from ente
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
rtainment.
Total sales have been stagnant for some time now. Sales actually declined slightly during 2005 and 2006. Alt
Total sales have been stagnant for some time now. Sales actually declined slightly during 2005 and 2006. Alt
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
hough sales have grown over the last twelve months (to over $300 million), the company is still far short of the $439.3
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
million in net sales it registered six years ago.
That recent high water mark was set during the height of the Pokemon
That recent high water mark was set during the height of the Pokemon
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
craze in 2000 – when those little Japanese monsters brought in $179.6 million (or 40.88%) of Topps' $439.3 million in to
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
tal sales. In a single year Pokemon sales plummeted by $155.5 million or 86.58%.
Here it seems right to add (with apolo
Here it seems right to add (with apolo
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
gies to Matthew) that all those who live by the fad die by the fad.
As you might expect, Topps had dealings with Disney
As you might expect, Topps had dealings with Disney
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
(DIS) during Eisner's reign. Whether this previous experience played any part in Eisner's decision to invest is anybody
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
's guess. In the press release announcing the deal, Eisner said only this:
"Topps is a wonderful company with a powerfu
"Topps is a wonderful company with a powerfu
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
l brand portfolio and a rich history. Topps' management team and employees are the best in the business, and we look for
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ward to working with all of them to grow the company in new and exciting ways."
According to the press release, Lehman
According to the press release, Lehman
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Brothers served as sole financial advisor to Topps. In February of 2005, the board of Topps "authorized the company to p
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ursue, with the assistance of Lehman Brothers, a sale of the candy business, believing such a step might provide value f
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
or the stockholders, in light of recent industry transactions at attractive multiples."
It seems Lehman did one better.
It seems Lehman did one better.
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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