ProPhase Labs Inc., Doylestown, says it has sold its Cold-Eeze brand zinc throat drop business to Mylan NV for $5o million. ProPhase will continue to own its plant in Lebanon, Pa., and to develop new therapies, including a male sex drive pill; and ProPhase's Pharmaloz subsidiary "will enter into a manufacturing and supply agreement with Mylan," the company said.
With 54 employees, according to its last annual report, ProPhase has sales of around $20 million a year, and has lost money (on a net-income basis) in 8 of the past 10 years. The stock has traded around $2 since 2014. The company is 24 percent owned by insiders led by chairman and CEO Ted Karkus.