Bradley payments to Berlex for Deconamine line reduced in exchange for 13% equity stake.
Executive Summary
BERLEX TO ACQUIRE 13% STAKE IN BRADLEY under a modification of the companies' 1993 agreement. Bradley acquired Berlex' Deconamine cold/decongestant line in 1993 for $16.5 mil., to be paid in multiple installments. Under the new agreement, Berlex will acquire 1 mil. newly issued shares (valued at $1.3 mil.), or 13% of Bradley.