Fri Dec 19 2008
Theodora Oringher Miller & Richman Represents Laclede, Inc. in Its Sale of Biotene to GlaxoSmithKline
Theodora Oringher Miller & Richman PC is pleased to announce its representation of Laclede, Inc. in connection with its sale of its Biotene product line, a leading dentist-recommended Dry Mouth Therapy, to GlaxoSmithKline (NYSE: GSK), a research-based pharmaceutical and health care company. The transaction was valued at $170.8 million.
Laclede, Inc. is a privately held company that has led the development of products which utilize the body's natural defense systems for the prevention and treatment of dry mouth. Biotene is reportedly the world's number one dentist and hygienist recommended Dry Mouth product for the growing population that suffers from this condition.
"Working with dynamic and visionary entrepreneurs like Michael Pellico and his brother Stephen, the two shareholders of Laclede, Inc., provides us with the continuing opportunity to help those with the will, perseverance and commitment to realize their business and financial goals," said Bruce Dizenfeld, Senior Attorney at Theodora Oringher. "In this case, they were able to take their Biotene product line and put it in the hands of a company with greater capital and worldwide exposure. It's a real success story. I have no doubt that Michael and his brother Steve will be back in the laboratory developing and designing exciting new products."
Theodora Oringher's team included Bruce E. Dizenfeld, Linda O. Hatcher and Courtney C. Hill.
About Theodora Oringher Miller & Richman
Theodora Oringher is a 40-attorney business transactional and litigation law firm with clients in a broad range of industries and practice areas, including health care, real estate, construction, public works, employment, government relations, and sports and entertainment. The Firm also represents start-ups and many midsize companies. Theodora Oringher has offices in Los Angeles and Orange County.