- Associated Press - Thursday, June 2, 2011

SALT LAKE CITY (AP) — Vitamin and supplement maker Schiff Nutrition said Thursday it paid $40 million for digestive supplements developed by Ganedan Biotech Inc.

Under the deal, Schiff owns rights to the probiotic formulation used in over-the-counter brands Sustenex and Digestive Advantage. The companies plan to collaborate on future products using probiotics, which are supplements containing microorganisms believed to be beneficial.

Schiff said the brands acquired from Ganeden generated $17 million in revenue in 2010. The transaction is expected to increase Schiff revenue for the fiscal year ended May 31, 2012. The company plans to announce the impact on its financial position in July.

Schiff Nutrition International Inc. shares dipped 1 cent to $9.15 in morning trading.

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