COLD-EEZE Zinc-lozenge inventor to buy company that makes them

The acquisition will protect the company's intellectual property.
DOYLESTOWN, Pa. (AP) -- In a bid to protect company secrets, the company that invented Cold-Eeze zinc lozenges said it has signed an agreement to buy the candy maker that manufactures the tablets.
The Doylestown-based Quigley Corp. said it has agreed to acquire JOEL Inc. for $4.1 million in cash and $1 million in stock.
The sale, which the companies hope to have complete by Oct. 1, will include all land, buildings, machinery and equipment at JOEL's plants in Lebanon and Elizabethtown.
JOEL Inc. has been the only manufacturer of Cold-Eeze lozenges since their launch in 1995.
Studies
Some studies have indicated that the zinc tablets may shorten the life of the typical common cold by up to three days. Other studies have said the lozenges don't work.
Quigley chairman Guy J. Quigley said buying the factories that produce the lozenges won't necessarily save the company any money, but could have a great benefit when it comes to protecting the company's intellectual property.
"Producing Cold-Eeze is a highly complex process, which requires very specialized and technical know-how," Quigley said in a written statement. "Ownership of these assets will further protect our interests while tightening our control over the process, thus insuring the manufacturing formula is held secret."
Quigley has not yet made a decision about whether it will continue producing other products now manufactured by JOEL, including a line of organic hard candies sold under the College Farm brand.