As Sunscreen Scrutiny Heats Up, Besieged Bayer Sells Coppertone
Business wards daily is brought to you by Dell. Don't miss out on Dell small business month celebration. Get up to forty five percent off select computers with Intel core processors, call eight seven seven by Dell to speak with a small business technology advisor today. That's eight seven seven b u y de l l for tech advice and one on one partnership. From wondering, I'm David Brown. This is business wars daily on this Wednesday may twenty second decades ago coppertone built its brand around playfulness. It's now vintage at showing a small dog biting a little girls bathing suit couldn't help but make people smile. But these days sunscreen is very serious business. Skin cancer is the most common form of cancer in America. More than five million cases are diagnosed every year for many families sunscreen is no longer an optional purchase. And that makes it big business too. But when beset by complications witness the recent announcement that bear is selling coppertone sun care for five hundred and fifty million dollars. The buyer is German company buyers door, which owns Nydia skin care products. The purchase will increase Beiersdorf's presence in the US Bloomberg says, but the company will have to contend with pushback from. Environmentalists last year. Hawaii passed a ban on sunscreen containing two common chemicals known to harm coral reefs the ban could mean most big son care companies, including coppertone will need to consider reformulating their products last year. Bayer and other sunscreen manufacturers opposed passage of the Hawaii Bill several startups already offer sunscreen without those chemicals including super goop and tropic sport. The coppertone acquisition also comes closely on the heels of an FDA investigation into sunscreens that investigation determined that common sunscreen chemicals move quickly into the bloodstream, although that news sounded alarming. The FDA says absorption does not mean these chemicals or unsafe that will be the next investigation. In the meantime, the FDA urges, people continue to use sunscreen with an SPF of at least fifteen anyway, coppertone may have a big name, but it'll have to fight. For first place in the two billion dollar son care marketplace. One of its most formidable competitors a giant packaged goods company that we talked about just last week edge, well, which is acquiring online start up, Harry's razors also owned son care brands banana boat and Hawaiian tropic according to Bloomberg edge. Well, could push those brands toward the same kind of direct to consumer model that Harry's does so, well, given the messy -ness of the sun care space, Beiersdorf may be in for quite a ride Bayer's selling coppertone, which it just acquired last year to help it pay down debt, the giant, German healthcare firm, also acquired chemical company, Monsanto Bayer is now fighting some thirteen thousand lawsuits from plaintiffs claiming the got cancer from using Monsanto's weed killer roundup last week. A judge awarded two billion dollars to a couple who argued that they both got cancer from using the weedkiller Bayer denies the claims. But nevertheless, it is weeding out non essential lines of. Business. There's no doubt that any company selling chemicals from week killer to sunscreen is in for a lot more scrutiny. They better be able to take the heat. From wondering this business wars daily. Hey, listen. If you like our show shares with friend, which word of mouth is the best way to grow. I'm David Brown. Thanks so much for listening, and we'll see more. Business worse. Daily is brought to you by Dell. The clock is ticking on Dell small business month celebration. Enjoy up to forty five percent off select computers with Intel core processors, plus a free external hard drive with select computer purchases before it's too late. Call eight seven seven by Dell to speak with a small business technology advisor today. That's eight seven seven. B. U. Y. D E L L for tech advice and one on one partnership, eight seven seven by Dow.