ProPhase completes sale of Cold-EEZE brand; application to grow medicinal pot submitted in PA

|About: ProPhase Labs, Inc. (PRPH)|By:, SA News Editor

ProPhase Labs (NASDAQ:PRPH) completes its divestment of the Cold-EEZE brand netting ~$39.3M.

CEO Ted Karkus says, "We are now ready to focus our resources on growing our PMI manufacturing business and TK Supplements® product line. We expect to start shipping Legendz XL® to a major retail drug chain during Q2 2017. We will ultimately require additional distribution in order to achieve a successful launch. We are also in the early stages of pursuing additional opportunities in the technology industry. Finally, we recently submitted an application in the state of Pennsylvania to grow and process marijuana plants for medicinal purposes. We expect to receive a response from the state within the next 4-7 months. We believe that there are 12 potential licenses that will be issued for growing in the state but cannot estimate how many applications the state received or if our application will be accepted."