Innovation at ProPhase Labs

At ProPhase Labs, we lead the market in the ways that we interact with our consumers and with the innovative products that we introduce, which are always both safe and highly effective.

Since new management took the helm in 2009, we have implemented many product innovations. Two years ago we improved the taste of our lozenges and gave our packaging a much needed facelift. This included an insert in every package with a message from me and an invitation to reach out directly to me to provide consumer feedback. (I personally read and respond to every email!)

Last year, we launched our Cold-EEZE Cold Remedy Oral Spray, which provides all of the benefits of our best-selling lozenges in a quick, convenient form that provides 90 sprays (45 doses) in every bottle. It’s an excellent value and great for on-the-go.

After extensive testing and research, as well as earnestly communicating with our loyal Cold-EEZE fans, we identified important needs for our consumers: a fast-dissolving tablet and nighttime relief. We listened and we responded this past cold season by introducing our new Daytime/Nighttime QuickMelts in a great mixed berry flavor which dissolve quickly in your mouth without water. We are excited to have introduced an effective cold remedy to our consumers that not only shortens their colds (just like our clinically proven lozenges) but our Nighttime QuickMelts also provide a great night’s sleep, naturally.

With these innovations, we are better able to serve our consumers with new ways of enjoying Cold-EEZE Cold Remedy’s cold-shortening benefits. Needless to say, the response has been overwhelmingly positive.

We continue to provide new ways of interacting with our consumers which we consider another form of innovation. Whether it’s hearing from me directly, or from a member of my team, Cold-EEZE fans are accustomed to immediate and helpful responses to their questions and comments about our products. Online, we work hard to complement the cold-shortening effects of our products by offering content and information that helps our consumers feel better when they’re sick. Whether it’s with our products themselves, fun images that bring a smile to someone’s face, important health news, or our resident doctor–available to answer any cold-related question via our award-winning Facebook application available during cold season–we want to help our consumers get well faster. We also make it a point to answer every consumer question thoroughly, to thank everyone who recommends Cold-EEZE to a friend, and to send our well-wishes to those who are sick to make sure that all of our fans feel appreciated and listened to.

We’ve also taken an interest in the local, hometown causes that warm our fans’ hearts. With Cold-EEZE “Share Your Cause, Not Your Cold,” we ask our Facebook fans to nominate local causes every month that they care about. We then select 5 finalists each month which are voted on by our Facebook fans. The winning cause receives $1,000 from Cold-EEZE, and the person who nominated the cause is awarded a video camera that they can use to film a short video about their cause to help continue to spread the word.

As a company, we’ve created a collaborative atmosphere. We leave our egos at the door, we listen to our consumers and we work hard together to solve challenging problems that result in original, creative new product ideas. So stay tuned–we have great innovations on deck for this year.

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Why I chose to run ProPhase Labs

People ask me why someone with a Wall Street background is CEO of a small, public specialty Pharma company like ProPhase Labs. The answer is that I am passionate about turning companies around and doing right by shareholders.

In 1998 I invested in and consulted to the vaccine company ID Biomedical when it was valued at $25 million dollars and on the verge of bankruptcy. I pressured the board of directors to implement difficult but necessary management changes as well as changes in their strategic focus. 7 years later, the company was sold to GlaxoSmithKline for over $1.4 billion.

While consulting to ID Biomedical, I similarly invested in and consulted to ProPhase Labs for more than 10 years. After a series of disappointments and questionable activities, I was motivated to create change and protect shareholder’s interests. Against all odds, I singlehandedly initiated a proxy contest to remove the board of directors and take control of the company. This included having to suffer through two federal lawsuits on my way to winning a shareholder election by the narrowest of margins. (The prior management owned a lot of stock!)

After winning the election and becoming CEO, I immediately started to implement my vision. My new team and I have significantly reduced overhead while stabilizing revenues with the goal of returning to profitability. We have created a new positive atmosphere in our company and introduced a new vision for future success.

I approach business relationships with candor and honesty — whether I’m talking to potential investors, vendors, partners, shareholders or employees. I am looking forward to sharing ideas in the forum and hearing yours.

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