Branded Legacy Inc. (OTC:BLEG) Stock Trends Lower: But Why?
On Thursday, there were a large number of companies that had been in the news cycle for a variety of reasons, and one such company was Branded Legacy Inc. (OTC:BLEG). The biotech holdings company announced yesterday that it had inked a letter of intent with regards to the acquisition of Sycamore BioPharma LLC. Sycamore is a well-known plant-based pharmaceutical development company.
It was a strategic move from the company that was aimed at strengthening its presence in the biotech space and boosting its standing as a major player in the industry. Sycamore is regarded as a prolific developer of products in its industry and provides a carefully curated range of wellness solutions. Its products range from pain-relieving tropical creams to compression sleeves and gummies. Currently, Sycamore boasts more than $2 million in assets and in excess of $500,000 in inventory, which is read for sale. The acquisition target is well known for its commitment to authenticity and quality. Due to its commitment to using natural ingredients in its products, Sycamore has also garnered a strong reputation in the industry.
The Chief Executive Officer of Branded Legacy, David Oswald, spoke about the deal yesterday. He noted that there was excitement about the fact that Sycamore was going to join the companies under the company’s control. He went on to state that the acquisition would not only help in augmenting its current portfolio but was also a demonstration of Branded Legacy’s commitment to advanced solutions in the health and wellness space.
In the news release, it was also noted that the acquisition would help in the creation of synergies across a wide range of business lines for the two companies. It may well be a good time for investors to add the Branded Legacy stock to their watch lists.
