Mylan (MYL - Get Report) on Monday announced it will acquire global rights to the Cold-Eeze brand cold remedy line from ProPhase Labs for $50 million.

Cold-Eeze's U.S. offerings include zinc-based lozenges, gummies, oral sprays, capsules and oral liquid dose forms.

Cold-Eeze will become Mylan's largest U.S. OTC brand franchise and builds upon its $1 billion global OTC business, which also includes Dona, Betadine, Saugella, ArmoLipid, CB12, Brufen, EndWarts, Froben, Ferrograd, MidNite and Vivarin.

Closing of the proposed sale is expected to occur in the first quarter of 2017.