<Page>

                                                                   Exhibit 10.31

Portions of this Exhibit were omitted and filed separately with the Securities
and Exchange Commission pursuant to a request for confidential treatment. Such
portions are marked by a series of asterisks.


                        CONTRACT MANUFACTURING AGREEMENT

This is a CONTRACT MANUFACTURING AGREEMENT ("Supply Agreement"), between The
Procter & Gamble Manufacturing Company, an Ohio corporation and P&G
International Operations SA, a Swiss corporation (collectively with its
affiliates, "Supplier"), and Prestige Brands International, Inc., a Virginia
corporation, and Prestige Brands International (Canada) Corp., a Nova Scotia
corporation (collectively "Buyer"). This Supply Agreement will have an effective
date of February 1, 2001. Supplier and Buyer are sometimes collectively referred
to herein as "parties" and individually as "party."

WHEREAS, Supplier and Buyer have previously entered into an Asset Sale and
Purchase Agreement, dated as of March 30, 2000 ("Sale Agreement"), pursuant to
which Buyer purchased the Acquired Assets (as defined in the Sale Agreement),
and on the same day, Supplier and Buyer simultaneously entered into a
Transitional Services Agreement ("Services Agreement") to expire June 30, 2000
and a Transitional Supply Agreement ("Transitional Supply Agreement") to expire
January 31, 2001;

WHEREAS, pursuant to Section 6.19 of the Sale Agreement, Supplier and Buyer
agreed to negotiate in good faith a supply agreement governing the supply of
Product by Suppliers for Buyer for the period after January 31, 2001 and
incorporating the Post-Transition Supply Terms set forth on Schedule 6.19 of the
Sale Agreement;

WHEREAS, upon expiration of the Transitional Supply Agreement and in connection
with the Sale Agreement, Buyer wishes that Supplier, upon Buyer's request and
according to the terms and conditions set forth herein, continue Manufacturing
(as defined hereinafter) Products (as defined hereinafter) or, subject to
Buyer's prior written approval, which will not be unreasonably withheld,
arranging for the Contract Manufacturing (as defined hereinafter) of Products on
Buyer's behalf for the period(s) set forth herein;

NOW, THEREFORE, in consideration of the mutual representations, warranties,
covenants, agreements, and conditions contained herein, the parties hereto agree
as follows:

                                    ARTICLE I
                               CERTAIN DEFINITIONS

     1.01     GENERAL. Any capitalized term used but not defined herein will
have the meaning set forth in the Sale Agreement.

     1.02     "AFFILIATE" means, with respect to a Person, another Person that
directly, or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, such Person. "Control," whether
or not capitalized, means, with respect to a Person, the ownership by another
Person of greater than 50% of the income or voting interests of such Person or
such other Person of greater than 50% of the income or voting interests of such
Person or such other arrangement as constitutes the direct or indirect ability
to direct the management, affairs or actions of such Person.

<Page>

     1.03     "PACKAGING MATERIALS SUPPLIERS" means those contract manufacturers
who Supply packaging materials to Supplier.

     1.04     "BULK LOZENGE PRODUCT" means the oral anesthetic bulk lozenge
product produced as of the Signing Date for use in the United States and Canada
and produced for delivery non-blistered in bulk containers and set forth on
Schedule 1.03, together with any Alterations and/or Modifications.

     1.05     "BUSINESS" means the manufacturing, packaging, distributing,
marketing and selling of the Products under one or more Trademarks in the United
States or Canada.

     1.06     "CLOSING DATE" means March 30, 2000, the date when Buyer purchased
the Business from Supplier.

     1.07     "CONTRACT MANUFACTURING" means the sourcing and warehousing of raw
and packaging materials, compounding, component preparation, production,
manufacturing, income and outgoing quality control, fabrication, filing,
inspecting, labeling, packing, packaging and/or warehousing of any Products, or
any part thereof, as well as associated activities, in accordance with the
Specifications and the terms and conditions of this Supply Agreement, in each
case, by any non-Affiliate third party pursuant to Contract Manufacturing
Agreement(s) with the Supplier or any of Supplier's Affiliates. The terms
"CONTRACT MANUFACTURE," "CONTRACT MANUFACTURER" and "CONTRACT MANUFACTURED" will
have the appropriate derivative meanings.

     1.08     "CONTRACT MANUFACTURING AGREEMENT" means any purchase order,
contract, agreement or other obligation between Supplier or any of Supplier's
Affiliates and any non-Affiliate third party pursuant to which any non-Affiliate
third party Contract Manufacturers Products.

     1.09     "CONTRACT PLANT" means that portion of a Contract Manufacturer's
facilities used in the Contract Manufacture of Products.

     1.10     "CONTRACT WAREHOUSE" means that portion of a Contract
Manufacturer's facilities used to warehouse finished goods.

     1.11     "DELIVERY DATE" means the date on Buyer's Firm Written Purchase
Order that designates the date when Supplier will have Products available for
Buyer to pick-up.

     1.12     "EFFECTIVE DATE" means February 1, 2001.

     1.13     "LIQUID PRODUCT" means the oral anesthetic liquid finished open
stock product produced as of the Signing Date for sale in the United States and
Canada that is set forth on Schedule 1.12, together with any Alterations and/or
Modifications.

     1.14     "LOZENGE PRODUCT" means the oral anesthetic lozenge finished open
stock product produced as of the Signing Date for sale in the United States and
Canada that is set forth on Schedule 1.13, together with any Alterations and/or
Modifications.

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     1.15     "MANUFACTURING" means the sourcing and warehousing of raw and
packaging materials, compounding, component preparation, production,
manufacturing, incoming and outgoing quality control, fabrication, filling,
inspecting, labeling, packing, packaging and/or warehousing of any Products, or
any part thereof, as well as associated activities, in accordance with the
Specifications and the terms and conditions of this Supply Agreement, in each
case, by Supplier or any of Supplier's Affiliates. The terms "MANUFACTURE" and
"MANUFACTURED" will have the appropriate derivative meanings.

     1.16     "MATERIALS" means works in progress and raw and packaging
materials related to the Business.

     1.17     "PERSON" means (as the context requires) an individual, a
corporation, a partnership, an association, a trust, a limited liability
company, or other entity or organization, including a Governmental Entity.

     1.18     "PRODUCTS" means collectively, except where specifically qualified
in this Supply Agreement, the Liquid Product and the Lozenge Product SKU's of
the Business and the Bulk Lozenge Product of the Business produced as of the
Signing Date of this agreement for sale in the United States and Canada, and set
forth on Schedules 1.03, 1.12 and 1.13 respectively, whether Manufactured or
Contract Manufactured as of the effective date of this Supply Agreement,
together with any Alterations and/or Modifications. For purposes of
clarification, the term Products does not include the UltraChloraseptic product
produced and sold in the United Kingdom, liquid products topped with sample
lozenges ("Toppered Products"), special pack products or displays.

     1.19     "PRODUCT CATEGORY" means the particular type of Product. For
purposes of this Supply Agreement, a Product may be categorized as one of the
following: Liquid Product, Lozenge Product or Bulk Lozenge Product as defined
herein.

     1.20     "SIGNING DATE" means the date this Supply Agreement is signed.

     1.21     "SKUS" means Stock Keeping Units.

     1.22     "SPECIFICATIONS" means the procedures, requirements, formula(e)
and standards related to Products employed by or on behalf of Supplier as of the
Signing Date and provided to Buyer under the Sale Agreement, as amended pursuant
to this Supply Agreement.

     1.23     "SUPPLIER'S PLANT" means that portion of Supplier's and Supplier's
Affiliates' facilities located in Greensboro, North Carolina and Gross Gerau,
Germany that is used in the Manufacture of Products and/or such other facilities
of Supplier or Supplier's Affiliates as may be used in the Manufacture of
Products.

     1.24     "SUPPLY PERIOD" means that period commencing on February 1, 2001
and running until either party terminates pursuant to Article XV of this Supply
Agreement.

     1.25     OTHER DEFINITIONS. Other terms defined in this Agreement, and the
location where they are defined, are:

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<Table>
       <S>                                                  <C>
       "AFFECTED PARTY" .................................   Section 16.04
       "ALTERATIONS" ....................................   Section 6.01
       "BUYER" ..........................................   Preamble
       "COST AND FEASIBILITY PROCESS" ...................   Section 6.04
       "DEFAULTING PARTY" ...............................   Section 15.01
       "FIRM WRITTEN PURCHASE OFFER" ....................   Section 2.03
       "FIFO" ...........................................   Section 5.02
       "FORECAST" .......................................   Section 3.01
       "MODIFICATIONS" ..................................   Section 6.02
       "NON-AFFECTED PARTY" .............................   Section 16.04
       "NON-DEFAULTING PARTY" ...........................   Section 15.01
       "SALE AGREEMENT" .................................   Preamble
       "SERVICES AGREEMENT" .............................   Preamble
       "SUPPLIER" .......................................   Preamble
       "TRANSITIONAL SUPPLY AGREEMENT" ..................   Preamble
       "TERMINATION DATE" ...............................   Section 15.01
</Table>

                                   ARTICLE II
                                BASIC OBLIGATIONS

     2.01     SUPPLIER'S OBLIGATIONS. Subject to the limitations and conditions
of this Supply Agreement, during the applicable Supply Period, Supplier will
Manufacture, or arrange for the Contract Manufacture of, and sell to Buyer
Buyer's requirements (up to the maximum set forth in Schedule 2.02) of Products.
Except as set forth in Section 7.01 herein, Supplier will be responsible for
ensuring that all Product sold to Buyer hereunder complies with Specifications.

     2.02     BUYER'S OBLIGATIONS. Subject to the limitations and conditions of
this Supply Agreement, during the applicable Supply Period, Buyer will purchase
from Supplier Buyer's requirements (up to the maximums set forth in Schedule
2.02) of Products within the applicable Product Category, at the prices set
forth on Schedule 9.01 or at such other prices as may be determined in
accordance with this Supply Agreement. Buyer will also be responsible for paying
certain other expenses, as expressly set forth elsewhere in this Supply
Agreement.

     2.03     PURCHASE ORDER REQUIREMENTS. Subject in all respects to
Article III of this Supply Agreement, all Manufacturing or Contract
Manufacturing under this Supply Agreement will be covered by a written purchase
order in a form mutually acceptable to Buyer and Supplier (a "Firm Written
Purchase Order"). The terms of this Supply Agreement will govern the performance
of all firm purchase orders and, in the event of any inconsistency between this
Supply Agreement and any firm purchase order, this Supply Agreement will
prevail.

                                   ARTICLE III
                           FORECASTS/ORDERS/LOCATIONS

     3.01     BUYER FORECAST. Pursuant to the terms of the Transitional Supply
Agreement, Buyer will be submitting to Supplier a forecast of its requirements
of Products, by month, for the entire Transitional Supply Period. Buyer will be
providing an eighteen (18) month rolling forecast ("Forecast") that will be
updated monthly, and Buyer will continue this process of

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providing and updating the Forecast under this Supply Agreement for the Supply
Period. Such monthly updates will be provided to Supplier on the 15th of each
calendar month.

     3.02     SUBSEQUENT FIRM WRITTEN PURCHASE ORDERS. In addition to the
Forecast set forth above in Section 3.01, Buyer will deliver to Supplier Firm
Written Purchase Orders for Buyer's requirements. Such Firm Written Purchase
Orders will be in the form set forth in Schedule 3.02 and for the Liquid Product
must be received twelve (12) weeks prior to the date set forth in such Firm
Written Purchase Order for delivery of such Products; and for the Lozenge
Product and Bulk Lozenge Product must be received sixteen (16) weeks prior to
the date set forth in such Firm Written Purchase Order for delivery of such
Products. Pursuant to these conditions, and to the maximums set forth in
Schedule 2.02, Supplier will manufacture and Buyer will arrange to pick-up
Products to fulfill such Firm Written Purchase Orders.

     3.03     REPORTS BY SUPPLIER. If requested by Buyer, Supplier will use
commercially reasonably efforts to provide Buyer with quarterly reports on raw
materials, packing material and finished Products reflecting Manufacturing,
Contract Manufacturing, shipments, inventories, and non-binding projections
related thereto.

     3.04     CHANGE TO PARTIAL OR FULL CONTRACT MANUFACTURING OR RELOCATION OF
MANUFACTURING. Unless otherwise agreed to by the parties, if Supplier shall
relocated any Manufacturing or Contract Manufacturing to facility(ies) different
from the facility(ies) currently Manufacturing or Contract Manufacturing or if
Supplier shall decide to switch from Manufacturing Products to partial or full
Contract Manufacturing of Products, Supplier will provide Buyer with six (6)
months prior written notice of such change provided that no such relocation or
change shall affect Supplier's agreements or obligations hereunder.

                                   ARTICLE IV
                        MATERIALS AND EQUIPMENT; CAPACITY

     4.01     SOURCES OF MATERIALS. During the Supply Period, Supplier will
source or arrange for the sourcing of all raw and packaging materials required
for Manufacturing or Contract Manufacturing Products from vendors reasonably
selected by or on behalf of Supplier consistent with Supplier's ordinary past
business practices and in quantities reasonably calculated to meet Buyer's
Orders in a cost-effective manner. Supplier agrees to maintain adequate
inventories of raw materials and componentry reasonably calculated to meet the
reasonable requirements of Buyer in a timely manner. Supplier agrees to use
commercially reasonable efforts to obtain competitive pricing.

     4.02     NORMAL REPAIR AND REPLACEMENT OF EQUIPMENT. Supplier will be
responsible for all repairs and replacement of equipment or facilities used in
the Manufacture of Products at Supplier's Plant.

     4.03     CAPACITY. Supplier is not required to install additional
production capacity or additional production lines to perform its supply
obligations hereunder.

     4.04     MATERIAL SUPPLY. In the event that Supplier cannot, or does not,
pursuant to Sections 2.01, 15.01 or 15.02 of this Supply Agreement, continue to
produce Buyer's requirements, Supplier will use commercially reasonable efforts
to separately supply Materials

                                        5
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for Buyer's use at other contract manufacturers to produce Buyer's requirements.
Notwithstanding the foregoing, Buyer's use of the Materials at another
manufacturer is subject to Section 12.02 below.

                                    ARTICLE V
                          SHIPPING AND USE OF MATERIALS

     5.01     SHIPPING.

              (a)   LIQUID PRODUCT. Buyer will arrange for the shipment of
Liquid Product in full truckload quantities (on common carriers selected by
Buyer), where possible, and at Buyer's expense (including without limitation any
duties payable in respect of any shipment) and risk of loss from the Supplier's
Warehouse or Contract Plant or Contract Warehouse (i.e., F.O.B. Supplier's
Warehouse or F.O.B. Contract Plant or Contract Warehouse). Buyer will be
responsible for all actual reasonable costs and expenses of month-to-month
storage and warehousing of Liquid Products, whether stored or warehoused at
Supplier's Warehouse, any Contract Warehouse or Contract Plant or elsewhere.
Buyer must arrange to pick up its ordered requirements from Supplier's Warehouse
or Contract Plant or Contract Warehouse on the Deliver Date specified in the
Firm Written Purchase Order.

              (b)   LOZENGE PRODUCT AND BULK LOZENGE PRODUCT. Supplier will
arrange for the shipment of Lozenge Product and Bulk Lozenge Product in full
seatainer quantities (on common carriers selected by Supplier), where possible,
and at Buyer's expense (including without limitation any duties payable in
respect of any shipment) from Gross Gerau, Germany to the respective port of
entry ["Port(s) of Entry"] in North America. Buyer will arrange for the shipment
of Lozenge Product and Bulk Lozenge Product in full truckload quantities (on
common carriers selected by Buyer), where possible, and at Buyer's expense
(including without limitation any duties payable in respect of any shipment) and
risk of loss from the respective port of entry Port(s) of Entry where the
Lozenge Product and Bulk Lozenge Product are delivered from Gross Gerau,
Germany. Buyer will be the importer of record for the Lozenge Product and Bulk
Lozenge Product. Buyer will be responsible for all actual reasonable costs and
expenses of month-to-month storage and warehousing of Lozenge Product and Bulk
Lozenge Product, whether stored or warehoused at the Ports of Entry, Supplier's
Warehouse, any Contract Warehouse or Contract Plant or elsewhere. Buyer must
arrange to pick up its ordered requirements from the Ports of Entry, Supplier's
Warehouse or Contract Plant or Contract Warehouse on the Delivery Date specified
in the Firm Written Purchase Order.

     5.02     ORDER OF USE FOR RAW AND PACKAGING MATERIALS AND INVENTORY BY
SUPPLIER. Supplier will, and will cause any Contract Manufacturer to, use raw
and packaging materials on a first-in, first-out basis ("FIFO") consistent with
past ordinary business practices. Any Products Materials as of the Effective
Date will likewise be used first to satisfy Buyer's requirements.

     5.03     COMMON CARRIER CLAIMS. All claims by or to common carriers in
connection with Products will be the responsibility of Buyer, except to the
extent any such claim by a common carrier is the proximate result of the
negligence, gross negligence or intentional misconduct of, or breach of this
Supply Agreement by, Supplier.

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     5.04     PALLETS. Liquid Product will be shipped to Buyer on CHEP pallets.
Lozenge Product and Bulk Lozenge Product will be shipped to Buyer on UK pallets.
Buyer will, at its discretion, either pay Supplier for such pallets at actual
cost or establish a lease contract for such pallets directly with the applicable
third party.

                                   ARTICLE VI
                            CHANGES TO SPECIFICATIONS

     6.01     ALTERATIONS. During the Supply Period, Buyer may alter the
Specifications for artwork and label copy of Products ("Alterations") by
utilizing the Cost and Feasibility Process set forth below in Section 6.04 in
order to seek the necessary prior written consent of Supplier, which consent
will not be unreasonably withheld. Once an Alteration has been approved, Buyer
will provide a finished artwork directly to the Packaging Materials Suppliers
designed by Supplier. Once the artwork has been received by the Packaging
Materials Suppliers, the process to order the materials and have the materials
in the plant requires ten (10) weeks. Buyer will be responsible at the time of
consent for:

              (a)   providing materials required or prudent for implementation
of such Alterations, including, without limitation, artwork and cylinders;

              (b)   having secured from any Governmental Entity any approvals
that may be necessary in connection with any Alteration;

              (c)   any resulting increases in costs; and

              (d)   all liabilities, costs or expenses, including, without
limitation, those of third parties, arising out of or related to Alterations,
including, without limitation, those related to the failure or alleged failure
of the Alterations to comply with applicable laws and regulations, provided the
alterations are implemented by Supplier in accordance with the new
specifications; and

              (e)   all scrapping costs associated with any Alterations.

     6.02     BUYER'S MODIFICATIONS. All changes to Specifications, including,
but not limited to, new product SKU introductions (collectively
"Modifications"), require the prior written consent of Supplier, such consent
not to be unreasonably withheld. Buyer will utilize the Cost and Feasibility
Process set forth below in Section 6.04 in order to seek the necessary prior
written consent of Supplier. Buyer will be responsible for any costs and
expenses associated with such Modifications, including, but not limited to any
testing required for such Modifications and any costs and expenses thereof.

     6.03     SUPPLIER MODIFICATIONS. If Supplier initiates a change in
packaging and Buyer agrees to such change, Supplier will bear the cost of any
change parts and any cost increase or decrease in the production of the
Product(s) will be passed through to Buyer.

     6.04     COST AND FEASIBILITY PROCESS. Any Modifications or Alterations
requests from Buyer are subject to Supplier's cost and feasibility determination
as to whether such modification can be accomplished ("Cost and Feasibility
Process"). Supplier will provide Buyer

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with the cost and feasibility form set forth on Schedule 6.04 for submitting
requests for such Modifications or Alterations to Supplier's Cost and
Feasibility Process. Supplier will respond to Buyer's cost and feasibility
request within four (4) weeks of receipt of the cost and feasibility form.

                                   ARTICLE VII
                                QUALITY ASSURANCE

     7.01     QUALITY CONTROL TESTS. Supplier will perform or cause to be
performed quality control tests and assays on raw and packaging materials and on
Liquid Product, Lozenge Product and Bulk Lozenge Product in accordance with
Specifications. Buyer will perform or cause to be performed quality control
tests associated with any sampling uses of the Bulk Lozenge Product.

     7.02     STABILITY TESTS. Supplier will maintain a stability testing
program for the Products.

     7.03     BUYER INSPECTIONS. Supplier will permit Buyer's designated
representatives to inspect and visit the Chloraseptic-related portion of
Supplier's Plant from time to time for the purpose of determining compliance
with this Supply Agreement. Such inspections will occur during regular business
hours after at least twenty-four (24) hours written notice to Supplier. Buyer
will not disrupt Supplier's operations. Buyer's designated representatives will
be permitted to inspect and visit from time to time any Contract Plant for the
purpose of determining Supplier's compliance with this Supply Agreement, if, and
only to the extent, Supplier obtains the applicable Contract Manufacturer's
consent.

     7.04     BUYER TESTS. At Buyer's request, Supplier will cause to be sent,
at Buyer's expense, a reasonable number of Product samples to Buyer for
examination and testing, at Buyer's expense, to assure conformity with
Specifications.

                                  ARTICLE VIII
                              COMPLIANCE WITH LAWS

     8.01     LAWS RELATED TO MANUFACTURING. Supplier will maintain all
necessary permits, licenses and certifications necessary for the Manufacturing
of the Product. Supplier will comply with laws and regulations relating to
environmental matters, wages and hours, equal employment opportunity, tax
withholding on payrolls, working and sanitary conditions and workers'
compensation, in each case, as well as all other applicable laws, regulations,
ordinances and other rules of the federal, state or local authorities, with
respect to maintenance and operation of Supplier's Plant, except where not
material.

     8.02     LAWS RELATED TO PRODUCTS. Notwithstanding Section 8.01, Buyer will
be responsible for complying in all material respects with all other laws and
regulations relating to Products (without regard to whether such Products have
been the subject of any Alteration or Additional Modification), including,
without limitation, laws relating to the registration, identification,
formulation, transportation, labeling, sale, marketing or distribution of
Products. Buyer will be responsible for conducting product recalls and for other
duties and obligations imposed by law, rule or regulation arising from or
related to Product purchased by Buyer from Supplier during the Term hereof.
Buyer will also be responsible for documentation,

                                        8
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investigation and action regarding drug adverse events, reports and records, and
the like, arising from or related to Buyer's sales of the Products during the
Term hereof.

                                   ARTICLE IX
                                      PRICE

     9.01     PRICING AND COST ASSUMPTIONS. Schedule 9.01 sets forth, by SKU,
the price Buyer will pay Supplier for Products. Schedule 9.01 also sets forth
major assumptions concerning the costs of Products (collectively "Manufacturing
Costs"). Supplier will adjust any raw materials and packaging costs on a
quarterly basis and will adjust any other manufacturing costs on an annual
basis, on or before July 1st of each calendar year. In the event of any increase
or decrease in the Manufacturing Costs (including, without limitation, cost
changes associated with any decision by Supplier to switch from Manufacturing
Products to partial or full Contract Manufacturing of Products), Supplier will
pass such increase or decrease through to Buyer, such that the price Buyer will
pay Supplier for Products will reflect such increase or decrease. In accordance
with Supplier's adjustment of these costs, Supplier will notify Buyer in writing
of any such increase or decrease in raw materials and packaging costs on a
quarterly basis, and will notify Buyer in writing of any such increase or
decrease in other manufacturing costs of an annual basis, on or before July 1st
of each calendar year. The notice will include:

              (a)   the reason for the increase or decrease;

              (b)   the date when the increase or decrease will take effect; and

              (c)   the amount of the increase or decrease.

     Supplier will use its reasonable efforts to minimize cost increases
     consistent with its ordinary past business practices; provided, however,
     that this requirement will not limit Supplier's ability to switch from
     Manufacturing Products to partial or full Contract Manufacturing of
     Products.

                                    ARTICLE X
                                     PAYMENT

     10.01    INVOICING AND PAYMENT. Supplier will send Buyer an invoice for
each shipment of Products. All invoices will be based upon the bill of lading
describing the Products and quantity of Products shipped to Buyer. Buyer will be
responsible for paying each invoice within thirty (30) calendar days after the
date of such invoice and payment will not be delayed pending delivery of
Products by any common carrier or resolution of any disputes between Buyer and
any common carrier regarding the shipment. Buyer will pay Supplier a late
payment charge of twelve percent (12%) per annum on any payment not received
within thirty (30) calendar days of the date of the relevant invoice; provided,
however, that Buyer will not owe any late payment charge with respect to any
disputed payment amount pending resolution of such dispute. Payment will be made
in US dollars and will be sent to the location designated in advance by
Supplier.

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                                   ARTICLE XI
              SUPPLIER'S REPRESENTATIONS, WARRANTIES AND DISCLAIMER

     11.01    TITLE TO PRODUCTS. Supplier represents and warrants it will pass
to Buyer good and marketable title to Products, free and clear of all material
liens, claims, security interests and encumbrances of any kind.

     11.02    COMPLIANCE WITH SPECIFICATIONS AND GMP'S. Supplier represents and
warrants the Products will be in compliance with Specifications within normal
variation at the time such Products are delivered to the common carrier for
shipment to Buyer, and will have been produced in accordance with then-current
Good Manufacturing Practices.

     11.03    LIMITATION OF WARRANTIES. SUPPLIER MAKES NO WARRANTY, OTHER THAN
THE WARRANTIES SET FORTH HEREIN OR IN THE SALE AGREEMENT. THE WARRANTIES SET
FORTH HEREIN AND THEREIN ARE IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR
IMPLIED, INCLUDING, WITHOUT LIMITATION THE WARRANTIES OF MERCHANTABILITY AND
FITNESS FOR A PARTICULAR PURPOSE.

                                   ARTICLE XII
                              INTELLECTUAL PROPERTY

     12.01    OWNERSHIP OF INTELLECTUAL PROPERTY. All intellectual property
constituting Acquired Assets or constituting Excluded Assets shall be owned by
and will at all times be and remain the exclusive property of Buyer or Supplier
(or Supplier's Affiliates), respectively, and this Supply Agreement will not
constitute a license, except to the extent required to fulfill each party's
obligations hereunder.

     12.02    LICENSE DURING SUPPLIER SUPPLY TO BUYER. Except as otherwise
agreed in writing by the parties, Supplier grants Buyer a nonexclusive license
under any applicable packaging patents owned by Supplier to use and sell
Products supplied by Supplier to Buyer under this Supply Agreement. This license
will not include any right to repackage any products using said packages
supplied under this Supply Agreement. This license will not apply to any
Products supplied under this Supply Agreement the contents of which have been
modified by Buyer. For avoidance of doubt, it is understood that Buyer will have
no rights, except as set forth in Section 12.03 herein, to make or have made
packages under Supplier's packaging patents.

     12.03    LICENSE IF SUPPLIER NO LONGER SUPPLIES BUYER. In the event this
Supply Agreement is terminated pursuant to Paragraph 15.02 and Supplier no
longer supplies Product to Buyer, Supplier grants Buyer a perpetual license to
certain patents dealing with certain child resistant packaging, under the terms
set forth in the License Agreement, in the form attached as Exhibit 12.03, to be
executed concurrently with this Supply Agreement.

                                       10
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                                  ARTICLE XIII
                     SUPPLIER'S AND CONTRACT MANUFACTURER'S
                             USE OF BUYER'S PROPERTY

     13.01    BOOKS AND RECORDS. During the Supply Period with respect to any
Product Category, Supplier will be permitted, at no cost to Supplier, to retain
and use any Books and Records transferred to the Buyer pursuant to the Sale
Agreement to the extent reasonably necessary for Supplier to fulfill its
obligations under this Supply Agreement with respect to such Product Category.

                                   ARTICLE XIV
                                      TERM

     14.01    TERM. This Supply Agreement will be in effect until either party
terminates this Supply Agreement pursuant to Section 15.01 or Section 15.02.

                                   ARTICLE XV
                                   TERMINATION

     15.01    NOTICE OF DEFAULT. In addition to any other rights or remedies
Buyer or Supplier may have under the Sale Agreement or at law or in equity, a
party not in default under this Supply Agreement (the "Non-Defaulting Party")
may terminate this Supply Agreement or any Supply Period by giving written
notice to the other party (the "Defaulting Party") of the Non-Defaulting Party's
intention to terminate this Supply Agreement or any Supply Period upon the
occurrence of either or both of the following events:

              (a)   a breach by the Defaulting Party of any of its obligations
hereunder; or

              (b)   the filing by or against the Defaulting Party of a petition
in bankruptcy, or any appointment of a receiver for the Defaulting Party or any
substantial part of its assets, or any assignment for the benefit of the
Defaulting Party's creditors.

     Such notice will identify a date for termination of this Supply Agreement
     or any Supply Period, which date will not be sooner than five (5) Business
     Days after receipt of such notice by the Defaulting Party ("Termination
     Date"). If the event on which the notice is based is not cured prior to the
     Termination Date, then this Supply Agreement or any Supply Period will
     terminate on the Termination Date pursuant to such notice.

     15.02    TERMINATION WITHOUT CAUSE. Buyer may terminate early this Supply
Agreement or any Supply Period at any time without cause and without penalty by
giving twelve (12) months prior written notice to Supplier. Notwithstanding the
above, if Buyer terminates in this manner, Buyer will be liable for existing
inventory and Materials.

     15.03    EFFECT ON OTHER AGREEMENTS/SURVIVAL OF CERTAIN PROVISIONS.
Termination of this Supply Agreement or any Supply Period will have no effect on
any other agreements between Buyer and Supplier, unless an effect is mutually
and specifically agreed in writing between the parties, and such termination
will not relieve either party of any liability to the other based on acts or
omissions prior to such termination. The following Articles and Sections will

                                       11
<Page>

survive any such termination: Article XI, Article XII, and Sections 15.03,
15.04, 16.03, 16.05, 16.06, 16.07, 16.08, 16.09 and 16.10.

     15.04    UNSHIPPED PRODUCTS AND MATERIALS. Upon any termination of this
Supply Agreement or any Supply Period with respect to any Product Category,
Supplier will arrange for the prompt shipment to Buyer at the address(es)
designated by Buyer pursuant to Section 5.01, and Buyer will purchase:

              (a)   any unshipped Products within such Product Categor(ies) as
of the Termination Date at the price(s) set forth in Schedule 9.01 as modified
pursuant to Section 9.01; and

              (b)   any unused but usable works in progress or Materials
exclusively related to Products within such Product Categor(ies), at actual
cost.

     Buyer will be responsible for paying for the shipment of, and will bear the
     risk of loss for, usable Materials and Products to the designated
     location(s).

                                   ARTICLE XVI
                                  MISCELLANEOUS

     16.01    ENTIRE AGREEMENT. This Supply Agreement constitutes the entire
agreement between Supplier and Buyer with respect to, among other things, the
Manufacture and Contract Manufacture of Products. In the event of any
inconsistency between this Supply Agreement and any subsequently-issued
document, including without limitation, an Order, this Supply Agreement will
prevail.

     16.02    TAXES. Buyer and Supplier agree to pay all Taxes assessed on all
materials, excluding Products, to which each of them has title. Buyer will be
responsible for paying all taxes assessed on Products.

     16.03    SUPPLIER'S EMPLOYEES AND INDEPENDENT CONTRACTOR STATUS. During the
term hereof, and for a period of two (2) years after the termination of this
Supply Agreement, Buyer will not, and will cause its Affiliates not to, without
Supplier's prior written agreement, directly or indirectly solicit for
employment or hire any employees of Supplier or Supplier's Affiliates who have
worked in connection with the performance of this Supply Agreement. Supplier is
acting pursuant to this Supply Agreement as an independent contractor.

     16.04    FORCE MAJEURE. Neither party (the "Affected Party") will be liable
to the other (the "Non-Affected Party") for failure to perform any part of this
Supply Agreement if such failure results from an act of God, war, revolt,
revolution, sabotage, actions of a Governmental Entity, laws, regulations,
embargo, fire, strike, other labor trouble, insolvency or other financial
difficulty of any Contract Manufacturer or any cause beyond the Affected Party's
control. Upon the occurrence of any such event which results in, or will result
in, delay or failure to perform according to the terms of this Supply Agreement,
the Affected Party will promptly give notice to the Non-Affected Party of such
occurrence and the effect and/or anticipated effect of such occurrence. The
Affected Party will use its reasonable efforts to minimize disruptions in its
performance and to resume performance of its obligations under this Supply
Agreement as soon

                                       12
<Page>

as practicable, provided, however, the resolution of any strike or labor trouble
will be within the sole discretion of the Affected Party.

     16.05    NO RIGHT OF SET-OFF. Notwithstanding any other provisions of this
Supply Agreement or any other agreement between the parties, all payments to be
made by either party under this Supply Agreement will be made free of any
set-off and will be promptly remitted to the party entitled to receive payment
hereunder.

     16.06    LIMITATION. Any Action pursuant to this Supply Agreement,
including, without limitation, any Action with respect to any indemnify
obligation, must be commenced within five (5) years after the termination of
this Supply Agreement.

     16.07    INDEMNIFICATION BY SUPPLIER.

              (a)   Subject to the terms and conditions of this Supply
Agreement, Supplier will jointly and severally defend, indemnify and hold
harmless Buyer and its affiliates and each of their respective officers,
directors, employees, shareholders, agents and representatives, and their
successors and assigns (collectively the "Buyer Indemnities") from and against
all claims, losses, liabilities, damages, costs and expenses (including without
limitation reasonable fees and expenses of attorneys incurred in investigation
or defense of any Action) (collectively "Claims") arising out of or related to:
(i) Excluded Liabilities as set forth in the Sale Agreement, (ii) any breach of
any covenant or agreement of Supplier contained in this Supply Agreement, (iii)
any negligence, gross negligence, or willful or intentional misconduct by
Supplier or any of its personnel; and (iv) any breach of any representation or
warranty of Supplier contained in this Supply Agreement;

              (b)   Promptly after receipt by Buyer of notice of any third-party
Action in respect of which indemnity may be sought against Supplier hereunder
(for purposes of this Section 16.07, a "Buyer's Assertion"), Buyer will notify
Supplier in writing of the Buyer's Assertion, but the failure to so notify
Supplier will not relieve Supplier of any liability it may have to Buyer, except
to the extent Supplier has suffered actual prejudice thereby. Supplier will be
entitled to participate in and, to the extent Supplier elects by written notice
to Buyer within thirty (30) days after receipt by Supplier of notice of such
Buyer's Assertion, to assume the defense of such Buyer's Assertion, at
Supplier's own expense, with counsel chosen by them which will be reasonably
satisfactory to Buyer. With respect to any such Buyer's Assertion, Buyer will
promptly provide Supplier with: (i) notice and copies of any documents served
upon Buyer; and (ii) all reasonable cooperation which Supplier deems necessary
to defend such Buyer's Assertion, including, without limitation, providing
Supplier and its outside attorneys access to any potentially relevant documents,
information, or individuals within the control of Buyer, other than any
privileged documents. If business information of Buyer other than that
pertaining to the Business is contained in such documents or information,
Supplier and Buyer will enter into appropriate secrecy commitments to protect
such documents or information. Notwithstanding that Supplier may have elected by
written notice to assume the defense of any Buyer's Assertion, Buyer will have
the right to participate in the investigation and defense thereof, with separate
counsel chosen by Buyer, but in such event the fees and expenses of Buyer (above
those which would otherwise have been incurred) and such separate counsel will
be paid by Buyer.

                                       13
<Page>

              (c)   Notwithstanding anything in this Section 16.07 to the
contrary: (i) Supplier will have no obligation with respect to any Buyer's
Assertion if, in connection therewith, Buyer, without the written consent of
Supplier, which consent will not be unreasonably withheld, settles or
compromises any Action or consents to the entry of any judgment; and (ii)
Supplier will not without the written consent of Buyer with respect to any Buyer
Assertion: (A) settle or compromise any Action or consent to the entry of any
judgment which does not include as an unconditional term thereof the delivery by
the claimant or plaintiff to Buyer of a duly executed written release of Buyer
from all liability in respect of such Action, which release will be reasonably
satisfactory in form and substance to counsel for Buyer, or (B) settle or
compromise any Action in any manner that, in the reasonable judgment of Buyer or
its counsel, will adversely affect Buyer other than as a result of money damages
or other money payments.

              (d)   Upon the payment of any settlement or judgment pursuant to
this Section 16.07 with respect to any Buyer's Assertion, Supplier will be
subrogated to all rights and remedies of Buyer against any third party in
respect of such Buyer's Assertion to the extent of the amount so paid by
Supplier.

              (e)   The indemnity provided for by this Section 16.07 will be
Buyer's exclusive source of recovery against Supplier with respect to matters
covered hereby.

     16.08    INDEMNIFICATION BY BUYER.

              (a)   Subject to the terms and conditions of this Agreement, Buyer
will defend, indemnify and hold harmless Supplier and its affiliates and each of
their respective officers, directors, employees, shareholders, agents and
representatives, and their successors and assigns (collectively, the "Supplier
Indemnities") from and against all Claims arising out of or related to: (i)
Assumed Liabilities as defined in the Sale Agreement; (ii) any breach of any
covenant or agreement of Buyer contained in this Supply Agreement; and (iii) any
breach of any representation or warranty of Buyer contained in this Supply
Agreement.

              (b)   Promptly after receipt by Supplier of notice of any Action
in respect of which indemnity may be sought against Buyer hereunder (for
purposes of this Section 16.08, a "Supplier's Assertion"), Supplier will notify
Buyer in writing of the Supplier's Assertion, but the failure to so notify Buyer
will not relieve Buyer of any liability it may have to Supplier, except to the
extent Buyer has suffered actual prejudice thereby. Buyer will be entitled to
participate in and, to the extent Buyer elects by written notice to Supplier
within thirty (30) days after receipt by Buyer of notice of such Supplier's
Assertion, to assume the defense of such Supplier's Assertion, at its own
expense, with counsel chosen by it which will be reasonably satisfactory to
Supplier. With respect to any such Supplier's Assertion, Supplier will promptly
provide Buyer with: (i) notice and copies of any documents upon Supplier; and
(ii) all reasonable cooperation which Buyer deems necessary to defend such
Supplier's Assertion, including without limitation providing Buyer and its
outside attorneys access to any potentially-relevant documents, information, or
individuals within the control of Supplier, other than any privileged documents.
If business information of Supplier other than that pertaining to the Business
is contained in such documents or information, Supplier and Buyer will enter
into appropriate secrecy commitments to protect such documents or information.
Notwithstanding that Buyer may have elected by

                                       14
<Page>

written notice to assume the defense of any Supplier's Assertion, Supplier will
have the right to participate in the investigation and defense thereof, with
separate counsel chosen by Supplier, but in such event the fees and expenses of
Supplier (above those which would otherwise have been incurred) and such
separate counsel will be paid by Supplier.

              (c)   Notwithstanding anything in this Section 16.08 to the
contrary: (i) Buyer will have no obligation with respect to any Supplier's
Assertion if, in connection therewith, Supplier, without the written consent of
Buyer, settles or compromises any Action or consents to the entry of any
judgment; and (ii) Buyer will not, without the written consent of Supplier,
which consent will not be unreasonably withheld, with respect to any Supplier's
Assertion: (A) settle or compromise any Action or consent to the entry of any
judgment which does not include as an unconditional term thereof the delivery by
the claimant or plaintiff to Supplier of a duly executed written release of
Supplier from all liability in respect of such Action, which release will be
reasonably satisfactory in form and substance to counsel for Supplier; or (B)
settle or compromise any Action in any manner that, in the reasonable judgment
of Supplier or their counsel, will materially adversely affect Supplier other
than as a result of money damages or other money payments.

              (d)   Upon the payment of any settlement or judgment pursuant to
this Section 16.08 with respect to any Supplier's Assertion, Buyer will be
subrogated to all rights and remedies of Supplier against any third party in
respect of such Supplier's Assertion to the extent of the amount so paid by
Buyer.

              (e)   The indemnity provided for by this Section 16.08 will be
Supplier's exclusive source of recovery against Buyer with respect to matters
covered hereby.

     16.09    DISPUTE RESOLUTION

              (a)   Any Action asserted by Supplier against buyer or by Buyer
against Supplier (a "Claim") arising out of or related to this Supply Agreement,
including without limitation any Claim for indemnification pursuant to Sections
16.07 and 16.08 above, hereof or any issue as to whether or not a Claim is
arbitrable, will be resolved pursuant to the procedures described in this
Section 16.09.

              (b)   Should any Claim arise, Supplier and Buyer will first
attempt to resolve such Claim by entering into good faith negotiations by or
among their appropriate employees or officers. Such negotiations will commence
as soon as practicable after either Supplier or Buyer has received notice from
the other party of such claim, but no later than ten (10) days after such
receipt, and will terminate thirty (30) calendar days after such commencement.
During negotiations, Supplier and buyer will not have the right to any
discovery, unless agreed by each of Supplier and Buyer.

              (c)   Any Claim which has not been resolved pursuant to Section
16.09(b) of this Agreement will be referred to good faith negotiations by or
among one or more officers of Supplier and Buyer. Such negotiations will
commence as soon as practicable after termination of the negotiations described
in Section 16.09(b), but not later than ten (10) business day thereafter, and
will terminate thirty (30) calendar days after such commencement. During the

                                       15
<Page>

negotiations, Supplier and Buyer will not have the right to any discovery,
unless agreed by Supplier and Buyer.

              (d)   Any Claim which has not been resolved pursuant to Section
16.09(c) of this Agreement will be determined by arbitration. The arbitration
will be conducted by one arbitrator, who will be appointed pursuant to the
Commercial Arbitration Rules of the American Arbitration Association (AAA). The
arbitration will be held in Cincinnati, Ohio and will be conducted in accordance
with the Commercial Arbitration rules of the AAA, except that the rules set
forth in this Section 16.09(d) will govern such arbitration to the extent they
conflict with the rules of the AAA. Supplier and Buyer will use their best
efforts to cause the arbitration to be conducted in an expeditious manner.
Supplier and Buyer will use their best efforts to cause the arbitration to be
completed within sixty (60) days after selection of the arbitrator. In the
arbitration, Delaware law will govern, except to the extent that those laws
conflict with the Commercial Arbitration Rules of the AAA and the provisions of
this Section 16.09(d). There will be no discovery, except as the arbitrator will
permit following a determination by the arbitrator that the person seeking such
discovery has a substantial, demonstrable need. All other procedural matters
will be within the discretion of the arbitrator. In the event a Person fails to
comply with the procedures in any arbitration in a manner deemed material by the
arbitrator, the arbitrator will fix a reasonable period of time for compliance
and, if the Person does not comply within said period, a remedy deemed just by
the arbitrator, including an aware of default, may be imposed. The determination
of the arbitrator will be final and binding on the Supplier and Buyer. Judgment
upon the award rendered by the arbitrator may be entered in any court having
jurisdiction thereof.

     16.10    DAMAGE LIMITATIONS. Notwithstanding anything to the contrary in
this Agreement, none of Supplier's Indemnified Parties nor Buyer's Indemnified
Parties will be permitted to recover any consequential, indirect, special or
punitive damages arising out of or related to this Agreement, regardless of the
form of the Claim or Action, including without limitation Claims or Actions for
indemnification, tort, breach of contract, warranty, representation or covenant.

     16.11    SUCCESSORS AND ASSIGNS. This Supply Agreement will be binding upon
and will inure to the benefit of the signatories hereto and their respective
successors and permitted assigns. Neitherof Supplier nor Buyer may assign this
Supply Agreement, or any of their rights or liabilities thereunder, without the
prior written consent of the other parties thereto, provided that Supplier and
Buyer may so assign, in whole or in part, to one or more of their Affiliates.
Any such assignment will not relieve the party making the assignment from any
liability under such agreements.

     16.12    NOTICES. All notices required or permitted to be given under this
Supply Agreement will be in writing and will be deemed to be properly given when
actually received by the Person entitled to receive the notice at the address
stated below, or at such other address as Supplier or Buyer may provide by
notice to the other:

     SUPPLIER:
           The Procter & Gamble Manufacturing Company
           The Health Care Research Center

                                       16
<Page>

           8700 Mason-Montgomery road
           P.O. Box 8006
           Mason, Ohio 45040-9462
           Attention: Pam Potter, Manufacturing Brand Assistant
           Telephone: 513-622-0726
           Fax: 513-622-1220

           With a copy to:

           The Procter & Gamble Manufacturing Company
           One Procter & Gamble Plaza
           Cincinnati, Ohio 45202
           Attention: Associate General Counsel - Healthcare
           Telephone: (513) 983-6084
           Fax: (513) 983-4274

     BUYER:
           Prestige Brands International, Inc.
           26811 South Bay Drive
           Suite 300
           Bonita Springs, FL 34134
           Attention: Ted Host
           Telephone: (941) 948-8545
           Fax: (941) 948-8551

           With a copy to:

           Hunton & Williams
           Riverfront Plaza, East Tower
           951 East Byrd Street
           Richmond, VA 23219
           Attention: Daniel M. LeBay, Esq.
           Telephone: (804) 788-8200
           Fax: (804) 788-8218

IN WITNESS WHEREOF, the parties have signed this Supply Agreement on the date
set forth below.

SUPPLIER:                                BUYER:

THE PROCTER & GAMBLE MANUFACTURING       PRESTIGE BRANDS INTERNATIONAL, INC.
COMPANY

 By:                                      By:
------------------------------------    ----------------------------------------
 Name printed:                           Name printed:
------------------------------------    ----------------------------------------
 Title:                                  Title:
------------------------------------    ----------------------------------------
 Date:                                   Date:
------------------------------------    ----------------------------------------

                                       17
<Page>

P&G INTERNATIONAL OPERATIONS SA          PRESTIGE BRANDS INTERNATIONAL (CANADA),
                                         CORP.

 By:                                     By:
------------------------------------    ----------------------------------------
 Name printed:                           Name printed:
------------------------------------    ----------------------------------------
 Title:                                  Title:
------------------------------------    ----------------------------------------
 Date:                                   Date:
------------------------------------    ----------------------------------------

                                       18
<Page>

Portions of this Exhibit were omitted and filed separately with the Securities
and Exchange Commission pursuant to a request for confidential treatment. Such
portions are marked by a series of asterisks.

                                  SCHEDULE 1.04
                              BULK LOZENGE PRODUCT

BULK LOZENGES IN DRUMS
cherry
menthol

<Page>

                                  SCHEDULE 1.13
                                 LIQUID PRODUCT

OPEN STOCK LIQUID
FINISHED PRODUCT:

<Table>
<Caption>
                                                                    # per
                                                                   physical
     Brand Codes       Description                                  cases
     -----------       -----------                                 --------
       <S>             <C>                                            <C>
       69350           U.S. Cherry Liquid 6oz.                        12
       07195           U.S. Menthol Liquid 6oz.                       12
       04712           U.S. Cool Mint Liquid 6oz.                     12
       64535           U.S. Cherry Liquid 1oz.                        24
       67936           Canada Cherry Liquid 175mL (6oz.)              12
       67937           Canada Menthol Liquid 175mL (6oz.)             12
</Table>

<Page>

                                  SCHEDULE 1.14
                                 LOZENGE PRODUCT

OPEN STOCK LOZENGE
FINISHED PRODUCT:

<Table>
<Caption>
                                                                    # per
                                                                   physical
     Brand Codes       Description                                  cases
     -----------       -----------                                 --------
  <S>                  <C>                                            <C>
  11921                U.S. Cherry Lozenges 18ct                      36
  15374                U.S. Menthol Lozenges 18 ct                    36
  74497                Canada Cherry Lozenges 18 Ct                   36
  74567                Canada Menthol Lozenges 18 ct                  36
</Table>

<Page>

                                  SCHEDULE 2.02
                                    MAXIMUMS

Requirements requested by Buyer in the Firm Written Purchase Order will not
     exceed the forecast by the following amounts:

     Months 1 and 2: Fixed
     Months 3 and 4: 10%
     Months 5 and 6: 25%

Supplier will be open to consider deviations beyond this on a case-by-case basis
and will use commercially reasonable efforts to accommodate such deviations.

If Buyer's annual requirements are forecasted to increase more than 10% versus
previous year, Buyer and Supplier agree to develop a mutually agreeable plan to
meet the demand.

<Page>

                                  SCHEDULE 3.02
                       FORM OF FIRM WRITTEN PURCHASE ORDER

                          PRESTIGE BRANDS INTERNATIONAL
                                 PURCHASE ORDER

TO:   PROCTER & GAMBLE                                  SHIP TO:
      tbd


DATE          PICK UP DATE          SHIP VIA          PURCHASE ORDER NO.

                                                            SHIPMENTS BY WEEK*

<Table>
<Caption>
 QUANTITY     BRAND                    WEEK     WEEK     WEEK    WEEK
(PHYS CS.)    CODE      DESCRIPTION      1        2        3       4
---------------------------------------------------------------------
<S>           <C>       <C>            <C>      <C>      <C>     <C>



</Table>

*SHIPMENTS SHOULD BE IN FULL TRUCKLOADS
48 ft. and 53 ft. trucks will hold 48 pallets
Liquids:    130 cases/pallet
Lozenges:   80 cases/pallet


-------------------------------------------------
AUTHORIZATION SIGNATURE

<Page>

                                  SCHEDULE 6.04
                            COST AND FEASIBILITY FORM

                           COST & FEASIBILITY REQUEST


DATE:                                                   C&F NO.:
SKU:
COUNTRY:

ASSUMPTIONS:



VOLUME:


TIMING:


REQUIREMENTS:

--------------------------------------------
SIGNATURE

<Page>

                           CHLORASEPTIC SCHEDULE 9.01
<Table>
<Caption>
PRODUCT                             US        CANADA
                                   BRAND      BRAND
                                   CODE        CODE
                                   -----      ------
<S>                                <C>         <C>
6oz Cherry liquid                  69350       67936
6oz Menthol liquid                 07195       67937
6oz Cool Mint liquid               04712         n/a
1oz Cherry liquid                  64535         n/a

18ct Cherry lozenge                11921       74497
18ct Menthol lozenge               15374       74567
Bulk lozenges (40kg)                 n/a         n/a
***
</Table>

<Page>

                                  EXHIBIT 12.03

                                LICENSE AGREEMENT

This LICENSE AGREEMENT by and between The Procter & Gamble Company, an Ohio
corporation (collectively with its affiliates, "P&G"), and Prestige Brands
International, Inc., a Virginia corporation, (collectively with its Affiliates
"PRESTIGE"). This LICENSE AGREEMENT will have an effective date of February 1,
2001 ("EFFECTIVE DATE"). Supplier and Buyer are sometimes collectively referred
to herein as "parties" and individually as "party."

                           BACKGROUND OF THE AGREEMENT

PRESTIGE and P&G have entered into an Asset Sale and Purchase Agreement, dated
March 30, 2000 ("SALE AGREEMENT"), pursuant to which PRESTIGE purchased certain
assets; and on the same day, PRESTIGE and P&G simultaneously entered into a
Transitional Services Agreement to expire June 30, 2000 and a Transitional
Supply Agreement to expire January 31, 2001.

Under the terms of the SALE AGREEMENT, in addition to having agreed to negotiate
in good faith a long term supply agreement governing the supply of certain
product by P&G for a period after January 31, 2001, the PARTIES also agreed to
negotiate in good faith a license agreement governing the licensing by P&G to
PRESTIGE of certain child resistant packaging technology, said license to become
effective in the event P&G no longer supplies the subject product to PRESTIGE.

The parties have negotiated and on this day are simultaneously entering into the
long term supply agreement ("SUPPLY AGREEMENT") to which this LICENSE AGREEMENT
is an exhibit.

In consideration of the mutual representations, warranties, covenants,
agreements and conditions contained herein, the PARTIES agree as follows:

1.   DEFINITIONS.

          1.1.    GENERAL. The capitalized terms defined herein shall have the
          meanings indicated for purposes of this LICENSE AGREEMENT;
          non-capitalized terms have no limit as to subject matter or scope.

          1.2.    "AFFILIATE" means, with respect to a Person, another Person
          that directly, or indirectly through one or more intermediaries,
          controls, or is controlled by, or is under common control with, such
          Person. "Control," whether or not capitalized, means, with respect to
          a Person, the ownership by another Person of greater than 50% of the
          income or voting interests of such Person or such other Person of
          greater than 50% of the income or voting interests of such Person or
          such other arrangement as constitutes the direct or indirect ability
          to direct the management, affairs or actions of such Person.

          1.3.    "LICENSE AGREEMENT" means this agreement.

<Page>

          1.4.    "LICENSED FIELD" means packaging for the Liquid Product.

          1.5.    "LICENSED PATENTS" means those patents, patent applications
          and patents issuing therefrom specifically set forth in Appendix A.

          1.6.    "LICENSED PACKAGING" means packaging having a bottle, closure,
          and seal as generally set forth in Appendix B; and employing a child
          resistant means as specifically set forth in Appendix B; and covered
          by and/or produced using a process or method covered by, one or more
          claims of LICENSED PATENTS.

          1.7.    "LIQUID PRODUCT" means the oral anesthetic liquid finished
          open stock product produced as of the Signing Date of the SUPPLY
          AGREEMENT for sale in the United States and Canada that is set forth
          on Schedule 1.12 of the SUPPLY AGREEMENT, together with any
          Alterations and/or Modifications.

          1.8.    "OTHERWISE DISPOSED OF" means the transfer of a UNIT by
          PRESTIGE to a THIRD PARTY (except for purposes of scrapping),
          irrespective of the form of consideration received by PRESTIGE.

          1.9.    "PARTY" means either PRESTIGE or P&G, and "PARTIES" means the
          two collectively.

          1.10.   "PERSON" means (as the context requires) an individual, a
          Corporation, a partnership, an association, a trust, a limited
          liability company, or other entity or organization, including a
          governmental entity.

          1.11.   "PERSONNEL" means, as applied to PRESTIGE or P&G, officers,
          employees, consultants, agents, contractors or others hired by or
          retained by the respective PARTY.

          1.12.   "TERRITORY" means the United States and Canada.

          1.13.   "THIRD PARTY" means any individual, corporation, association
          or other entity, which is not a PARTY.

          1.14.   "UNIT" means a single LICENSED PACKAGING.

          1.15. Other Terms. Other terms defined in this LICENSE AGREEMENT, and
          the location where they are defined, are:

          "AAA"                      Paragraph 11

          "AUDITOR"                  Paragraph 5.2

          "DISPUTE"                  Paragraph 11

          "EFFECTIVE DATE"           Page 1, first paragraph

          "INFRINGEMENT"             Paragraph 7.1

                                       27
<Page>

          "LIABILITY"                Paragraph 9.1

          "LICENSE"                  Paragraph 2.1

          "SALE AGREEMENT"           Page 1, second paragraph

          "SUITS"                    Paragraph 9.1

2.   GRANT

          2.1.    LICENSE GRANT. Effective pursuant to Paragraph 2.2, P&G
          conditionally grants PRESTIGE a non-exclusive license to make, have
          made, use, and sell LICENSED PACKAGING in the TERRITORY under LICENSED
          PATENTS solely in the LICENSED FIELD; said license shall not include
          the right to sublicense ("LICENSE").

          2.2.    CONDITION AND EFFECTIVE DATE OF LICENSE GRANT. The LICENSE
          shall automatically be granted upon condition of, and become effective
          as of the date of, termination of the SUPPLY AGREEMENT under Paragraph
          15.02 of the SUPPLY AGREEMENT and whereupon such termination P&G no
          longer supplies LICENSED PACKAGING to PRESTIGE.

3.   ROYALTIES

          3.1.    RUNNING ROYALTY. In consideration for the LICENSE granted
          herein, PRESTIGE shall pay P&G a running royalty of ***.

4.   PAYMENTS

          4.1.    STATEMENTS AND DUE DATE. Not later than the fifteenth (15th)
          day of each February and August, PRESTIGE shall both: furnish to P&G a
          written statement in such detail as P&G may reasonably require (but in
          any case providing the number of UNITS sold or OTHERWISE DISPOSED OF
          during the period) of all amounts due under this LICENSE AGREEMENT for
          the semiannual periods ending the last days of the preceding December
          and June, respectively; and pay to P&G all amounts due to P&G. If no
          amount is accrued during any semiannual period, a written statement to
          that effect shall be furnished.

          4.2.    ELECTRONIC FUND TRANSFER. All monies due P&G under this
          LICENSE AGREEMENT shall be paid by electronic fund transfer to an
          account to be identified by written notice to PRESTIGE. PRESTIGE shall
          bear all charges associated with the electronic fund transfers.

          4.3.    OVERDUE PAYMENTS. Payments provided for in this Article 4,
          when overdue, shall bear interest compounded daily at a rate per annum
          equal to four percent (4%) in excess of the "prime rate" published by
          "The Wall Street Journal" at the time such payment is due, and for the
          time period beginning on the due date and ending on the date payment
          is received by P&G.

                                       28
<Page>

          4.4.    EFFECT OF TERMINATION. If the LICENSE for any reason is
          terminated before all of the payments provided for in this Article 4
          have been made, PRESTIGE shall immediately submit a terminal report
          and pay to P&G any remaining unpaid balance even though the due date
          as above provided has not been reached.

          4.5.    WITHHOLDING TAX. In the event and to the extent that any
          payment under this LICENSE AGREEMENT is subject to a withholding tax
          under the law of the country from which the payment is made, and a
          treaty exists between that country and the country where the payment
          is received, PRESTIGE shall be permitted to make such a deduction from
          the payment made to P&G hereunder. PRESTIGE shall, for each such
          deduction, obtain from the relevant government authority a certificate
          or other documentary evidence of such deduction to enable P&G to
          recover the amount of tax or otherwise avoid double taxation on the
          payments.

5.   Records

          5.1.    RECORDS. PRESTIGE shall keep and maintain at its regular place
          of business complete books and records of all business transactions by
          PRESTIGE in connection with LICENSED PACKAGING, including, but not
          limited to books and records relating to shipments, orders and sales
          of the LICENSED PACKAGING. Such records shall be retained by PRESTIGE
          for at least five (5) years following the year to which they pertain.

          5.2.    INSPECTION OF RECORDS. P&G, or its duly authorized agents or
          representatives, shall have the right to inspect said books and
          records at PRESTIGE's premises during regular business hours, provided
          that P&G shall give PRESTIGE at least ten (10) days advance written
          notice of its intention to do so. P&G may only inspect PRESTIGE's
          records once per calendar year and may not inspect the same records
          twice. PRESTIGE shall pay P&G the amount of any underpayment of
          royalties with interest of Twelve Percent (12%) per year within
          fifteen (15) business days after the determination of the amount of
          such underpayment. P&G shall credit the amount of any overpayment of
          royalties made by PRESTIGE to the next royalty payment due after the
          determination of such overpayment. In the event of any dispute between
          the PARTIES as to the amount of any underpayment or overpayment of
          royalties, the PARTIES shall select an independent THIRD PARTY auditor
          ("AUDITOR") who shall inspect the PARTIES' books and records relating
          to any alleged underpayment or overpayment of royalties and whose
          determination with respect hereto shall be definitive and final. If
          the AUDITOR determines that there was a net underpayment or
          overpayment of royalties, then PRESTIGE shall either pay to P&G the
          amount of any such underpayment or P&G shall credit PRESTIGE the
          amount of any such overpayment as set forth above. If the AUDITOR
          finds in favor of P&G's calculations of royalties due and owing, then
          PRESTIGE shall bear the costs and fees of the AUDITOR; if the AUDITOR
          finds in favor of PRESTIGE's calculations of royalties due and owing,
          then P&G shall bear the costs and fees of the AUDITOR. If the AUDITOR
          does not find in favor of either

                                       29
<Page>

          PARTY's calculation, then the PARTIES shall share equally the costs
          and fees of the AUDITOR.

6.   MARKING

          6.1.    MARKING. PRESTIGE shall place in a conspicuous location, on
          any product made or sold under LICENSED PATENTS, a patent notice in
          accordance with the applicable patent marking laws of the country in
          which the product is made and/or sold, should such marking serve as
          legal notice to would-be infringers.

7.   ENFORCEMENT

          7.1.    NOTIFICATION OF INFRINGEMENT. In the event PRESTIGE learns of
          any potential or alleged infringement of LICENSED PATENTS due to the
          manufacture, use, importation, offer for sale or sale ("INFRINGEMENT")
          of LICENSED PACKAGING by a THIRD PARTY, PRESTIGE shall promptly advise
          P&G of all the relevant facts and circumstances known by PRESTIGE in
          connection with the INFRINGEMENT.

          7.2.    ENFORCEMENT. P&G shall have the right, but not the obligation,
          to institute such action as it deems appropriate to terminate the
          INFRINGEMENT through negotiation, litigation and/or alternative
          dispute resolution means, at its sole discretion and at its sole cost.
          The right to institute such an action shall be exclusive to P&G. P&G
          shall have the right to select and to control counsel in any action
          initiated by P&G. PRESTIGE shall lend its name to the action, and
          provide such assistance as may be reasonably necessary. P&G has the
          right to settle such action at its sole discretion; any recovery of
          damages shall be retained by P&G.

8.   REPRESENTATIONS AND WARRANTIES

          8.1.    REPRESENTATIONS AND DISCLAIMER OF WARRANTIES. Nothing in this
          LICENSE AGREEMENT shall be deemed to be a representation or warranty
          by P&G of the accuracy, safety, or usefulness for any purpose of any
          technical information, techniques, or practices at any time made
          available by P&G; nor to the patentability or validity of any patent
          applications or granted patents licensed by P&G. P&G shall have no
          liability whatsoever to PRESTIGE or any other person for or on account
          of any injury, loss, or damage, of any kind or nature, sustained by,
          or any damage assessed or asserted against, or any other liability
          incurred by or imposed on PRESTIGE or any other person, arising out of
          or in connection with or resulting from (a) the production, use, or
          sale of any apparatus or product, or the practice of the subject
          licensed patent rights; (b) the use of any technical information,
          techniques, or practices disclosed by P&G; or (c) any advertising or
          other promotional activities with respect to any of the foregoing, and
          PRESTIGE shall hold P&G or its PERSONNEL harmless in the event P&G or
          its PERSONNEL is held liable. Additionally, neither PARTY shall be
          liable in

                                       30
<Page>

          any circumstances whatsoever (including liability for negligence or
          other tortious act or omission) for (a) any loss of profit, loss of
          contract or loss of goodwill; or (b) any indirect or consequential
          loss. P&G shall not have any liabilities or responsibilities
          whatsoever with respect to LICENSED PACKAGING.

9.   INDEMNIFICATION

          9.1. INDEMNIFICATION. PRESTIGE agrees to indemnify, hold harmless and
          defend P&G and its PERSONNEL, against any and all claims, suits,
          actions, or demands ("SUITS") for any liability, damage or loss,
          including, but not limited to, death, illness, losses, property
          damage, costs, fees, and expenses ("LIABILITY") resulting or alleged
          to result from or arising out of exercise of the licenses granted
          herein or the LICENSED PACKAGING made, used, and/or sold under this
          LICENSE AGREEMENT by PRESTIGE. In the event of a SUIT against P&G
          which might give rise to a claim of indemnification hereunder, P&G
          shall promptly notify PRESTIGE. At its own expense, PRESTIGE shall
          have the right to control the resolution of such SUIT by intervention
          or otherwise. P&G will cooperate fully to reach disposition or
          settlement of the issue.

10.  TERMINATION

          10.1.   TERMINATION. The LICENSE shall terminate upon the expiration
          of the last to expire LICENSED PATENT covering LICENSED PACKAGING,
          unless the LICENSE AGREEMENT is terminated sooner.

          10.2.   PRESTIGE TERMINATION. PRESTIGE may terminate this LICENSE
          AGREEMENT (including payment obligations hereunder) at any time by
          providing written notice to P&G. Upon PRESTIGE'S provision of notice
          of such termination, the LICENSE granted to PRESTIGE will terminate
          and such rights will revert back to P&G. Notwithstanding the above, in
          the event of any such Termination, Prestige will still make payments
          due pursuant to Section 4.4 above.

          10.3.   P&G TERMINATION. P&G may terminate this LICENSE AGREEMENT
          after written notice to PRESTIGE if PRESTIGE is in material breach of
          this LICENSE AGREEMENT providing that PRESTIGE shall have thirty (30)
          days after receipt of such written notice to take prudent and
          reasonable steps to cure the material breach. Furthermore, should
          PRESTIGE fail to cure the material breach within a reasonable time,
          termination of the LICENSE AGREEMENT shall be stayed pending
          resolution of any dispute pursuant to Article 10, if a request for
          arbitration pursuant to Article 11 is made by PRESTIGE within such
          thirty (30) day period. Notwithstanding the above, in the event of any
          such Termination, Prestige will still make payments due pursuant to
          Section 4.4 above.

11.  ARBITRATION

          11.1.   ARBITRATION OF DISPUTES. Any controversy or dispute arising
          out of or in connection with this LICENSE AGREEMENT, its
          interpretation, performance, or termination, but not including
          validity or enforceability of LICENSED

                                       31
<Page>

          PATENTS, ("DISPUTE") that the PARTIES are unable to resolve within
          ninety (90) days after written notice by one PARTY to the other of the
          existence of such DISPUTE, shall be submitted to arbitration. The
          arbitration shall be conducted in Cincinnati, Ohio, U.S.A. except as
          may otherwise be agreed by the PARTIES, in accordance with the
          Commercial Arbitration Rules of the American Arbitration Association
          ("AAA") then in effect. Each DISPUTE shall be submitted to a panel of
          three (3) impartial arbitrators with each PARTY selecting one (1)
          arbitrator within fifteen (15) days after the commencement of the
          arbitration period and the two (2) selected arbitrators selecting a
          third arbitrator within thirty (30) days after the commencement of the
          arbitration period. Any arbitration hereunder shall commence within
          thirty (30) days after appointment of the third arbitrator. Both
          Parties will use their best efforts to cause the arbitration to be
          completed in an expeditious manner. In the arbitration, Ohio law will
          govern, except to the extent that those laws conflict with the
          Commercial Arbitration Rules of the AAA and the provisions of this
          section. No discovery by either PARTY shall be permitted unless the
          arbitrators determine that the PARTY requesting such discovery has a
          substantial, demonstrable need. The arbitrators shall make final
          determinations as to any discovery disputes and all other procedural
          matters. If any PARTY fails to comply with the procedures in any
          arbitration in a manner deemed material by the arbitrators, then the
          arbitrators shall fix a reasonable time for compliance, and if the
          PARTY does not comply within such period, then a remedy deemed just by
          the arbitrators, including an award of default, may be imposed. The
          decision of the arbitrators shall be rendered no later than one
          hundred and twenty (120) days after commencement of the arbitration
          period. The final decision of the arbitrators with respect to the
          DISPUTE, shall be limited to a finding fully in favor of one PARTY's
          position, and no compromise or split decisions shall be allowed. The
          costs of arbitration shall be born by the PARTY against whom the
          arbitral decision is made. Any judgment or decision rendered by the
          panel shall be binding upon the PARTIES and shall be enforceable by
          any court of competent jurisdiction.

12.  MISCELLANEOUS

          12.1.   APPLICABLE LAW. This LICENSE AGREEMENT shall be construed
          under and enforced in accordance with the laws of the State of Ohio,
          without regard to its conflicts of laws principles.

          12.2.   CURRENCY. All monies due to either PARTY must be paid in US
          dollars.

          12.3.   HEADINGS. The headings or titles of Articles, Sections or
          Paragraphs appearing in this LICENSE AGREEMENT are provided for
          convenience and are not to be used in construing this LICENSE
          AGREEMENT.

          12.4.   ENTIRE AGREEMENT. This LICENSE AGREEMENT constitutes the
          entire understanding between the PARTIES with respect to the subject
          matter contained herein and supersedes any and all prior agreements,
          understandings and

                                       32
<Page>

          arrangements whether oral or written between the PARTIES relating to
          the subject matter hereof, except as expressly set forth herein.

          12.5.   LIMITATION ON USE OF NAMES. Neither PARTY shall use the name
          of the other PARTY without prior written consent of an authorized
          representative of the other PARTY; unless such use be required by law
          or government regulation, provided the other PARTY is given reasonable
          prior notice of such use.

          12.6.   NON-ASSIGNABILITY. This LICENSE AGREEMENT shall be binding
          upon and inure to the benefit of the PARTIES, and, except as provided
          in Paragraph 12.6.1, shall be nontransferable and nonassignable to
          THIRD PARTIES without the prior express written consent of the other
          PARTY.

                  12.6.1.  TRANSFER OF PATENT RIGHTS. Notwithstanding the terms
                  of Paragraph 12.6, the LICENSE granted herein under the
                  LICENSED PATENTS shall be binding upon any subsequent party in
                  ownership or control thereof. P&G shall be responsible for
                  ensuring the above.

          12.7.   NON-WAIVER. The waiver by either PARTY of any breach of any
          provision hereof by the other PARTY shall not be construed to be a
          waiver of any succeeding breach of such provision or a waiver of the
          provision itself.

          12.8.   PARTIAL INVALIDITY. If and to the extent that any court or
          tribunal of competent jurisdiction holds any of the terms or
          provisions of this LICENSE AGREEMENT, or the application thereof to
          any circumstances, to be invalid or unenforceable in a final
          nonappealable order, the PARTIES shall use their best efforts to
          reform the portions of this LICENSE AGREEMENT declared invalid to
          realize the intent of the PARTIES as fully as practicable, and the
          remainder of this LICENSE AGREEMENT and the application of such
          invalid term or provision to circumstances other than those as to
          which it is held invalid or unenforceable shall not be affected
          thereby, and each of the remaining terms and provisions of this
          LICENSE AGREEMENT shall remain valid and enforceable to the fullest
          extent of the law.

          12.9.   NOTICES. Any and all notices provided for shall be sent to the
          respective PARTIES at the following addresses by certified or
          registered mail or sent by a nationally recognized overnight courier
          service:

                If to PRESTIGE:  Prestige Brands International, Inc.
                                 26811 South Bay Drive
                                 Suite 300
                                 Bonita Springs, FL 34134
                                 Attention: Ted Host
                                 Telephone: (941) 948-8545
                                 Fax: (941)948-8551

                                AND COPY TO:

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<Page>

                                 Hunton & Williams
                                 Riverfront Plaza, East Tower
                                 951 East Byrd Street
                                 Richmond, VA 23219
                                 Attention:   Daniel M. LeBey, Esq.
                                 Telephone: (804) 788-8200
                                 Fax: (804) 788-8218

                If to P&G:       The Procter and Gamble Company
                                 One Procter & Gamble Plaza
                                 Cincinnati, OH 45202
                                 Attention: Manager, Healthcare L&A
                                 Telephone: (513) 983-6167
                                 Fax: (513) 983-9213

                                 AND COPY TO:

                                 Patent Department
                                 The Procter & Gamble Company
                                 8700 Mason-Montgomery Road
                                 Mason, Ohio 45040-9462
                                 Attention:  Associate General Counsel - Patents

This LICENSE AGREEMENT is hereby executed by the PARTIES by their duly
authorized representatives.

FOR: PRESTIGE BRANDS INTERNATIONAL, INC.

By:
   -----------------------------------------

Name:
     ---------------------------------------

Title:
      --------------------------------------

Date:
     ---------------------------------------


FOR: THE PROCTER & GAMBLE COMPANY

By:
   -----------------------------------------

Name:
     ---------------------------------------

Title:
      --------------------------------------

Date:
     ---------------------------------------

                                       34
<Page>


                                       35
<Page>

                                   APPENDIX A

<Table>
<Caption>
    Country       Application No.     Patent No.        Grant Date
------------------------------------------------------------------------
<S>                 <C>               <C>         <C>
Canada               2176151             --       (accepted 04 May 2000)
United States       08/602877         5,586,671        24 Dec. 1996
</Table>

                                       36
<Page>

                                   APPENDIX B

                           [U.S. Patent No. 5,586,671]

                                       37