ACETO Subsidiary, Rising Pharmaceuticals, Announces Product Launches
July 21 2017 - 9:00AM
ACETO Corporation (NASDAQ:ACET), an international company engaged
in the development, marketing, sale and distribution of Human
Health products, Pharmaceutical Ingredients and Performance
Chemicals, today announced that Rising Pharmaceuticals, its
finished dosage form generics subsidiary, recently launched:
- Ramipril Capsules, 1.25mg, 2.5mg, 5mg, and 10mg, an
FDA-approved generic version of the reference listed drug, Altace®
from Pfizer, which is indicated for the treatment of
hypertension.
- Losartan Potassium Tablets, 25mg and 50mg, an FDA-approved
generic version of the reference listed drug, Cozaar® from Merck,
which is also indicated for the treatment of hypertension.
- Losartan Potassium and Hydrochlorothiazide Tablets, 50-12.5mg,
100-12.5mg, and 100-25mg, an FDA-approved generic version of the
reference listed drug, Hyzaar® from Merck, which is also indicated
for the treatment of hypertension.
- Pravastatin Tablets, 10mg, 20mg, 40mg, and 80mg, an
FDA-approved generic version of the reference listed drug,
Pravachol® from Bristol-Myers Squibb, which is indicated as an
adjunct to diets restricting saturated fats and cholesterol.
- Temozolomide Capsules, 5mg, 20mg, 100mg, 140mg, 180mg, and
200mg, an FDA-approved generic version of the reference listed drug
Temodar® from Schering, which is indicated for the treatment of
adult patients with newly diagnosed glioblastoma multiforme.
- Zolmitriptan Orally Disintegrating Tablets, 2.5mg and 5mg, an
FDA-approved generic version of the reference listed drug
Zomig-ZMT® from AstraZeneca, which is indicated for the acute
treatment of migraines.
The six products launched had combined U.S.
sales of approximately $580 million for the 12 months ending May
2017, according to IMS Health.
ACETO Corporation sells generic prescription
products and over-the-counter pharmaceutical products under its
Rising label to leading wholesalers, chain drug stores,
distributors and mass merchandisers, and the launch of the six
products above adds to its significant human pharmaceutical
franchise. Rising Pharmaceuticals has built a commercial
portfolio of over 120 products currently in the U.S. market. It
also has a development portfolio of more than 50 ANDAs filed with
the FDA or pending launch, representing over $7.2 billion in
addressable market value, using recent IMS sales data.
ABOUT ACETO
ACETO Corporation, incorporated in 1947 and with
offices and operations in 10 countries, is engaged in the
development, marketing, sale and distribution of Human Health
products (finished dosage form generics and nutraceuticals),
Pharmaceutical Ingredients (pharmaceutical intermediates and active
pharmaceutical ingredients) and Performance Chemicals (specialty
chemicals and agricultural protection products).
FORWARD LOOKING STATEMENTS
This news release contains forward-looking
statements as that term is defined in the federal securities
laws. The events described in forward-looking statements
contained in this news release may not occur. Generally,
these statements relate to our business plans or strategies,
projected or anticipated benefits or other consequences of ACETO’s
plans or strategies, financing plans, projected or anticipated
benefits from acquisitions that ACETO may make, or a projection
involving anticipated revenues, earnings or other aspects of
ACETO’s operating results or financial position, and the outcome of
any contingencies. Any such forward-looking statements are
based on current expectations, estimates and projections of
management. ACETO intends for these forward-looking statements to
be covered by the safe-harbor provisions for forward-looking
statements. Words such as "may," "will," "expect," "believe,"
"anticipate," "project," "plan," "intend," "estimate," and
"continue," and their opposites and similar expressions are
intended to identify forward-looking statements. The
forward-looking statements contained in this press release include,
but are not limited to, statements regarding the Company’s
strategic initiatives including selling finished dosage form
generic drugs, and statements regarding the prospects for long-term
growth. ACETO cautions you that these statements are
not guarantees of future performance or events and are subject to a
number of uncertainties, risks and other influences, many of which
are beyond ACETO’s control, which may influence the accuracy of the
statements and the projections upon which the statements are
based. Factors that could cause actual results to differ
materially from those set forth or implied by any forward-looking
statement include, but are not limited to, risks and uncertainties
discussed in ACETO’s reports filed with the Securities and Exchange
Commission, including, but not limited to, ACETO’s Annual Report on
Form 10-K for the fiscal year ended June 30, 2016 and other
filings. Copies of these filings are available at
www.sec.gov.
Any one or more of these uncertainties, risks
and other influences could materially affect ACETO’s results of
operations and whether forward-looking statements made by ACETO
ultimately prove to be accurate. In addition, periodic
high-margin product sales may have a positive material financial
impact in a given quarter that may be non-recurring in future
quarters, thereby rendering one quarter's performance not useful as
a predictor of future quarters' results. ACETO’s actual
results, performance and achievements could differ materially from
those expressed or implied in these forward-looking
statements. ACETO undertakes no obligation to publicly
update or revise any forward-looking statements, whether from new
information, future events or otherwise.
Investor Relations Contact:
LHA
Jody Burfening
jburfening@lhai.com
(212) 838-3777