ACETO Subsidiary, Rising Pharmaceuticals, Launches Atenolol Tablets, 25mg, 50mg and 100mg
February 07 2018 - 10:04AM
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, has launched Atenolol
Tablets, 25mg, 50mg and 100mg, an FDA-approved generic version of
the reference listed drug, TENORMIN® from Alvogen Malta
Operations LTD, which is indicated for hypertension. Atenolol
is currently listed on the FDA Drug Shortages database. The
Atenolol Tablets, 25mg, 50mg and 100mg, had sales of approximately
$60.9 million for the 12 months ending December 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 Atenolol
Tablets, 25mg, 50mg and 100mg, adds to its significant human
pharmaceutical franchise. Rising Pharmaceuticals has built a
commercial portfolio of over 140 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 $12.5
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, 2017 and other
filings, including Amendment No. 1 on Form 10-K/A to our annual
report on Form 10-K for the fiscal year ended June 30, 2017. 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