ACETO Completes Acquisition of PACK Pharmaceuticals

ACETO Corporation’s wholly owned subsidiary, Rising Pharmaceuticals, has closed on its acquisition of 100% of the equity interests of PACK Pharmaceuticals,  a national marketer and distributor of generic prescription and over-the-counter pharmaceutical products. The total transaction value is approximately $100 million.

“The strategically important and complementary business combination of PACK with our Rising Pharmaceutical business further increases the mix of higher margin finished dosage generic pharmaceuticals in ACETO’s revenue base and doubles the size of our development pipeline of new generic products,” said Sal Guccione , chief executive officer of ACETO, in a press statement. “In addition, the acquisition establishes ACETO in branded generics for the first time. We welcome the management and employees of PACK Pharmaceuticals to ACETO and look forward to building significant shareholder value together.” PACK has a pipeline that includes 22 abbreviated new drug applications that have been filed with FDA and approximately 30 additional generic product candidates that are in varying stages of development. 

Source: ACETO

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