Aceto acquires 3 drugs for $8.2 million
The headquarters of Aceto Corp. in Port Washington on Oct. 21, 2011. The company announced Sept. 30, 2014, that it has acquired three drugs in an $8.2 million deal. Credit: Barry Sloan
A Port Washington-based manufacturer of drugs and chemicals recently purchased three drugs from another company for $8.2 million.
Aceto Corp. bought doxercalciferol and paricalcitol, both of which are for people undergoing kidney dialysis, and dutasteride, a treatment for enlarged prostate.
The medicines, made as soft-gel capsules, were acquired from Par Pharmaceuticals Inc. of Woodcliff Lake, New Jersey.
Paricalcitol has been approved by the federal Food and Drug Administration and is expected to go on sale next year. The other two drugs are awaiting approval. Competing versions of the drugs made by other manufacturers are already on sale.
Aceto chief executive Sal Guccione called the new products "valuable additions" to the company's portfolio and part of a larger strategy of "becoming a more human-health-oriented company."
For the fiscal year ended June 30 Aceto reported a record profit of $29 million, a 30 percent gain over fiscal 2013. Sales increased 2 percent to a record $510 million.
Guccione has predicted the company would introduce 11 generic drugs in fiscal year 2015, which began July 1.
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