The headquarters of Aceto Corp. in Port Washington on Oct....

The headquarters of Aceto Corp. in Port Washington on Oct. 21, 2011. Credit: Barry Sloan

Aceto Corp. announced Tuesday it has begun selling a generic version of a medicine used to treat enlarged prostates.

The Port Washington-based manufacturer of drugs and chemicals said its Rising Pharmaceuticals division has introduced dutasteride softgel capsules, which had U.S. sales of $452 million last year among all manufacturers.

Aceto's new product is a generic version of the name-brand drug, Avodart, from pharmaceutical giant GlaxoSmithKline LLC.

Aceto purchased the drug from Par Pharmaceuticals in September 2014 along with two other softgel products.

The product announcement came before the stock market opening. In early trading, Aceto shares were down 36 cents, or about 1 percent, at $27.18 on the Nasdaq Market.

The company also announced earlier this week that it had raised $143.4 million in a private placement of convertible senior notes. Some of the proceeds will be used to retire debt and invest in research and development projects, executives said.

Latest Videos