Port Washington-based specialty chemical company Aceto Corp. plans to shift its focus more closely on its own brand of generic pharmaceuticals to be sold under the Rising brand label, chief executive Albert Eilender said Wednesday in a prepared statement.
Aceto bought Rising Pharmaceuticals Inc. in December. It is "a finished dosage form marketing and distribution company," Eilender said, and as such gives Aceto a channel for developing and marketing its own brand of generic pharmaceuticals -- the Rising brand.
"While our core competencies and international reputation in sourcing, regulatory support and quality assurance enhance all our business segments, we are particularly excited about what the utilization of these competencies can yield when applied to Rising," the Aceto executive said. "We strongly believe that this new platform for growth synergizes all aspects of our health sciences efforts.
Aceto plans to maintain its core business divisions, the specialty chemicals segment and its agricultural protection products. It will downplay its trade in the herbicide glyphosate, and it will take on a partner to boost its four-in-one vaccine for canines.
"Over the next several years, we see Aceto evolving into a company primarily focused on basic human needs in the health sciences and agricultural protection industries, both of which share many common elements in their business fundamentals and logistics," Eilander said.