Good Evening
Good Evening

Aceto to begin selling two new generic prescription drugs

Aceto Corp.'s headquarters in Port Washington.

Aceto Corp.'s headquarters in Port Washington. Credit: Barry Sloan

Aceto Corp. announced Wednesday it would begin selling two new generic prescription drugs.

The Port Washington-based manufacturer of drugs and chemicals said its Rising Pharmaceuticals subsidiary is launching lithium carbonate extended-release tablets, which are a generic version of Lithobid sold by ANI Pharmaceutical Inc. The tablets are used to treat manic-depressive illness, also known as bipolar disorder.

New Jersey-based Rising also will begin selling metronidazole tablets, a generic version of Flagyl from G.D. Searle LLC, used to treat some sexually transmitted diseases and bacterial infections.

The two drugs had U.S. sales from all sources of $21 million and $51 million, respectively, for the 12 months ended Jan. 31, according to IMS Health data.

Aceto has announced the introduction of seven other generic drugs in the past twelve months. The rights to sell a couple of the drugs were purchased in September from another drugmaker, Endo International PLC of Dublin, as part of a required divestiture tied to a merger.

Aceto has been expanding its presence in the market for finished drugs since December 2010 when it purchased Rising. The local company has long been a supplier of ingredients to manufacturers of finished drugs.

Wednesday’s announcement coincided with the stock market opening. Aceto shares closed up 7 cents, or less than 1 percent, to $21.85 on the Nasdaq market. The company’s stock value has lost $5.13, or 19 percent, since Jan. 1

Aceto reported a profit of $33.5 million in the fiscal year ended June 30, 2015, on sales of $547 million.

More news