Luitpold of Shirley acquires Ohio drugmaker
Shirley-based Luitpold Pharmaceuticals Inc. has acquired PharmaForce, based in Columbus, Ohio, the company announced Wednesday.
Under the agreement, Luitpold purchased all of the stock of PharmaForce, a privately held drug manufacturer founded in 1999. Terms of the deal were not disclosed.
A Luitpold subsidiary, American Regent Inc., which manufactures generic injectable drugs and iron products, will market the PharmaForce product line.
Luitpold chief executive Mary Jane Helenek said the acquisition "provides an immediate expansion of our R&D pipeline, increased manufacturing capacity and establishes a base from which to move forward with different injectable dosage forms to take advantage of the fast-growing generic injectable market."
The transaction was completed Dec. 29.
PharmaForce has three manufacturing and research and development facilities and about 100 employees.
Helenek said that PharmaForce's management team and employees would be staying on and that the company plans to build a fourth manufacturing facility in the Midwest.
Luitpold has about 500 employees, including 400 on Long Island. The company is a subsidiary of Tokyo-based Daiichi-Sankyo Co. Ltd.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
