ACETO Subsidiary, Rising Pharmaceuticals, to Launch the Authorized Generic Version of Covis Pharma S.a.r.l.'s Rilutek(R)
PORT WASHINGTON, N.Y., June 11, 2013 (GLOBE NEWSWIRE) -- ACETO Corporation (Nasdaq:ACET), a global leader in the marketing, sale and distribution of products for Human Health, Pharmaceutical Ingredients and Performance Chemicals, today announced that Rising Pharmaceuticals Inc., its finished dosage form generics subsidiary, will launch the 50mg strength of Riluzole Tablets, an FDA approved authorized generic version of Covis Pharma's Rilutek®. According to IMS Health data, U.S. market sales for Riluzole, which is used to treat Amyotrophic Lateral Sclerosis (ALS), were approximately $64 million for the twelve months ended December 31, 2012. This is the ninth generic product launched by Rising Pharmaceuticals in fiscal 2013.
ACETO Corporation, incorporated in 1947, is a global leader in the marketing, sale and distribution of products for Human Health (finished dosage form generics and nutraceutical products), Pharmaceutical Ingredients (pharmaceutical intermediates and active pharmaceutical ingredients) and Performance Chemicals (specialty chemicals and agricultural protection products). With business operations in nine countries, ACETO distributes over 1,100 chemical compounds used principally as finished products or raw materials in the pharmaceutical, nutraceutical, agricultural, coatings and industrial chemical industries. ACETO's global operations, including a staff of 25 in China and 12 in India, are distinctive in the industry and enable its worldwide sourcing and regulatory capabilities.
This news release contains forward-looking statements as that term is defined in the federal securities laws. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Factors that could cause actual results to differ materially from those set forth or implied by any forward-looking statement include, but are not limited to, risks and uncertainties discussed in ACETO's reports filed with the Securities and Exchange Commission, including, but not limited to, ACETO's Annual Report or Form 10-K for the fiscal year ended June 30, 2012 and other filings. Copies of these filings are available at www.sec.gov. ACETO undertakes no obligation to publicly update or revise any forward-looking statements, whether from new information, future events or otherwise.
CONTACT: Investor Relations Contact: Stephanie Carrington The Ruth Group (646) 536-7017 email@example.com
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