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Contract Pharmacal Corp. Acquires Florida Pharmaceutical Products

Signals CPC’s entry into the generic Rx space

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Hauppauge, NY-based pharmaceutical company Contract Pharmacal Corp. has acquired Florida Pharmaceutical Products, Inc. (FPP), a generic pharmaceutical company focused on R&D, co-development and licensing.
 
Headed by its president, 35-year industry veteran Larry Lapila, FPP has already inked a variety of partnership agreements in 2019. In January, FPP entered into a partnership with Bluepharma, agreeing to file an ANDA and manage product sales, marketing and distribution within the U.S. upon FDA approval. In February, the company signed a joint venture agreement to manage sales, marketing and distribution for Quinn Pharmaceuticals, an own-label distributor with commercial products.
 
“The investment in FPP solidifies CPC’s entrance into the generic Rx market and provides FPP with the capital and manufacturing resources to expand its product portfolio and accelerate growth,” said Matt Wolf, chief executive officer, CPC.
 
Both companies are privately held, no terms were disclosed.

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