Contract Pharmacal Corp. Announces Strategic Investment in Florida Pharmaceutical Products
Hauppauge, NY (May 23, 2019) — Hauppauge-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 United States 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, CEO of CPC.
Both companies are privately held, and no terms were disclosed.
Contract Pharmacal Corp.
Contract Pharmacal Corp. (CPC) develops, manufactures and packages premium pharmaceuticals, over-the-counter drugs and dietary supplements. Owned and operated by the same family that founded the company in 1971, CPC today employs 1,500 of the most highly skilled, experienced professionals in the industry and to date has commercialized more than 4,500 products.
Florida Pharmaceutical Products, Inc.
Florida Pharmaceutical Products, Inc. (FPP) is a Boca Raton, Florida-based pharmaceutical company involved in the development of generic pharmaceuticals, seeking to gain approval and/or license of niche generic products in a broad range of therapeutic areas for marketing and distribution in the US. FPP brings affordably priced prescription medications from development to distribution for the benefit of patients.
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