Navigation Links
Kowa Company, Ltd. Acquires ProEthic Pharmaceuticals, Inc.
Date:8/4/2008

New Company to be Called Kowa Pharmaceuticals America

NAGOYA, Japan and MONTGOMERY, Ala., Aug. 4 /PRNewswire/ -- Kowa Company, Ltd., a privately-held company headquartered in Nagoya, Japan, today announced the acquisition of ProEthic Pharmaceuticals, Inc., a privately-held specialty pharmaceutical company based in Montgomery, Alabama.

Effective September 1, 2008, ProEthic will change name to Kowa Pharmaceuticals America and will assume responsibility for all sales and marketing functions currently operating in Montgomery, Alabama. ProEthic's clinical development group will transfer to Kowa Research Institute, which is located in Morrisville, North Carolina.

"The opportunity to enter the U.S. pharmaceutical market represents a significant step towards Kowa's vision of creating a global pharmaceutical organization. Pharmaceuticals represent one of Kowa's fastest growing businesses, and we are happy that Kowa Pharmaceuticals America will now be part of that plan," said Yoshihiro Miwa, President and Chief Executive Officer of Kowa. "We are optimistic about the prospects that this acquisition will bring, and we will work closely with the company to ensure its future success."

The first pharmaceutical product to be launched by the new company will be pitavastatin, a novel HMG CoA reductase inhibitor for the treatment of hyperlipidemia. Pitavastatin is sold in Japan, Korea and Thailand under the brand Livalo(R). Pitavastatin has recently completed Phase 3 clinical development in Europe and the United Sates.

"We are excited about the partnership with Kowa and the confidence they have shown in our management team and its ability to grow the company into becoming a leading provider of unique and effective pharmaceutical products," said Carl Whatley, Chief Executive Officer of ProEthic. "We also look forward to the future launch of products from Kowa's rich pipeline, currently in clinical development at Kowa Research Institute."

About Kowa

Since its establishment in 1894, Kowa has grown into a multinational Japanese company actively engaged in various manufacturing and trading activities in the fields of pharmaceutical, life science and information technology, textiles, machinery and various consumer products. During its long history, Kowa has consistently strived to meet the changing needs, and with its continuing entrepreneurial initiative, is determined to meet the needs of future generations. It is this commitment to consistency and initiative in an ever-changing world that Kowa vows to carry forward through each generation.

About ProEthic

ProEthic is a specialty pharmaceutical company focused primarily in the areas of cardiology, pain and migraine. Founded in 2001, the privately held company focuses its efforts on the acquisition, development, licensing, and marketing of pharmaceutical products. Its lead product, Lipofen(R), is indicated as adjunctive therapy to diet to reduce elevated triglycerides and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia.


'/>"/>
SOURCE ProEthic Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. The Jordan Company, L.P. Has Teamed with the Management of Haas TCM Inc. to Form Haas TCM Group Inc.
2. China Aoxing Pharmaceutical Company Signed Definitive Acquisition Agreement to Acquire Shijiazhuang Lerentang Pharmaceutical Company, Ltd.
3. InnovationRx, a Prescription Adherence Solutions Company, and InforMedix Partner to Market and Sell End-to-End Medication Adherence Solutions
4. Pathology Consultants, Inc. Selects PSA, LLC, a MED3OOO Company, as Their Business Partner
5. Amnis and Gene Company, Ltd. Announce Agreement to Market ImageStream Technology in China
6. Takedas Antibody Therapeutics Research Company, Takeda San Francisco, Inc. Appoints Mary Haak-Frendscho, Ph.D. as President and CSO
7. Idenix Pharmaceuticals to Present at the Seventh Annual Needham and Company, LLC Biotechnology and Medical Technology Conference
8. Inverness Medical Innovations to Present at 7th Annual Needham & Company, LLC Biotechnology & Medical Technology Conference on June 12, 2008
9. Arena Pharmaceuticals to Present at the Seventh Annual Needham & Company, LLC Biotechnology and Medical Technology Conference
10. IPC The Hospitalist Company, Inc. Reaffirms Guidance for 2008
11. Clinical Data Acquires Epidauros Biotechnologie AG, Significantly Enhancing Proprietary Genetic Biomarker Portfolio
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... Md. (PRWEB) , ... October 11, 2017 , ... ... digital pathology, announced today it will be hosting a Webinar titled, “Pathology is ... Advanced Pathology Associates , on digital pathology adoption best practices and how Proscia ...
(Date:10/11/2017)... TX (PRWEB) , ... October 11, 2017 , ... ... August compared the implantation and pregnancy rates in frozen and fresh in ... contribution of progesterone and maternal age to IVF success. , After comparing the ...
(Date:10/10/2017)... ... October 10, 2017 , ... For the second ... a US2020 STEM Mentoring Award. Representatives of the FirstHand program travelled to Washington, ... from US2020. , US2020’s mission is to change the trajectory of STEM education ...
(Date:10/10/2017)... ... 10, 2017 , ... USDM Life Sciences , the ... sciences and healthcare industries, announces a presentation by Subbu Viswanathan and Jennifer Jaye ... GxP Validation for Agile Cloud Platforms,” will present a revolutionary approach to achieving ...
Breaking Biology Technology:
(Date:4/11/2017)... 11, 2017 Crossmatch®, a globally-recognized leader ... today announced that it has been awarded a ... Activity (IARPA) to develop next-generation Presentation Attack Detection ... "Innovation has been a driving force within Crossmatch ... allow us to innovate and develop new technologies ...
(Date:4/5/2017)... , April 5, 2017  The Allen Institute for ... Cell Explorer: a one-of-a-kind portal and dynamic digital window ... imaging data, the first application of deep learning to ... stem cell lines and a growing suite of powerful ... for these and future publicly available resources created and ...
(Date:3/30/2017)... , March 30, 2017  On April 6-7, 2017, ... the Genome hackathon at Microsoft,s headquarters in ... competition will focus on developing health and wellness apps ... Hack the Genome is the first hackathon ... The world,s largest companies in the genomics, tech and ...
Breaking Biology News(10 mins):