Navigation Links
Kowa Company, Ltd. Acquires ProEthic Pharmaceuticals, Inc.

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:
(Date:6/23/2016)... 2016   EpiBiome , a precision microbiome engineering ... debt financing from Silicon Valley Bank (SVB). The financing ... advance its drug development efforts, as well as purchase ... "SVB has been an incredible strategic partner to us ... bank would provide," said Dr. Aeron Tynes Hammack ...
(Date:6/23/2016)... LOUISVILLE, Ky. , June 23, 2016 /PRNewswire/ ... from two Phase 1 clinical trials of its ... double-blind, placebo-controlled, single and multiple ascending dose studies ... and pharmacodynamics (PD) of subcutaneous injection in healthy ... APL-2 subcutaneously (SC) either as a single dose ...
(Date:6/23/2016)... ... June 23, 2016 , ... ClinCapture, the only free ... and will showcase its product’s latest features from June 26 to June 30, ... poster on Disrupting Clinical Trials in The Cloud during the conference. DIA ...
(Date:6/23/2016)... 23, 2016 adds ... to its pharmaceuticals section with historic and forecast ... much more. Complete report on the ... profiling 15 companies and supported with 261 tables ... . The Global Cell Culture ...
Breaking Biology Technology:
(Date:4/26/2016)... , April 27, 2016 ... the  "Global Multi-modal Biometrics Market 2016-2020"  report to ... ) , The analysts forecast the ... CAGR of 15.49% during the period 2016-2020.  ... number of sectors such as the healthcare, BFSI, ...
(Date:4/13/2016)... , April 13, 2016  IMPOWER physicians supporting ... are setting a new clinical standard in telehealth thanks ... By leveraging the higi platform, IMPOWER patients can routinely ... pulse and body mass index, and, when they opt ... and convenient visit to a local retail location at ...
(Date:3/22/2016)... 22, 2016 According ... Market for Consumer Industry by Type (Image, Motion, ... (Communication & IT, Entertainment, Home Appliances, & ... to 2022", published by MarketsandMarkets, the market ... reach USD 26.76 Billion by 2022, at ...
Breaking Biology News(10 mins):