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Halo Pharmaceutical, Inc. Acquires Whippany Manufacturing Facility from Abbott
Date:1/6/2009

WHIPPANY, N.J., Jan. 6, /PRNewswire/ -- Halo Pharmaceutical, Inc., a privately held specialty pharmaceutical company, has announced today the completion of its acquisition of the Whippany-NJ Manufacturing and Research facility from Abbott (NYSE: ABT). At over 200,000 square feet, Halo's facilities encompasses highly-diverse manufacturing and warehousing capabilities, including an impressive array of formulation services, operations for the aseptic filling of topical ointments, solid dosage forms (tablets and capsules), liquids, suppositories, associated packaging (tablet, powder, liquids and HUD) and ample laboratory space for formulation development, pre-clinical and clinical supplies and support of commercial operations. An additional asset is the site's capability to manufacture controlled substances (C2-C5) and an API manufacturing unit with an outstanding track-record of meeting DEA requirements. "We are extremely excited about the acquisition of this outstanding facility," said Douglas Kollmorgen, President of Halo Pharmaceutical. "The facility and the people who are continuing on with Halo, have a long and proud history here. Under the management of Abbott, the Whippany facility has been an exemplary production operation. We welcome the opportunity to continue that tradition of excellence for our customers going forward."

Halo's initial complement of personnel will consist of close to 80 highly-experienced pharmaceutical industry veterans from Abbott, and is expected to grow rapidly as the business develops further. "We are combining the best elements of traditional pharma with the innovation, agility and strong work ethic of a startup company," said Mohd Asif, Chief Financial Officer and head of the transaction team. "One of our great differentiators will be our focus on infusing the operation with our own unique culture, while pres
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SOURCE Halo Pharmaceutical, Inc.
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