Firm will develop, manufacture, and distribute its own products as well as those obtained through contract manufacturing deals.
Akrimax Pharmaceuticals bought Wyeth’s drug manufacturing and packaging plant in Rouses Point, NY. In late 2005, Wyeth decided to phase out operations at this site. Akrimax’ acquisition thus averts closure of the plant.
Wyeth and Akrimax will have a cooperative relationship during a transition period that will conclude at the end of 2009. During this time, Akrimax will lease the facility back to Wyeth, so that Wyeth can continue manufacturing its products, while Akrimax begins integrating its own products into the facility.
“Our plan is to develop, manufacture, and distribute pharmaceutical products from our own product portfolio and other third-party contracts,” says Joseph Krivulka, one of the Akrimax founders.