Alvogen Acquires Today Sponge(R) Assets.Initial Acquisition Reflects Specialty Generics Company's Focus on Filling Niche Between Branded Pharmaceuticals and Commoditized Generics NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alvogen, Inc., a Specialty Generics company seeking to establish a leadership position in an emerging "third" category of drugs beside branded pharmaceuticals and commoditized generics, today announced its initial product acquisition, the Today Sponge[R]. Utilizing a unique and challenging manufacturing process that has been significantly enhanced by Alvogen affiliate, Norwich Pharmaceuticals Inc., the Today Sponge[R] provides a safe and effective non-hormonal birth control alternative for millions of American women. "This acquisition aligns with our singular SINGULAR, construction. In grammar the singular is used to express only one, not plural. Johnson. 2. In law, the singular frequently includes the plural. focus of acquiring, developing, manufacturing and marketing our pipeline of high value products," said Douglas L. Drysdale, chief executive officer of Alvogen. "We are building this pipeline around the generation a robust product portfolio of complex generic drugs generic drug, a drug sold or prescribed under the nonproprietary name of its active ingredients or under a generally descriptive name rather than under a brand or trade name. with significant barriers to entry." In addition to utilizing the established manufacturing expertise and renowned quality reputation of Norwich Pharmaceuticals Inc., Alvogen is also leveraging the extensive product portfolios and development pipelines of its multiple affiliates in the Middle East, North Africa and Europe. Today Sponge[R] is constructed of soft polyurethane foam Noun 1. polyurethane foam - a foam made by adding water to polyurethane plastics polyfoam polyurethan, polyurethane - any of various polymers containing the urethane radical; a wide variety of synthetic forms are made and used as adhesives or plastics or containing a well known, locally-acting, non-systemic spermicide spermicide /sper·mi·cide/ (sper´mi-sid) an agent destructive to spermatozoa.spermici´dal sper·mi·cide n. An agent that kills spermatozoa, especially as a contraceptive. , N-9. The innovative manufacturing process involves both sponge creation and active ingredient An active ingredient, also active pharmaceutical ingredient (or API), is the substance in a drug that is pharmaceutically active. Some medications may contain more than one active ingredient. introduction in a continuous-process production environment. Originally introduced in 1983 and later acquired by Wyeth, the Today[R] Sponge affords the freedom and flexibility of 24-hour protection, and is safe and convenient to use. While on the market, it was the most popular over-the-counter birth control method for women, and market interest in the product has never waned. Alvogen is currently engaged in a selection process for marketing partners that will enhance sales of the Today Sponge[R] in the U.S. and internationally. Approvals for sale have been established in the U. S., Canada, UK and other countries, with significant potential for introductions in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Asia. About Alvogen, Inc. Alvogen is a specialty generics company focused on developing, producing and marketing complex, high value generic drugs; providing access to such medications; and improving the quality of life for millions of Americans. In seeking to establish a leadership position in an emerging "third" category of drugs beside branded pharmaceuticals and commoditized generics, Alvogen has successfully attracted additional investment from its leading equity partner, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. based AFI AFI American Film Institute AFI Awaiting Further Instructions AFI Armed Forces Insurance AFI A Fire Inside (band) AFI Air Force Instruction AFI Australian Film Institute AFI Agencia Federal de Investigación Partners. Funds are being applied to building both an expanded and strengthened management team, as well as manufacturing capacity at its Norwich, NY facilities. About Doug Drysdale Alvogen's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Doug Drysdale has nearly 20 years of experience in the healthcare industry. Most recently he served as corporate vice president, mergers & acquisitions and member of the executive board for Actavis Group, one of the world's leading players in the generics marketplace. Prior to joining Actavis, Drysdale held positions at Alpharma, Inc. as vice president, global business development, Forest Laboratories, Inc. and Alkensa, Inc., a CNS See Continuous net settlement. CNS See continuous net settlement (CNS). development company that he co-founded. About Norwich Pharmaceuticals, Inc. Affiliated with Alvogen, Norwich Pharmaceuticals Inc. is a contract manufacturer and packager based in Norwich, NY, providing comprehensive support-from clinical trial manufacturing through scale-up to commercial launch-to the pharmaceutical industry. The company brings over 100 years of experience to the production, packaging and distribution of solid dose, semi-solid and liquid pharmaceuticals. |
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