Contract Pharmacal acquires Florida Pharmaceutical Products
Contract Pharmacal has acquired Florida Pharmaceutical Products, a generic pharmaceutical company focused on research and development, co-development and licensing.
FPP inked several partnership agreements in 2019. In January, FPP entered into a partnership with Bluepharma, agreeing to file an ANDA and manage product sales, marketing and distribution within the United States upon Food and Drug Administration approval. In February, the company signed a joint venture agreement to manage sales, marketing and distribution for Quinn Pharmaceuticals, an own-label distributor with commercial products.
“The investment in FPP solidifies CPC’s entrance into the generic Rx market and provides FPP with the capital and manufacturing resources to expand its product portfolio and accelerate growth,” Matt Wolf, CPC CEO said.
Both companies are privately held and terms were not disclosed.
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