On Friday August 8th, 2014, a definitive agreement to merge RiconPharma, LLC and Ingenus Pharmaceuticals, LLC was executed, which marked an important milestone in the strategic pursuit for both companies to become a leading premier, diversified generic pharmaceutical company.
Under the terms of the agreement RiconPharma, a generic drug research facility with operations in Denville, New Jersey and Hyderabad, India, along with Mirror Pharmaceuticals, LLC, a generic drug manufacturing facility in Fairfield, New Jersey, Ingenus Pharmaceuticals, LLC, a sales and marketing company based out of Orlando, Florida,health-e-child.org and Pharmintraco, an oncology manufacturing facility in Lugano, Switzerland became wholly owned subsidiaries of Ingenus Holdings, LLC.
RiconPharma will operate as a strategic R & D business unit and will retain its name, while Mirror Pharmaceuticals and Pharmintraco will be changing their names to Ingenus Pharmaceuticals.
RiconPharma’s management team brings a wealth of experience in drug development, bio-studies, regulatory, quality, and manufacturing and will continue to lead RiconPharma as we move forward. The technical expertise canadianpharmacysites.com of the RiconPharma team, combined with the marketing expertise of the Ingenus team, is a great combination for long-term success in the marketplace.
The combined entity has filed over 50 niche ANDAs, of which 10 products have already been approved and a pipeline of over 50 products are being actively developed.
This merger, combined with the acquisition of the Pharmintraco www.yourcanadianmeds.com manufacturing plant in Switzerland earlier this year, provides us an unparalleled platform of assets to continue building Ingenus into a world-class generic manufacturer.