Tuesday, November 30, 2010

Piedmont Pharmaceuticals Inks Deal with Bayer

Piedmont Pharmaceuticals, a Greensboro-based specialty pharmaceutical company focused on human and animal health therapeutics, recently announced that Bayer HealthCare AG has acquired the company's innovative chewable application technology. As part of the acquisition, Bayer will get access to two additional products in late stage development at Piedmont. Both parties agreed that the terms of the agreement will not be disclosed.

The chewable application is well received in cats and dogs and close to market approval. The formulation technology will allow easy administration of different active ingredients to the animal. First product launches for the OTC business as well as for prescription drugs are expected in a few years.

Commenting on the arrangement, Roland Johnson, Chairman and CEO of Piedmont Pharmaceuticals, welcomed the deal with Bayer. "Our team has a twenty-five year history of successfully developing new products and working collaboratively with partners. With Bayer’s global experience and reach we will be able to distribute these product innovations across the US and to other markets"

Piedmont Pharmaceuticals joined CED in 2001 and has been an active participant since. Johnson presented at CED’s Venture conference in 2002, 2004, 2006, and in 2009. In 2010, the company was recognized in the inaugural class of North Carolina Companies to Watch.

No comments:

Post a Comment