Message #19 From:
NewsBot Date: March 2, 2007 03:59:00 AM
ACET News Aceto Announces Promotions at its Wholly Owned Subsidiary, Aceto Pharma Corp.
LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Aceto Corporation (NASDAQ:ACET), a global leader in the sourcing, regulatory support, marketing and distribution of chemically derived pharmaceuticals, biopharmaceuticals, specialty chemicals and crop protection products, today announced promotions at Aceto Pharma Corp, its wholly owned Human and Veterinary Pharmaceuticals company.
Those promoted were:
Brian Shapiro to Vice President - Human Pharmaceuticals
David Rimmler to Vice President - Veterinary Pharmaceuticals
David Petrocine to Vice President - Regulatory Affairs
Leonard S. Schwartz, Chairman, CEO and President of Aceto commented, “The promotions that we have announced today are designed to enhance the Company’s capabilities and provide a platform for more robust growth for Aceto branded products in the United States.”
On February 8, 2007, the Company previously announced that Aceto Pharma Corp. had successfully entered the market by launching its first Aceto branded generic product, isoflurane, an inhalable anesthetic for human and veterinary use with a current US market of more than $75 million.
ABOUT ACETO
Aceto Corporation, incorporated in 1947, is a global leader in the sourcing, regulatory support, marketing and distribution of chemically derived pharmaceuticals, biopharmaceuticals, specialty chemicals and crop protection products. With a physical presence in ten countries, Aceto distributes over 1000 chemicals and pharmaceuticals used principally as raw materials in the pharmaceutical, agricultural, surface coating/ink and general chemical consuming industries. Aceto’s global operations, including a staff of 26 in Shanghai and 12 in India are unique in the industry and enable its worldwide sourcing and regulatory capabilities.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections of management. Aceto intends for these forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include, but are not limited to, statements regarding Aceto’s enhanced capabilities and providing a platform for more robust growth for Aceto branded products in the United States, and prospects for long-term growth. All forward-looking statements in this press release are made as of the date of this press release, and Aceto assumes no obligation to update these forward-looking statements whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. These uncertainties include, but are not limited to, the mix of products sold and the profit margins thereon, order cancellation or a reduction in orders from customers, competitive product offerings and pricing actions, the availability and pricing of key raw materials, dependence on key members of management, risk of entering into new European markets, continued successful integration of acquisitions, economic and political conditions in the United States and abroad, as well as other risks detailed in the Company's SEC reports, including the Company's Form 10-K and other filings. Copies of these filings are available at www.sec.gov. (ACET-F)
