WHAT'S NEW AT Reliable Biopharmaceutical Corporation
“Med Opportunity Partners Leads Purchase Of St. Louis Based Active Pharmaceutical Ingredient Manufacturer Reliable Biopharmaceutical Corporation”
Greenwich, CT, October 22nd, 2007- Med Opportunity Partners LLC (MEDOP), a Greenwich CT-based operating oriented private equity firm, today announced the acquisition of Reliable Biopharmaceutical Corporation (RBC).
RBC is a St. Louis, Missouri based developer and manufacturer of active pharmaceutical ingredients (APIs) and high purity pharmaceutical processing chemicals that was founded in 1968. RBC’s products are the active ingredients for leading generic injectable drugs that treat cancer, heart disease, hypertension, anxiety and other serious illnesses. RBC also manufactures critical purified downstream processing chemicals for some of the world’s leading pharmaceutical and biotechnology companies. RBC recently received the highly coveted Lilly Global Supplier of the Year award for 2007 based on its dedication to on-time deliveries and quality product manufacturing. The company also has sophisticated API research and development along with manufacturing capability of complex drug molecules to deliver customized solutions for leading generic, branded pharmaceutical and biotechnology companies.
“We are excited to invest in RBC at this time,” said Jim Breckenridge, MEDOP General Partner and new RBC Chairman. “Over the next several years $5.5 billion of non-biological injectable drugs will be coming off patent and a far greater dollar amount of biological injectable drug patents will expire. RBC is well positioned to be a major beneficiary of this overall generic explosion.”
RBC will continue to be led by its President Michael Zaleski who along with RBC’s management team has led the company to double digit growth over the last 4 years.
Michael Zaleski commented about the new partnership with MEDOP: “We are pleased to be backed by MEDOP as we enter a very exciting stage of our company’s history with an unprecedented opportunity in the generic injectable market place. Our ability to bring speed and cost effective solutions to our customers should only be enhanced by MEDOP and their operating approach.”
About Med Opportunity Partners
Med Opportunity Partners LLC (www.MedOpportunity.com) is a Greenwich, CT- based operating oriented private equity firm that invests in leading niche healthcare companies at their growth stage. MEDOP is dedicated to investing in firms that represent healthcare innovation, growth and the opportunity for consolidation. Founded in 2006 by seasoned healthcare operators and investors, MEDOP partners with companies that can benefit from its extensive industry knowledge, relationships and proven operating and transaction experience.
For more information, contact:
Med Opportunity Partners, LLC
Robert Vaters, General Partner
Two Sound View Drive, Suite 100
Greenwich, CT 06830
(973) 379-7276
Reliable Biopharmaceutical Corporation
Mike Zaleski
(314) 429-7700
|