Alra Labs acquires former SKB generics
Executive Summary
The generic manufacturer acquired from Rochester, New York-based Banmax 12 generic prescription drugs and two OTC products that were originally manufactured by SmithKline Beecham Labs. Banmax purchased the drugs from SKB in October 1987 to set the foundation for its generics business. The generic line includes impiramine tabs, propoxyphene caps, propoxyphene compound, tolbutamide, acetazolamide, amitriptyline tabs, and mepromabate. Amitriptyline and meprobamate still need to be approved, and Alra has asked FDA to waive the need for bioequivalence studies for them. Alra will manufacture and market the drugs. With the acquisition, Alra will have a total of 25 drug products. The firm had 1989 sales in the range of $25-$30 mil.
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