The name change follows consolidation of two subsidiaries into Luitpold to streamline operations.
| SHIRLEY, N.Y., Jan. 2, 2019 /PRNewswire/ -- Luitpold Pharmaceuticals Inc., a manufacturer and distributor of pharmaceuticals that addresses diverse medical and veterinary needs, announced it changed its legal name to American Regent, Inc. effective January 2, 2019. The name change follows consolidation of two subsidiaries into Luitpold to streamline operations. Until this announcement, American Regent was the market facing brand for Luitpold’s iron products and multisource injectable franchise, which represented more than 95% of 2017 revenue. The decision to elevate the American Regent brand as the official corporate name supports the company’s principles of customer-centricity and a deep commitment to, and investment in, U.S. sterile pharmaceutical manufacturing.
“Our goal under this renaming is to work together as one company, under one brand and with one purpose,” says Ken Keller, President and CEO of American Regent, “which is to support patient health. Nothing is more important than the safety and quality of our products and the patients they treat.” With its exclusively U.S.-based manufacturing platform, the company is positioning itself to quickly mobilize resources, more rapidly respond to market shortages, and invest in more complex sterile manufacturing. It is further investing in manufacturing facilities to provide additional flexibility in production scheduling and to drive speedier responses to changes in market demand. In turn, this strategy is expected to positively impact the company’s three lines of business in a growing product portfolio. “This transition represents a major milestone, which includes investing in a shorter supply chain, evolving toward more complex injectable products, and more quickly delivering against the immediate needs of U.S. hospitals and clinics,” says Harsher Singh, American Regent Vice President and Chief Commercial Officer, of the company’s future growth and transition. “The name American Regent reinforces our commitment to achieving greater heights as a reliable, responsive, and respected partner.” Under this renaming and through its investment in enhanced capacity, American Regent will be able to explore new product categories, and develop and deliver complex injectables including drug shortage products because, according to Ken Keller, “Patients should never have to wait for the medications they need.” About American Regent, Inc.
SOURCE American Regent, Inc. |
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