CINCINNATI -- Prasco Laboratories, a privately held pharmaceutical company located in Cincinnati, Ohio, announced today it has begun shipping the entire Glimepiride line (1, 2, and 4 mg). Glimepiride is the Authorized Generic of Amaryl(R)(1) indicated to help lower glucose in Type II diabetes patients whose hyperglycemia cannot be controlled by diet and exercise alone. Glimepiride is an Authorized Generic tablet equivalent to sanofi-aventis' Amaryl.
"We have begun shipping the Glimepiride product as planned and we expect to capture a significant share of the market," said Prasco Chief Executive Officer, E. Thomas Arington. "As a Prasco Authorized Generic, Glimepiride will provide patients with the same quality and features as the brand product, including the unique shape. A special feature of this Authorized Generic is the patented butterfly shape that is deeply scored to help consumers identify the product," explained Arington.
Amaryl had reported sales of 353 million dollars in the last 12 months, with over 8 million prescriptions filled(2).
Glimepiride is the latest product from Prasco in its Authorized Generics program. Prasco is dedicated to bringing consumers brand quality pharmaceuticals at generic prices. Authorized Generics are products produced by brand companies and marketed under the Prasco label.
Prasco's mission is to provide both quality products and significant cost-savings to the consumer. Our goal is to provide patients with brand sameness through Prasco Authorized Generics, which are brand-products sold under the Prasco private label. Prasco's executive team has extensive experience working within both the brand and generic industries. A centerpiece of the company's corporate capabilities is its sales/marketing and business development teams. The Prasco product line is currently sold through the major distribution channels, including chains, independent pharmacies, distributors, wholesalers, and managed care providers.
The company operates from a 54,000 sq. ft. administrative office and warehouse facility and has complete control over product distribution management systems--including DEA-approved facilities for Schedule II-V controlled drug products.
(1)Amaryl(R) is a trademark of Aventis Pharmaceuticals Inc.
(2)August, 2005 IMS Prescription Data
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