Rising Pharma Holdings Inc.’s Statement Regarding Recent Articles

EAST BRUNSWICK, N.J.–()–Several recent articles inaccurately state an affiliation between Rising Pharma Holdings, Inc., and Rising Pharmaceuticals, Inc., and its parent company, ACETO Corporation. To be clear, Rising Pharma Holdings, Inc., doing business as Rising Pharmaceuticals, is a separate and distinct entity, and is in no way affiliated or associated with Rising Pharmaceuticals, Inc., or ACETO Corporation.

For some background:

  1. On February 19, 2019, Rising Pharmaceuticals, Inc., a company based in Saddle Brook, New Jersey, filed for bankruptcy protection under chapter 11 of the United States Bankruptcy Code.
  2. During the pendency of Rising Pharmaceutical Inc.’s bankruptcy proceeding, Rising Pharma Holdings, Inc., purchased certain assets related to Rising Pharmaceutical Inc.’s pharmaceutical business.
  3. Rising Pharma Holdings, Inc.’s acquisition of the pharmaceutical assets closed in April 2019.

Prior to its acquisition of certain of Rising Pharmaceuticals Inc.’s assets, Rising Pharma Holdings, Inc., was in no way involved in, or part of, any actions committed by Rising Pharmaceuticals, Inc., or ACETO Corporation.

About Rising Pharma Holdings, Inc.

Rising Pharma Holdings, Inc., a privately held company, sells generic prescription products and over-the-counter pharmaceutical products under the Rising label to leading wholesalers, chain drug stores, distributors and mass merchandisers. At Rising Pharma Holdings, Inc., we continually seek new opportunities to develop our business through strategic partnerships with manufacturers, marketers and distributors under the Rising label.

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About the Author: Biotech Today

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