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Merck & Co. Buys Back its Riverside Pharmaceutical Intermediates Plant
1:55 AM MDT | August 11, 2010 | Natasha Alperowicz
Merck & Co. says it will buy back its Riverside, PA pharmaceutical ingedients plant from PRWT Services (Philadelphia), a company that acquired the facility from Merck in 2008. Cherokee Pharmaceuticals, a wholly owned subsidiary of PRWT, is the operator of the plant. The company took over the unit at a time when major drug firms were increasingly outsourcing pharmaceutical ingredients manufacturing to save costs. The plant makes intermediate compounds for two antibiotics, Invanz and Primaxin. It also makes Merck's cholesterol drug, MK524, and Avermectin, an...
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