Akrimax buys Wyeth's Rouses Point plant

Akrimax Pharmaceuticals says that it has acquired the drug product manufacturing and packaging plant in Rouses Point, New York, from fellow USA-based Wyeth. Financial terms of the transaction were not revealed, but it is intended that the two companies will have a cooperative relationship during a transition period, with the deal expected to close in late 2009.

The acquisition by Akrimax averts closure of the plant, which has been a fixture in Rouses Point for several decades and one of the largest private employers in the North Country since the 1980s. Wyeth announced in late 2005 that its operations at this plant would be phased out due to changes in product demand and an assessment of its manufacturing network. Akrimax, headquartered in Rouses Point, is an emerging branded pharmaceutical company.