Halo Pharmaceutical acquires Whippany manufacturing facility from Abbott

Privately held specialty pharmaceutical company, Halo Pharmaceutical Inc has announced today the completion of its acquisition of the Whippany-NJ Manufacturing and Research facility from Abbott.

At over 200,000 sq ft, the facilities encompass diverse manufacturing and warehousing capabilities, including an array of formulation services, operations for the aseptic filling of topical ointments, solid dosage forms, liquids, suppositories, associated packaging and lab space for formulation development, pre-clinical and clinical supplies and support of commercial operations.

An additional asset is the site's capability to manufacture controlled substances and an API manufacturing unit.

Douglas Kollmorgen, president of Halo Pharmaceutical said: "The facility and the people who are continuing on with Halo, have a long and proud history here. Under the management of Abbott, the Whippany facility has been an exemplary production operation. We welcome the opportunity to continue that tradition of excellence for our customers going forward."

Halo's initial complement of personnel will consist of around 80 from Abbott.

"We are combining the best elements of traditional pharma with the innovation, agility and strong work ethic of a startup company," said Mohd Asif, chief financial officer and head of the transaction team.

Halo is, a specialty pharmaceutical company offering contract manufacturing, early stage formulation development and laboratory services to the pharmaceutical and related industries and is seeking opportunities for contract manufacturing, in-licensing, contract laboratory services, and the acquisition of branded products from companies looking to rationalise their product portfolios.