On June 28, 2019 PL Developments, the parent company of PLD Pharma Services, bought the U.S. store-brand, over-the-counter medicine division of Teva, which is headquartered in Israel. The transaction gives PLD entry into the market for nicotine gum, lozenges and patches that are approved by the U.S. Food and Drug Administration. The nicotine gum operations will complement the company’s existing nicotine lozenges business, giving PLD one of the most comprehensive portfolios of the high value nicotine replacement therapy (NRT) space.
The 93,000-square-foot plant in Copiague that comes with the deal is home to one of only three nicotine-gum manufacturing lines in the world (and the only in the US) to be certified by the by the FDA. More than 80 people work at the factory, which PLD will keep open.
Besides smoking cessation products, Singer said the Teva deal features 41 approved and pending products including: analgesics, cough and cold remedies, first aid ointments and the first store-brand alternative for Abreva, the cold sore cream, generic versions of Rogaine products, Claritin D and others.
The Teva products and plant will “strengthen our leadership position in supplying U.S. retailers with high-quality products in their own brands across a multitude of consumer health care categories,” according to Evan Singer, PLD President. “The acquisition reinforces PLD’s position as the second largest packager and distributor of U.S. store-brand drugs.”
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