WESTBURY, N.Y.—PL Developments acquired the assets of PAL Laboratories, a contract manufacturing operation in Miami; the facility is capable of manufacturing pharmaceutical, OTC and dietary supplements tablets, caplets and two-piece capsules. PL Developments is forming a new subsidiary, Avema Pharma Solutions, from the Miami operation, with a focus on developing and manufacturing new products into those markets, while PL Developments will focus on the OTC, private label market.
Mitchell Singer, president and CEO, PL Developments, said: “This acquisition is exciting for everyone at PL Developments. We believe that the synergies between the two companies are substantial. This FDA inspected facility will allow us to develop and manufacture exciting new Rx/OTC products that we will be able to deliver to our retail partners such as Wal-Mart, Costco, CVS and Walgreen’s.”