An investment group comprising pharmaceutical industry veterans acquires the assets of supplement ingredient developer Nutrition 21 LLC, which filed for Chapter 11 bankruptcy protection in August. According to a Nov. 23 filing with the Securities and Exchange Commission, the Purchase, N.Y., firm’s assets sold for $7.4 million. The investors include Michael Satow, Nutrition 21’s new CEO, and Phillip Satow, former executive VP of Forest Laboratories Inc., who now chairs Nutrition 21’s board, according to a Nov. 28 release. The Satows also co-founded Noven Therapeutics LLC, acquired in 2007 by Noven Pharmaceuticals Inc. Purchase, N.Y.-based Nutrition 21, which makes Chromax chromium picolinate, unsuccessfully ventured into finished supplement products and failed to redeem $17.75 million in convertible preferred stock Also see "Nutrition 21 Files For Bankruptcy, Hamstrung By Finished Product Detour" - Pink Sheet, 5 September, 2011..
FDA approves Perrigo Co. PLC’s abbreviated new drug application for guaifenesin extended-release tablets, the private labeler says Nov. 28....
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