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Cody Labs gets license and $13MM investment for imports

July 30, 2008 /

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The MDT Disadvantaged Business Enterprise (DBE) Program encourages and supports the participation of companies owned and controlled by socially and economically disadvantaged individuals in transportation contracts.

A $13 million investment by new owners, a newly obtained import license and an expected future site inspection and approval by federal regulators could soon mean a return to full production for Cody Laboratories http://www.codylabs.com/ .

That process may take time and could hit a few snags along the way, but it could also result in a steady expansion of the manufacturer of bulk active pharmaceutical ingredients, said Arthur Bedrosian, president and chief executive officer of Lannett Company, Inc.

Philadelphia-based Lannett acquired Cody Labs in April 2007 but has not publicly disclosed its plans for the subsidiary until now, waiting instead for approval of a federal license to import raw materials for use in pain medications.

By RUFFIN PREVOST
Gazette Wyoming Bureau

Full Story: http://www.billingsgazette.net/articles/2008/07/30/news/wyoming/27-license.txt

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