PORT WASHINGTON, N.Y., June 13, 2013 (GLOBE NEWSWIRE) -- ACETO Corporation (Nasdaq:ACET), a global leader in the marketing, sale and distribution of products for Human Health, Pharmaceutical Ingredients and Performance Chemicals, today announced that Satish Srinivasan has accepted the position of President and Chief Operating Officer of its Rising Pharmaceuticals subsidiary, effective July 15, 2013.
Salvatore Guccione, Chief Executive Officer of ACETO, reported, "I am extremely pleased to have generics industry veteran Satish Srinivasan join ACETO in a senior leadership position. I am confident that Satish's talent and experience will allow him to contribute greatly to ACETO, both as the operating leader of Rising Pharmaceuticals, our generic drug business, and as an integral member of ACETO's senior management team. Multiple opportunities exist to expand our generic pharmaceutical business for which Satish, with his significant strategic leadership and overall business skills, will prove to be a valuable asset. He will report directly to me and I anticipate that he will be able to contribute to our ongoing growth from the onset of his joining the company."
Satish has nearly twenty years of experience in the generic pharmaceutical industry, all with Orchid Chemicals & Pharmaceuticals Ltd ("OCP"). Over the years, he has held various business development, operating and management roles, serving most recently as the President and CEO of Orchid Pharma, Inc. and Orgenus Pharma Inc, the U.S. operating subsidiaries of OCP, a vertically integrated company spanning the entire pharmaceutical value chain from discovery to marketing.
Satish holds a Bachelor of Science in Pharmacy from the University of Bombay and a Masters of Science in Pharmacy Administration from the University of Illinois. He lives in Princeton, New Jersey with his wife and their two daughters.
ACETO Corporation, incorporated in 1947, is a global leader in the marketing, sale and distribution of products for Human Health (finished dosage form generics and nutraceutical products), Pharmaceutical Ingredients (pharmaceutical intermediates and active pharmaceutical ingredients) and Performance Chemicals (specialty chemicals and agricultural protection products). With business operations in nine countries, ACETO distributes over 1,100 chemical compounds used principally as finished products or raw materials in the pharmaceutical, nutraceutical, agricultural, coatings and industrial chemical industries. ACETO's global operations, including a staff of 25 in China and 12 in India, are distinctive in the industry and enable its worldwide sourcing and regulatory capabilities.
This news release contains forward-looking statements as that term is defined in the federal securities laws. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Factors that could cause actual results to differ materially from those set forth or implied by any forward-looking statement include, but are not limited to, risks and uncertainties discussed in ACETO's reports filed with the Securities and Exchange Commission, including, but not limited to, ACETO's Annual Report or Form 10-K for the fiscal year ended June 30, 2012 and other filings. Copies of these filings are available at www.sec.gov. ACETO undertakes no obligation to publicly update or revise any forward-looking statements, whether from new information, future events or otherwise.
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