Announced: March 2008Headquarters: Montgomery, AL
Founder, Chairman and Chief Executive Officer: Carl Whatley
President: Ben Stakely
Board of Directors: Carl Whatley, Charles Smith, Norm Schellenger, Jimmy Durden, James Rives
Founded in 2001, ProEthic is a privately-held, specialty pharmaceutical company focused on the acquisition, development, licensing, and marketing of pharmaceutical products in the areas of cardiovascular disease, cough and cold, and migraine pain. Acting as exclusive financial advisor, Torreya ran the sale process and advised ProEthic on structuring a private-to-private acquisition by Kowa, a multinational Japanese company that is active in the fields of pharmaceuticals, life sciences and information technology, textiles, machinery and various consumer products. Today, ProEthic is a subsidiary of Kowa called Kowa Pharmaceuticals America. At the time of acquisition, ProEthic had begun to achieve meaningful commercial traction in the marketplace with Lipofen, a fenofibrate product in-licensed from Cipher Pharmaceuticals with potential to be complementary to Kowa’s pitavastatin. Torreya assisted with discussions with ProEthic’s debtor, GE Capital, in the context of the acquisition. Torreya also acted as exclusive financial advisor in the sale of a subsidiary of ProEthic, Midlothian Laboratories, in December 2007.
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