Company expects new product launches to accelerate revenue growth in 2015
Portland, ME—January 13, 2015—Putney, Inc., a rapidly growing pet pharmaceutical company focused on the development and sale of generic prescription medicines for pets, has received FDA Center for Veterinary Medicine (CVM) approval for its Enrofloxacin Antibacterial Injectable Solution, the generic of Baytril® Antibacterial Injectable Solution. This is Putney's fifth FDA approval in five months, having previously received FDA approvals for Putney Carprofen Chewable Tablets (generic of Rimadyl® Chewable Tablets), Putney Dexmedetomidine HCl (generic of Dexdomitor® ), Putney Carprofen Sterile Injectable Solution (generic of Rimadyl® Injectable), and Putney Meloxicam Solution for Injection (generic of Metacam® Solution for Injection). With this approval, Putney becomes the only company with an FDA approved generic of both dosage forms of enrofloxacin developed specifically for pets—flavored tablet and injectable solution.
Jennifer Johansson, Putney's Senior Vice President of Regulatory Policy and Counsel, credits Putney's Regulatory Affairs and R&D teams with the string of recent FDA approvals. "We've made a significant investment to ensure the high quality of our FDA submissions and we're pleased to see a reduction in the time it is taking for our products to receive approval," says Johansson.
"This fifth FDA approval in just five months is a testament to the tremendous capabilities of our R&D team. Only six generic pet medicines were approved by the FDA in 2014, and four of them were Putney products," says Jean Hoffman, president and CEO of Putney. Hoffman points out that the Putney commercial team was equally successful in 2014, delivering over 45% year-over-year growth. "We expect to surpass that level of revenue growth in 2015 as our newly launched products are adopted by veterinarians," says Hoffman.
Putney has already commercially launched three of the products that received FDA CVM approval in the last five months—Putney Carprofen Chewable Tablets, Putney Dexmedetomidine HCl, and Putney Meloxicam Solution for Injection—and will launch Putney Carprofen Sterile Injectable Solution and Putney Enrofloxacin Antibacterial Injectable Solution shortly.
Baytril® is a registered trademark of Bayer Aktiengesellschaft.
Dexdomitor® is a registered trademark of Orion Corporation.
Rimadyl® is a registered trademark of Zoetis, LLC
Metacam® is a registered trademark of Boehringer Ingelheim Vetmedica GmbH