PL Developments acquires PAL Labs' manufacturing facility

WESTBURY, N.Y. PL Developments has acquired the assets of PAL Laboratories, which owns a manufacturing facility in Florida focused on the production of pharmaceutical, over-the-counter and nutritional tablets, caplets, and two-piece hard-shell capsules, which PL will use to create a new subsidiary.

This new acquisition will allow for the formation of a new PL Developments’ subsidiary, Avema Pharma Solutions. Avema will focus on developing and manufacturing new products for the pharmaceutical, OTC, and nutritional markets. The facility, which is in current good manufacturing practices, will allow Avema to partner with pharmaceutical companies to develop, manufacture, package, and distribute products for the companies to market.

According to Mitchell Singer, president and chief executive officer of PL Developments, “This acquisition is exciting for everyone at PL Developments. We believe that the synergies between the two companies are substantial. This FDA inspected facility will allow us to develop and manufacture exciting new Rx/OTC products that we will be able to deliver to our retail partners such as Wal-Mart, Costco, CVS and Walgreen’s.”