Four years after some of its former top officers pleaded guilty to bribing Food & Drug Administration officials, a remade Pharmaceutical Resources is now in the clear. The generic drugmaker, once known as Par Pharmaceutical, on Oct. 26 announced that the agency will review its applications for new products after refusing to do so for four years. CEO Kenneth Sawyer, a former Philadelphia assistant district attorney who took over in 1989, has purged some 37 managers. Now, he aims to win approvals for 25 pending generic-drug applications and reintroduce some older products to rebuild the company's line to more than 100 drugs again.
Before it's here, it's on the Bloomberg Terminal. LEARN MORE