Chemical and pharmaceutical distributor Aceto (Nasdaq:ACET) has received USDA approval to sell its supplier's canine vaccine in the United States, it said Tuesday.
"As most of you are all too well aware, the process to get the USDA to issue a permit for Aceto to import the 4 in 1 vaccine was extremely rigorous and took far longer than had been anticipated. Now, with our permit approved, discussions with our distribution partner can be accelerated and brought to a satisfactory conclusion," said chairman and CEO Albert Eilender.
The company anticipates beginning its marketing efforts with the vaccine to veterinary users in the first half of 2011.
"We view this approval as a first step towards our long term plan to develop and market a line of veterinary products," added Eilender.
Aceto Corporation, which was founded in 1947, distributes over 1,000 chemicals and pharmaceuticals used principally as raw materials in the pharmaceutical, crop protection, surface coating/ink and general chemical consuming industries.
The company was up 2.5% to 6.88 as of 10:50am ET on Tuesday.