Rx distributor acquires Letco

Friday, August 31, 2007

DECATUR, Ala. - The second largest distributor of generic drugs in the United States, The Harvard Drug Group, acquired the Letco Companies in early August. Mickey Letson, Letco's well-known president, will continue to lead the company as an executive and new shareholder. "The acquisition of Letco not only adds branded and generic respiratory medications to Harvard Drug's array of product offerings, but it also opens up new distribution channels for its products and services," commented Chuck Gaetano, managing director for The Braff Group, which lead the transaction. "Moreover, with Mickey Letson's continued involvement, the company adds an experienced, visionary leader to its management team."