New England Compounding Center
{{Short description|Former compounding pharmacy in Framingham, Massachusetts, US}}
{{Infobox company
|name = New England Compounding Center
|logo =
|type =
|traded_as =
|foundation = 1998
|industry = Pharmaceutical
|location = Framingham, Massachusetts U.S.
|area_served =
|key_people = Gregory Conigliaro, owner and director
Barry Cadden, owner, president and head pharmacist{{cite news|url=https://www.nytimes.com/2012/10/25/health/with-meningitis-outbreak-a-spotlight-on-family-behind-compounding-pharmacy.html|title=With Meningitis Outbreak, a Spotlight on Family Behind Compounding Pharmacy|first1=Abby Goodnough, Sabrina|last1=Tavernise|first2=Andrew|last2=Pollack|work=The New York Times |date=24 October 2012|publisher=|via=NYTimes.com}}{{cite news| author = Shira Schoenberg | title =Fourteen arrested, including owners, for meningitis outbreak tied to New England Compounding Center| quote = Those arrested include: Owner, president and head pharmacist Barry Cadden; owner and director Greg Conigliaro; national sales director Robert Ronzio; shareholder and director Carla Conigliaro; Conigliaro’s husband Doug Conigliaro, who was president of Medical Sales Management, which provided sales and administrative services to New England Compounding Pharmacy; Pharmacists Glenn Chin, Gene Svirskiy, Christopher Leary, Joseph Evanosky, Alla Stepanets, Kathy Chin and Michelle Thomas; Pharmacy technician Scott Connolly; and Pharmacy technician and later director of operations Sharon Carter.| newspaper =The Republican| date = December 17, 2014| url =http://www.masslive.com/politics/index.ssf/2014/12/fourteen_arrested_including_ow.html| accessdate = December 19, 2014}}
Lisa Conigliaro Cadden, pharmacist and owner{{cite news
| author =Laura Strickler
| title =Inside the New England Compounding Center
| quote =The New England Compounding Center was founded by brothers-in-law Greg Conigliaro and Barry Cadden.[5] The owners are Carla R. Conigliaro, Barry J. Cadden, Lisa M. Conigliaro and Gregory A. Conigliaro., according to public records from the Secretary of Commonwealth.
| newspaper =CBS News| date =October 16, 2012| url = http://www.cbsnews.com/news/inside-the-new-england-compounding-center/
| accessdate =December 19, 2014}}
Douglas Conigliaro, anesthesiologist and president of Medical Sales Management
Carla Conigliaro, shareholder and director; wife of Douglas Conigliaro
Glenn Adam Chin, supervisory pharmacist{{cite web|url=http://www.tennessean.com/story/news/health/2014/09/04/necc-sterility-pharmacist-arrested/15084545/|title=NECC sterility pharmacist arrested|website=The Tennessean |publisher=}}
|products = Pharmaceuticals
|revenue = $100 Million
|operating_income =
|net_income =
|assets =
|equity =
|num_employees = 100
|subsid =
|homepage = {{URL|http://www.neccrx.com/|neccrx.com}}
}}
New England Compounding Center (NECC) is a compounding pharmacy founded in 1998, along with its sister companies Ameridose, Medical Sales Management Inc, and Alaunus Pharmaceutical LLC. Based in Framingham, Massachusetts, the New England Compounding Center was founded by brothers-in-law Greg Conigliaro and Barry Cadden. The owners are Carla R. Conigliaro, Barry J. Cadden, Lisa M. Conigliaro and Gregory A. Conigliaro
{{cite news| author = Abby Goodnough, Sabrine Tavernise and Andrew Pollack| title =Spotlight Put on Founders of Drug Firm in Outbreak| quote =Since the national outbreak began in September, most of the scrutiny has been focused on two founders of New England Compounding, Gregory Conigliaro, an entrepreneur who has run a major recycling operation for two decades, and Mr. Cadden, the pharmacist who married Mr. Conigliaro’s sister Lisa, also a pharmacist.| newspaper =The New York Times| date =October 24, 2012| url =https://www.nytimes.com/2012/10/25/health/with-meningitis-outbreak-a-spotlight-on-family-behind-compounding-pharmacy.html?pagewanted=all&_r=1&| accessdate =December 19, 2014}}
Ameridose
Ameridose was established to be a large manufacturer of prescription medications for use in hospitals. The original location of the company's plant was in Framingham, Massachusetts next to its sister-companies New England Compounding Center and Medical Sales Management. In 2009, they purchased and started operations at two new locations, 205 and 203 Flanders Road in nearby Westborough, Massachusetts, to accommodate the steady growth of the company. Ameridose would eventually employ over 1,000 people and report annual revenues of $300 million.
NECC 2012 outbreak
The company became the center of national headlines resulting from a meningitis outbreak that started in September, 2012.{{cite web | url=http://www.lexology.com/library/detail.aspx?g=7e7f4b81-ff5a-4691-94d9-92f9991c5d77| title=Pharmacist at Center of 2012 Fungal Meningitis Outbreak Sentenced to 9 Years in Prison| publisher=Fisher Broyles LLP | date=30 June 2017 | accessdate=28 July 2017| author=- Brian E. Dickerson, Anthony J. Calamunci, Nicole Hughes Waid, Amy L. Butler and Katy Wane}} NECC recalled more than 2,000 products after distributing 17,000 vials of methylprednisolone for injection contaminated with fungi to 23 states.[http://www.modernhealthcare.com/article/20130119/MAGAZINE/301199973 Investors buying compounders: Drug shortages are persisting, leading to the deals], by Jaimy Lee, Modern Healthcare, January 13, 2013.
Food and Drug Administration (FDA) regulations dictate that compounding pharmacies like NECC combine, mix, or alter ingredients only to create specific drugs for individual patients. Massachusetts state regulators reported NECC was licensed only to prepare individual patient prescriptions.[http://www.huffingtonpost.com/2012/10/15/mass-pharmacy-founder-ha_n_1963677.html Barry Cadden, Gregory Conigliaro, Of New England Compounding Center, Had Background In Recycling], by Jay Lindsay, Associated Press, October 13, 2012. Doctors, hospitals, and clinics had turned to compounding pharmacies like NECC because they often charge much lower prices than the major manufacturers.[https://www.nytimes.com/2012/10/07/us/scant-drug-maker-oversight-in-meningitis-outbreak.html "Scant Oversight of Drug Maker in Fatal Meningitis Outbreak"], Denise Grady; Andrew Pollack; Sabrina Tavernisd, The New York Times, October 6, 2012
On December 21, 2012, the company filed for Chapter 11 bankruptcy protection, listing less than $2.34 million in debts.{{cite web|title=New England Compounding Center, Pharmacy Linked To Meningitis Outbreak, Files For Bankruptcy|url=http://www.huffingtonpost.com/2012/12/23/new-england-compounding-center-bankruptcy-meningitis-outbreak_n_2349021.html|work=The Huffington Post|date=December 21, 2012}} Following the bankruptcy, a Reuters investigation into financial filings revealed company payments exceeding $33 million to the top executives and private equity investors in 2012. The Tennessean reported that between 2008 and 2013, shareholders received a total of $300 million from NECC and its sister company, Ameridose. [https://www.reuters.com/article/us-usa-health-meningitis-idUSBRE90L0GS20130122 Meningitis-linked pharmacy owners got millions: filing], by Tim McGlaughlin, Reuters, January 22, 2013.
References
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External links
{{coord|42.27320|-71.42708|type:landmark_globe:earth_region:US-MA|display=title}}
{{Pharmaceutical companies of the United States}}
Category:Companies based in Framingham, Massachusetts
Category:Pharmaceutical companies of the United States
Category:Pharmaceutical companies established in 1998
Category:Companies that filed for Chapter 11 bankruptcy in 2012