In July 1975, two pharmacy professors from the University of North Carolina at Chapel Hill founded Carolina Medical Products Co. James Olsen and Henry Smith had a vision to build a pharmaceutical manufacturing company focused on developing and commercializing niche oral liquid and semi-solid topical products for unmet patient needs.
In 1982, Carolina Medical introduced the first ready-to-use liquid suspension of sodium polystyrene sulfonate for the treatment of hyperkalemia, or elevated potassium levels in the blood. Carolina Medical’s innovative product known in the industry as SPS provided a much more patient-friendly treatment over the powder alternative. Today our company is still the market leader for the treatment of hyperkalemia.
In addition to topical ointments for various forms of dermatitis and skin disorders, in 1986, Carolina Medical introduced a liquid isoniazid for the treatment of tuberculosis. A liquid treatment was desperately needed, particularly for children. Up until that time, only tablets were available, which had to be fractioned for age and weight appropriate dosing. Carolina Medical’s isoniazid is still the only liquid treatment for tuberculosis available in the U.S.
Carolina Medical was acquired in 2012 by Altaris Capital Partners, a private equity firm from New York which focuses on accelerating growth and building value in healthcare companies. Smith, the sole owner at the time of the sale, stays active with the company as a board director.
While CMP Pharma has new ownership and a new name, we are carrying on Smith and Olsen’s original vision of developing and commercializing niche products for unmet patient needs.
In August of 2017, we received approval from FDA for our first branded cardiovascular product CaroSpir®. Up until then, spironolactone was only available in tablet form. CMP’s CaroSpir (spironolactone oral suspension) eliminates the need for pharmacy compounding or crushing of tablets, providing accurate dosing and an easy to swallow treatment for patients that have difficulty swallowing tablets.
Most recently, on September 19 of this year, CMP received approval from FDA of its second pipeline product, Potassium Phosphates Injection, for repletion of phosphate. Up until this approval, medical institutions had no choice but to use Rx potassium phosphates injection products which had not received FDA approval.
We are excited about the future as we enjoy a robust development pipeline of branded liquid products with specific focus in cardiology. We are continually building our hospital sales force across the U.S. to support existing products and the pipeline products on the way. As we continue to expand our portfolio of products, we continue to add jobs in Pitt County in areas of manufacturing, quality assurance, quality control, regulatory compliance, analytical chemistry, formulations development and various support functions. Eastern North Carolina is rich in pharmaceutical activity and talent and I can’t think of a better place to build and grow a company.
CEO, CMP Pharma