API supplier ChemWerth’s founder, Peter J. Werth, has stepped down as president and CEO, effective immediately.
 
Werth founded ChemWerth in 1982 and led the company for 42 years. He will continue to serve as chairman of ChemWerth’s board of directors and will remain engaged in product selection and development.
 
Pete Werth III, who has been involved in the company since its inception, succeeds his father as the new president of ChemWerth. Werth III has held several leadership positions over the years. He most recently served as a member of ChemWerth’s board of directors and was a senior advisor to the company.
 
“I am very proud to be able to continue building upon the strong foundation and reputation ChemWerth has established. Not only is my father an exceptional entrepreneur, but he is also a pioneer in the generic pharmaceutical market,” said Werth III. “I plan to continue to add value to our customers and look for innovative ways to compete in today’s generic pharmaceutical landscape.”
 
“After 40-plus years, the time was right for me to hand over the reins to the next generation. Pete has been working closely with me for many years, and I have the utmost confidence in his skills and experience to take ChemWerth to the next level,” said the elder Werth. “I would also like to express my gratitude to our employees, customers and manufacturing partners who have been part of our journey over the years.”
 
Under the direction of Werth III and the senior leadership team, ChemWerth aims to continue to grow its position as a global leader in the development and supply of generic APIs. In addition to its core generic API business, ChemWerth has begun leveraging its expertise to supply APIs for biosimilars and New Drug Applications.