Product Quest seeks bankruptcy protection

Product Quest Manufacturing has filed for Chapter 11 bankruptcy court protection. The drug maker had been negotiating with its senior secured lenders regarding potential additional financing to fund the operations at its Kannapolis, NC, facility while it found a potential buyer.

Product Quest Manufacturing has filed for Chapter 11 bankruptcy court protection. The drug maker had been negotiating with its senior secured lenders regarding potential additional financing to fund the operations at its Kannapolis, NC, facility while it found a potential buyer. Its lenders were unwilling to advance any more funds, the company says. Product Quest issued a recall last month of the CVS Health 12-Hour Sinus Relief Nasal Mist it produces after it was found to be contaminated. The company filed its bankruptcy petition in United States Bankruptcy Court for the Middle District of North Carolina. Product Quest manufactured primarily OTC drugs and cosmetics, as well as some prescription drugs and animal health products.