Barr Pharmaceuticals

Barr Pharmaceuticals, Inc.
Industry Pharmaceutical industry
Fate Acquired by Teva Pharmaceutical Industries
Founded 1970 (1970)
Defunct December 23, 2008 (December 23, 2008)
Headquarters Montvale, New Jersey
Key people
 Bruce L. Downey, Chairman & CEO
William T. McKee, CFO
Products Generic drugs
Revenue Increase $2.500 billion (2007)
Increase $0.128 billion (2007)
Total assets Decrease $4.761 billion (2007)
Total equity Increase $1.866 billion (2007)
Number of employees
 8,900 (2007)
Footnotes / references
[1]

Barr Pharmaceuticals was a global specialty and generic drug manufacturer with operations in 30 countries.

Approximately 75% of the company's revenues were from the sale of generic drugs, including 18% of sales which were from the sale of oral contraceptive pills.[1]

It was acquired by Teva Pharmaceutical Industries in 2008.[2]

History

Barr Laboratories Inc. was founded in New York in 1970 by Edwin A. Cohen.[3]

In 1993, Bruce L. Downey joined the company as its president and in 1994, he became chairman and chief executive officer of the company.[4]

In 1993, the company settled a patent infringement case and began distributing a generic version of tamoxifen citrate, a treatment for breast cancer.[5]

In 1995, the company received approval to manufacture and sell a generic version of zidovudine (AZT), a treatment for AIDS.[6]

In 1996, the company became the first to receive approval from the Food and Drug Administration to market generic Warfarin, which was previously only sold by DuPont.[7]

In 2001, the company acquired Duramed Pharmaceuticals for $589 million in stock.[8]

In August 2001, after a 5-year legal battle with Eli Lilly and Company, the company began selling a generic version of Prozac.[9]

In 2003, the company acquired Endeavor Pharmaceuticals for $35 million.[10]

In October 2006, the company acquired Pliva.[11]

On December 23, 2008, the company was acquired by Teva Pharmaceutical Industries and became part of Teva Active Pharmaceutical Ingredients (TAPI).[2]

References

  1. 1 2 "Barr Pharmaceuticals, Inc. 2007 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 "TEVA COMPLETES ACQUISITION OF BARR" (Press release). Pliva. December 23, 2008.
  3. ↑ "Barr Pharmaceuticals, Inc. History". FundingUniverse. Retrieved June 25, 2018.
  4. ↑ "Former Barr CEO Downey joins NewSpring Capital". American City Business Journals. March 11, 2009.
  5. ↑ "PATENT SETTLEMENT LIFTS BARR LABORATORIES SHARES". The New York Times. March 9, 1993.
  6. ↑ "BARR LABORATORIES WINS F.D.A. APPROVAL FOR GENERIC AZT". The New York Times. February 28, 1995.
  7. ↑ FOSS, KRISTA (October 26, 2001). "BITTER PILL". The Globe and Mail.
  8. ↑ "Barr to Buy Duramed in a Stock Swap". Los Angeles Times. Reuters. June 30, 2001.
  9. ↑ PETERSEN, MELODY (August 2, 2001). "Drug Maker Is Set to Ship Generic Prozac". The New York Times.
  10. ↑ "COMPANY BRIEFS". The New York Times. December 4, 2003.
  11. ↑ "Barr Acquires PLIVA d.d." (Press release). Pliva. October 12, 2006.
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