Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By



Executive Summary

WHITEWORTH/TOWNE-PAULSEN IS BEING ACQUIRED BY INVESTOR GROUP following the breakdown of merger talks with Zenith, according to a May 20 press release put out by the two generic drug subsidiaries of Whiteworth Internal. The West Coast private investor group has signed a letter of intent to purchase Whiteworth, Inc. and Towne-Paulsen, the release notes. Terms of the agreement were not disclosed; however, the release states, the sale is "expected to be final on June 18, 1985." The announcement comes in the aftermath of Zenith Labs' press release on May 16, which indicated that the company had terminated negotiations to acquire both Whiteworth, Inc. and Towne-Paulsen. Zenith had announced on April 12 that it had signed a letter of intent for the acquisition of the two generic subsidiaries ("The Pink Sheet" April 29, T&G-18). The private group of Southern California investors is headed by Douglas Bradshaw and Robert Bradshaw, according to the release, and includes Wayne Dunlap and William Crawford. The Bradshaws also own a California-based food brokerage business, Bradshaw, Inc. The release said that Dunlap will serve as Exec VP of Whiteworth/Towne-Paulsen and have primary responsibility for marketing and sales. Crawford will become VP of manufacturing, R&D and quality control under the new arrangement. A. D. White, current president of the company, will continue as CEO "during a transition period," the release noted. "We're especially high on the future of the generic drug business and through this agreement we are acquiring one of the finest manufacturing facilities of generic drugs on the West Coast," stated Douglas Bradshaw. Whiteworth and Towne-Paulsen had combined sales of approximately $26 mil. in 1984. In its merger agreement announcement in April, Zenith said that Whiteworth and Towne-Paulsen have not been operating at a profit recently.

You may also be interested in...

Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance

FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials

Shire Hopes To Sow Future Deals With $50M Venture Fund

Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth




Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts