BARR IS MANUFACTURING 149 Rx FORMULATIONS OF 58 ETHICAL DRUGS
BARR IS MANUFACTURING 149 Rx FORMULATIONS OF 58 ETHICAL DRUGS, the company disclosed in a recent prospectus outlining a secondary public offering of approximately 2.4 mil. shares. In addition, the generic tablet and capsule manufacturer said it is currently awaiting FDA approval to market 62 new products "representing various dosage forms and strengths of 25 drug products." Included among pending FDA submissions are four ANDAs for the anti-biotic cephalexin (Lilly's Keflex), which went off patent on April 21. "The company is also preparing submissions to the FDA of six additional applications for other cephalosporin dosage forms," the prospectus states. Roughly one-third of Barr's products fall into the psychotherapeutic category, where the company manufactures and markets 48 forms of 15 drugs that include chlordiazepoxide, diazepam, lorazepam, tamazepam, flurazepam, amitriptyline, phenobarbital and thioridizine. Other major therapeutic categories represented in the Barr product line include: cardiovasculars, with 23 forms of seven drugs; antihypertensives, with 17 forms of eight drugs; and analgesics, with 20 forms of seven drugs. During 1986, Barr received FDA approval for its first OTC product, 200 mg ibuprofen tablets. The company markets its products to drug chains and wholesalers, and "to a lesser extent" distributors, pharmaceutical companies, hospitals and government agencies through its 11-rep sales force. Barr, which sells products under its own as well as private labels, said it has about 425 customers, "none of which accounted for 10% or more of total sales in any of the last three fiscal years." Based on a proposed offering price of between $18-20 a share, Barr expects to raise in excess of $40 mil. Approximately $6 mil. has been earmarked for facilities and equipment and another $9.3 mil. for debt service. After the offering, which is being managed by Rothschild Unterberg Towbin, Chairman Bernard Sherman, MD, will control about 58% of the company, the prospectus notes.
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