Signs letter of intent to purchase Houba, the manufacturer of Halsey's generic doxycycline, and Houba's Rachelle Labs subsidiary. The sole supplier of generic doxycycline in the U.S., Houba has the capability to produce the drug in capsule, tablet and injectable dosages. The Culver, Indiana-based company manufactures specialty chemical compounds for the pharmaceutical, chemical, veterinary and food industries. Houba reported overall FY 1989 revenues of $35 mil.; human generic sales totaled $15 mil. FDA approved Halsey's ANDA for doxycycline capsules in May 1985.
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