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GENERICS U.K. SALES IN 1990 WERE APPROXIMATELY $ 30 MIL.

Executive Summary

GENERICS U.K. SALES IN 1990 WERE APPROXIMATELY $ 30 MIL., up 27% from the year before. Figures from British filings compiled by ICC information services provide a picture of the size and resources of the generics company that is challenging Glaxo's Zantac patent. Generics U.K. is an affiliate of the Canadian firm Genpharm, which made the initial filings to precipitate the patent challenge. Generics U.K. had sales of just over 17.5 mil. British pounds during its most recent full fiscal year ended April 30, 1990. This figure was up from (BRITISH POUND)13.7 mil., or $ 24.6 mil., the preceding April. Measured in pounds/sterling, the company's trading profits remained roughly constant at (BRITISH POUND)1.6 mil. in both fiscal 1989 and 1990. In U.S. dollars, they declined slightly, falling $ 2.8 mil. in FY 1989 to $ 2.6 mil. in FY 1990. Generics U.K. had total assets at the end of fiscal 1990 of approximately $ 19 mil. and just over 100 employees. Its total corporate sales are equal to about a week's worth of Zantac sales in the U.S.

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