Bradley Pharmaceuticals
Executive Summary
Acquires rights to Upshur-Smith Labs' Lubrin OTC vaginal lubricating inserts. Lubrin sales are forecast by Minneapolis- based Upshur-Smith to top $600,000 in 1992. Bradley is obtaining the rights for $1 mil. plus warrants to purchase 60,000 shares of the company's Class A common stock at $4.50 per share. Fairfield, N.J.-based Bradley additionally will pay Upshur-Smith royalties of 4% on the first $500,000 of adjusted sales and 3% thereafter through 1999. The Lubrin contract covers the U.S. and world market excluding Hong Kong, Japan, Australia, Taiwan, Finland and Italy.