In Brief: Bradley Pharmaceuticals
Executive Summary
Bradley Pharmaceuticals: Payments to Berlex Laboratories deferred as part of a modification of the companies' Nov. 10, 1993 purchase agreement for Berlex's Deconamine line of cold and cough products. Bradley states that it has deferred a $2.67 mil. payment from Dec. 11 to June 30, with a further possible deferment to Aug. 15. The company will pay Berlex monthly interest on the deferred payment at the annual rate of prime plus 4%. The companies also have agreed to defer from Jan. 1, 1996 to Jan. 1, 1998 monthly payments of $84,000. Bradley states that it hopes "to use corporate funds to make the June 30, 1996 payment and to finance the continuation of Bradley's growth, as well as to make a timely second payment of $2.67 mil. due to Berlex in December 1996"...
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