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PHARMACEUTICAL FORMULATIONS FISCAL 1993 REVENUES JUMP 50%

This article was originally published in The Tan Sheet

Executive Summary

PHARMACEUTICAL FORMULATIONS FISCAL 1993 REVENUES JUMP 50% to $ 45.5 mil., the Edison, N. J. generic firm announced Sept. 29. Net income for the twelve-month period ended June 30, 1993 totaled $ 1.7 mil. compared with a loss of $ 2.3 mil. in fiscal 1992, Pharmaceutical Formulations, Inc. (PFI) reported. The company attributed the revenue increase to "the continuous addition of new private-label customers and the expansion of sales of existing and newly developed products to various drug and food chains and mass merchandisers who are already the company's customers." Two factors driving this growth, PFI asserted, are the need for "the most economical products for the consumer" and the "increase [in] consumer acceptance" of private label products. "A growing segment of the company's business, which is expected to contribute even more significantly in the future to PFI's profits, is the contract manufacturing of name-brand products on behalf of the pharmaceutical companies with a major presence in the over-the-counter marketplace," PFI predicted. Formerly known as PharmaControl, PFI said it manufactures and distributes "more than 80 different types of generic OTC solid dosage pharmaceutical products in tablet, caplet, and capsule form . . . sold under its customers' store-brand labels or in bulk form to repackagers and distributors." PFI's product line includes analgesics, antacids, laxatives, antihistamines, and cough-cold preparations. Chart omitted.
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