Barr Pharmaceuticals was a global specialty and generic drug manufacturer with operations in 30 countries.
Industry | Pharmaceutical industry |
---|---|
Founded | 1970 |
Defunct | December 23, 2008 |
Fate | Acquired by Teva Pharmaceutical Industries |
Headquarters | Montvale, New Jersey |
Key people | Bruce L. Downey, Chairman & CEO William T. McKee, CFO |
Products | Generic drugs |
Revenue | $2.500 billion (2007) |
$0.128 billion (2007) | |
Total assets | $4.761 billion (2007) |
Total equity | $1.866 billion (2007) |
Number of employees | 8,900 (2007) |
Footnotes / references [1] |
Approximately 75% of the company's revenues were from the sale of generic drugs, including 18% of sales which were from the sale of oral contraceptive pills.[1]
It was acquired by Teva Pharmaceutical Industries in 2008 [2] for an estimated 7.46 billion dollars.[3]
Barr Laboratories Inc. was founded in New York in 1970 by Edwin A. Cohen.[4]
Starting in 1991 Barr Laboratories was involved in a scandal stemming from their violation of GMP regulations concerning handling of out-of-specification (OOS) test results.[5] In 1993 Barr Labs lost a lawsuit stemming from these findings, resulting in new industry interpretations of FDA regulations regarding out of specification test results.[6]
In 1993, Bruce L. Downey joined the company as its president and in 1994, he became chairman and chief executive officer of the company.[7]
In 1993, the company settled a patent infringement case and began distributing a generic version of tamoxifen citrate, a treatment for breast cancer.[8]
In 1995, the company received approval to manufacture and sell a generic version of zidovudine (AZT), a treatment for AIDS.[9]
In 1996, the company became the first to receive approval from the Food and Drug Administration to market generic Warfarin, which was previously only sold by DuPont.[10]
In 2001, the company acquired Duramed Pharmaceuticals for $589 million in stock.[11]
In August 2001, after a 5-year legal battle with Eli Lilly and Company, the company began selling a generic version of Prozac.[12]
In 2003, the company acquired Endeavor Pharmaceuticals for $35 million.[13]
In 2004, the company acquired Women's Capital, maker of Plan B emergency contraceptives.[14]
In October 2006, the company acquired Pliva.[15]
On December 23, 2008, the company was acquired by Teva Pharmaceutical Industries and became part of Teva Active Pharmaceutical Ingredients (TAPI).[2]
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