Barr Pharmaceuticals

Last updated
Barr Pharmaceuticals, Inc.
Industry Pharmaceutical industry
Founded1970;55 years ago (1970)
DefunctDecember 23, 2008;16 years ago (2008-12-23)
FateAcquired by Teva Pharmaceutical Industries
Successor Teva Active Pharmaceutical Ingredients
Headquarters
Montvale, New Jersey
,
United States
Area served
Worldwide
Key people
Bruce L. Downey, Chairman & CEO
William T. McKee, CFO
Products Generic drugs
Number of employees
8,900 (2007)
Footnotes /references
[1]

Barr Pharmaceuticals was an American specialty and generic drug manufacturer with operations in 30 countries. Approximately 75% of the company's revenues came 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 ($10.9 billion in 2024). [3]

History

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]

References

  1. 1 2 "Barr Pharmaceuticals, Inc. 2007 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 "TEVA COMPLETES ACQUISITION OF BARR" (Press release). Pliva. December 23, 2008. Archived from the original on April 20, 2017. Retrieved March 2, 2018.
  3. ↑ "Teva buys Barr Pharmaceuticals". The Jerusalem Post . ISSN   0792-822X . Retrieved 2018-11-18.
  4. ↑ "Barr Pharmaceuticals, Inc. History". FundingUniverse. Retrieved June 25, 2018.
  5. ↑ "BARR LABS SHUTDOWN SOUGHT BY FDA DUE TO GMP VIOLATIONS UNCOVERED DURING AGENCY INSPECTIONS; FIRM CLAIMS FDA STANCE IS RETALIATION FOR WHISTLEBLOWING". PinkSheet. Retrieved April 8, 2019.
  6. ↑ Kuwahara, Steven (November 2007). "A History of the OOS Problem". Biopharm International. BioPharm International-11-01-2007. 20 (11): 40–45. Retrieved April 8, 2019.
  7. ↑ "Former Barr CEO Downey joins NewSpring Capital". American City Business Journals . March 11, 2009.
  8. ↑ "PATENT SETTLEMENT LIFTS BARR LABORATORIES SHARES". The New York Times . March 9, 1993.
  9. ↑ "BARR LABORATORIES WINS F.D.A. APPROVAL FOR GENERIC AZT". The New York Times . February 28, 1995.
  10. ↑ FOSS, KRISTA (October 26, 2001). "BITTER PILL". The Globe and Mail .
  11. ↑ "Barr to Buy Duramed in a Stock Swap". Los Angeles Times . Reuters. June 30, 2001.
  12. ↑ PETERSEN, MELODY (August 2, 2001). "Drug Maker Is Set to Ship Generic Prozac". The New York Times .
  13. ↑ "COMPANY BRIEFS". The New York Times . December 4, 2003.
  14. ↑ "Company News; Barr Labs Agrees to Buy Assets of Women's Capital". The New York Times. Bloomberg. 3 October 2003.
  15. ↑ "Barr Acquires PLIVA d.d." (Press release). Pliva. October 12, 2006.
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