Barr Pharmaceuticals

Last updated
Barr Pharmaceuticals, Inc.
Industry Pharmaceutical industry
Founded1970;54 years ago (1970)
DefunctDecember 23, 2008;15 years ago (December 23, 2008)
FateAcquired by Teva Pharmaceutical Industries
Headquarters Montvale, New Jersey
Key people
Bruce L. Downey, Chairman & CEO
William T. McKee, CFO
Products Generic drugs
RevenueIncrease2.svg $2.500 billion (2007)
Increase2.svg $0.128 billion (2007)
Total assets Decrease2.svg $4.761 billion (2007)
Total equity Increase2.svg $1.866 billion (2007)
Number of employees
8,900 (2007)
Footnotes /references
[1]

Barr Pharmaceuticals was a global specialty and generic drug manufacturer with operations in 30 countries.

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 ($10.6 billion in 2023). [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]

Related Research Articles

An epinephrine autoinjector is a medical device for injecting a measured dose or doses of epinephrine (adrenaline) by means of autoinjector technology. It is most often used for the treatment of anaphylaxis. The first epinephrine autoinjector was brought to market in 1983.

Ranbaxy Laboratories Limited was an Indian multinational pharmaceutical company that was incorporated in India in 1961 and remained an entity until 2014. The company went public in 1973. Ownership of Ranbaxy changed twice over the course of its history.

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Green Oaks, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products. It split off its research-based pharmaceuticals business into AbbVie in 2013.

Bruce Downey is the former chairman and CEO of Barr Pharmaceuticals and in 2009 became a partner at New Spring Capital, a venture capital firm.

Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company based in Hyderabad. The company was founded by Kallam Anji Reddy, who previously worked in the mentor institute Indian Drugs and Pharmaceuticals Limited. Dr. Reddy manufactures and markets a wide range of pharmaceuticals in India and overseas. The company produces over 190 medications, 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology.

Amidrine, Midrin, Nodolor, Duradrin, IDA, Migquin, Migrin-A, Migrazone or Epidrine is a combination drug consisting of paracetamol, dichloralphenazone and isometheptene used to treat migraines and severe, refractory headaches.

Extended or continuous cycle combined oral contraceptive pills are a packaging of combined oral contraceptive pills (COCPs) that reduce or eliminate the withdrawal bleeding that would occur once every 28 days in traditionally packaged COCPs. It works by reducing the frequency of the pill-free or placebo days. Extended cycle use of COCPs may also be called menstrual suppression, although other hormonal medications or medication delivery systems may also be used to suppress menses. Any brand of combined oral contraceptive pills can be used in an extended or continuous manner by simply discarding the placebo pills; this is most commonly done with monophasic pills in which all of the pills in a package contain the same fixed dosing of a synthetic estrogen and a progestin in each active pill.

Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal executive offices in Hatfield, Hertfordshire, UK and a "Global Center" in Canonsburg, Pennsylvania, US.

<span class="mw-page-title-main">Pliva</span> Croatian pharmaceutical company

Pliva d.o.o. is a pharmaceutical company based in Zagreb, Croatia that primarily manufactures and sells generic drugs. It is a subsidiary of Teva Pharmaceuticals.

<span class="mw-page-title-main">Hospira</span> American pharmaceutical company

Hospira was an American global pharmaceutical and medical device company with headquarters in Lake Forest, Illinois. It had approximately 19,000 employees. Before its acquisition by Pfizer, Hospira was the world's largest producer of generic injectable pharmaceuticals, manufacturing generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management systems. Hospira's products are used by hospitals and alternate site providers, such as clinics, home healthcare providers and long-term care facilities. It was formerly the hospital products division of Abbott Laboratories. On September 3, 2015, Hospira was acquired by Pfizer, who subsequently sold off the medical devices portion of Hospira to ICU Medical.

<span class="mw-page-title-main">Teva Pharmaceuticals</span> Israeli pharmaceutical company

Teva Pharmaceutical Industries Ltd. is an Israeli multinational pharmaceutical company. Teva specializes primarily in generic drugs, but other business interests include branded-drugs, active pharmaceutical ingredients (API's) and, to a lesser extent, contract manufacturing services and an out-licensing platform.

<span class="mw-page-title-main">Actavis</span> Global pharmaceutical company

Actavis Generics is a global pharmaceutical company focused on acquiring, developing, manufacturing and marketing branded pharmaceuticals, generic and over-the-counter medicines, and biologic products. Actavis has a commercial presence across approximately 100 countries. The company has global headquarters in Dublin, Ireland and administrative headquarters in Parsippany-Troy Hills, New Jersey, United States.

Endo International plc is an American Irish-domiciled generics and specialty branded pharmaceutical company that generated over 93% of its 2017 sales from the U.S. healthcare system. While Endo's management, operations, and customers are almost exclusively U.S.–based, in 2013 Endo executed a corporate tax inversion to Ireland to avoid U.S. corporate taxes on their U.S. drug sales, and to avail of Ireland's corporate tax system.

<span class="mw-page-title-main">Obetrol</span> Diet pill

Obetrol was the brand name of a drug combining several amphetamine salts indicated for the treatment of exogenous obesity. It was originally sold by the American company Obetrol Pharmaceuticals. Obetrol was a popular diet pill in America in the 1950s and 1960s.

Harold Snyder was an American businessperson who started Biocraft Laboratories, one of the earliest manufacturers of generic drugs.

The Today sponge is a brand of plastic contraceptive sponge saturated with a spermicide nonoxynol-9 to prevent conception. While initially popular in the 1980s in the United States, it is no longer commercially available as of 2019.

<span class="mw-page-title-main">Hydrocodone/ibuprofen</span> Combination drug

Hydrocodone/ibuprofen (INNs), sold under the brand name Vicoprofen, is a fixed-dose combination analgesic medication used in short-term therapy to relieve severe pain. Vicoprofen combines the analgesic and antitussive properties of hydrocodone with the analgesic, anti-inflammatory, and antipyretic properties of ibuprofen. In contrast to hydrocodone/acetaminophen combination analgesics such as Vicodin, this hydrocodone/ibuprofen avoids some of the liver toxicity which may occur from acetaminophen, but still presents significant dangers in hydrocodone overdose, namely respiratory depression. Vicoprofen is supplied in a fixed dose combination tablet which contains hydrocodone bitartrate, USP 7.5 mg with ibuprofen, USP 200 mg. Additional strengths of generic Vicoprofen are now available, in combinations of 5 mg/200 mg and 10 mg/200 mg respectively.

Teva API is an international pharmaceutical company headquartered in Israel. Teva API is a stand-alone business unit of Teva Pharmaceutical Industries limited, the largest generic drug manufacturer in the world and one of the 15 largest pharmaceutical companies worldwide.

<span class="mw-page-title-main">Intas Pharmaceuticals</span> Indian multinational pharmaceutical company

Intas Pharmaceuticals Limited is an Indian multinational pharmaceutical company headquartered in Ahmedabad. It is a producer of generic therapeutic drugs and engaged in contract clinical research and manufacturing. It has 22 manufacturing plants, 17 in India and the rest in Greece, United Kingdom and Mexico. In the financial year 2019, 69% of the company's revenue came from international markets while 31% came from India. It's market presence is more than 100+ countries.

Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. The company is the maker of Botox.

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 | JPost.com. 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. News, Bloomberg (3 October 2003). "Company News; Barr Labs Agrees to Buy Assets of Women's Capital". The New York Times.{{cite news}}: |last1= has generic name (help)
  15. "Barr Acquires PLIVA d.d." (Press release). Pliva. October 12, 2006.