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 ($10.6 billion in 2023).[3]
History
editBarr 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
edit- ^ a b "Barr Pharmaceuticals, Inc. 2007 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ a b "TEVA COMPLETES ACQUISITION OF BARR" (Press release). Pliva. December 23, 2008. Archived from the original on April 20, 2017. Retrieved March 2, 2018.
- ^ "Teva buys Barr Pharmaceuticals". The Jerusalem Post | JPost.com. Retrieved 2018-11-18.
- ^ "Barr Pharmaceuticals, Inc. History". FundingUniverse. Retrieved June 25, 2018.
- ^ "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.
- ^ 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.
- ^ "Former Barr CEO Downey joins NewSpring Capital". American City Business Journals. March 11, 2009.
- ^ "PATENT SETTLEMENT LIFTS BARR LABORATORIES SHARES". The New York Times. March 9, 1993.
- ^ "BARR LABORATORIES WINS F.D.A. APPROVAL FOR GENERIC AZT". The New York Times. February 28, 1995.
- ^ FOSS, KRISTA (October 26, 2001). "BITTER PILL". The Globe and Mail.
- ^ "Barr to Buy Duramed in a Stock Swap". Los Angeles Times. Reuters. June 30, 2001.
- ^ PETERSEN, MELODY (August 2, 2001). "Drug Maker Is Set to Ship Generic Prozac". The New York Times.
- ^ "COMPANY BRIEFS". The New York Times. December 4, 2003.
- ^ 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) - ^ "Barr Acquires PLIVA d.d." (Press release). Pliva. October 12, 2006.