 | |
| Industry | Pharmaceutical industry |
|---|---|
| Founded | 1970; 54 years ago (1970) |
| Defunct | December 23, 2008; 15 years ago (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) |
| Net income | $0.128 billion (2007) |
| Total assets |  $4.761 billion (2007) |
| Total equity | $1.866 billion (2007) |
| Number of employees | 8,900 (2007) |
| Footnotes / references | |
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.
It was acquired by Teva Pharmaceutical Industries in 2008 for an estimated $7.46 billion ($10.6 billion in 2023).
History
Barr Laboratories Inc. was founded in New York in 1970 by Edwin A. Cohen.
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. 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.
In 1993, Bruce L. Downey joined the company as its president and in 1994, he became chairman and chief executive officer of the company.
In 1993, the company settled a patent infringement case and began distributing a generic version of tamoxifen citrate, a treatment for breast cancer.
In 1995, the company received approval to manufacture and sell a generic version of zidovudine (AZT), a treatment for AIDS.
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.
In 2001, the company acquired Duramed Pharmaceuticals for $589 million in stock.
In August 2001, after a 5-year legal battle with Eli Lilly and Company, the company began selling a generic version of Prozac.
In 2003, the company acquired Endeavor Pharmaceuticals for $35 million.
In 2004, the company acquired Women's Capital, maker of Plan B emergency contraceptives.
In October 2006, the company acquired Pliva.
On December 23, 2008, the company was acquired by Teva Pharmaceutical Industries and became part of Teva Active Pharmaceutical Ingredients (TAPI).
References
- ^ "Barr Pharmaceuticals, Inc. 2007 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "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.
- 1970 establishments in New York (state)
- 2008 mergers and acquisitions
- American companies established in 1970
- Pharmaceutical companies established in 1970
- Pharmaceutical companies disestablished in 2008
- 2008 disestablishments in New Jersey
- Pharmaceutical companies based in New Jersey
- Defunct pharmaceutical companies of the United States