| Barr Pharmaceuticals, Inc. | |
| Fate: | Acquired by Teva Pharmaceutical Industries |
| Industry: | Pharmaceutical industry |
| Location: | 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) |
| Assets: | $4.761 billion (2007) |
| Equity: | $1.866 billion (2007) |
| Num Employees: | 8,900 (2007) |
| Footnotes: | [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 for an estimated $7.46 billion .[2]
Barr Laboratories Inc. was founded in New York in 1970 by Edwin A. Cohen.[3]
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.[4] 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.[5]
In 1993, Bruce L. Downey joined the company as its president and in 1994, he became chairman and chief executive officer of the company.[6]
In 1993, the company settled a patent infringement case and began distributing a generic version of tamoxifen citrate, a treatment for breast cancer.[7]
In 1995, the company received approval to manufacture and sell a generic version of zidovudine (AZT), a treatment for AIDS.[8]
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.[9]
In 2001, the company acquired Duramed Pharmaceuticals for $589 million in stock.[10]
In August 2001, after a 5-year legal battle with Eli Lilly and Company, the company began selling a generic version of Prozac.[11]
In 2003, the company acquired Endeavor Pharmaceuticals for $35 million.[12]
In 2004, the company acquired Women's Capital, maker of Plan B emergency contraceptives.[13]
In October 2006, the company acquired Pliva.[14]
On December 23, 2008, the company was acquired by Teva Pharmaceutical Industries and became part of Teva Active Pharmaceutical Ingredients (TAPI).[15]