News: Press Releases
NYCOMED US INC. ACQUIRES BRADLEY PHARMACEUTICALS, INC.
Melville, NY — February 21, 2008 —
Melville, NY — February 21, 2008 —Today, Nycomed US Inc. successfully completed the acquisition of Bradley Pharmaceuticals, Inc., a company focused on niche therapeutic markets in the United States. With this acquisition, Nycomed will expand the line of dermatological products currently offered through its PharmaDerm Division and thereby increase market coverage and drive future growth. Combined with Nycomed's Fougera Division, which is a leader in the topical prescription market in the US, total annualized sales will be $450 million, making Nycomed a leader in the dermatology market. Additionally, the combined specialty sales force now places Nycomed among the top five in sales forces selling prescription therapeutics in the US dermatology market.
Bradley's success over the years has been largely due to its strength in identifying and developing new products through life cycle management. Now, with the addition of this successful pipeline strategy, the collective sales and marketing capabilities, and the combined product offerings, Nycomed is well positioned as a leading specialty pharmaceutical player in the US dermatological market.
Nycomed also expects that the acquisition will provide an enhanced platform for in-licensing and co-promotion of dermatology products, which in turn will build revenues, optimize costs, and increase efficiency.
Nycomed has announced that the PharmaDerm headquarters will be located in Florham Park, New Jersey. The Company will be transitioning key employees from Bradley's Fairfield corporate headquarters building to Florham Park over the next several months. Nycomed anticipates that the organizations will be fully integrated by year-end.
Paul McGarty, CEO of Nycomed US, said of the merger, "We are excited about the new opportunities that the merger with Bradley Pharmaceuticals will bring to Nycomed US. The combined commercial organization will bring strength and focus to our PharmaDerm Division. We are pleased with the integration plans that have been developed, and appreciate the support of all of those at Bradley involved in the process."
This release contains certain forward-looking statements. The words "expect," "estimate," "anticipate," "predict," and similar expressions, and the negatives of such expressions, are intended to identify forward-looking statements. Although we believe that these statements are based upon reasonable assumptions, such statements involve risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
About Nycomed US
Nycomed US Inc. (formerly Altana Inc) is a subsidiary of Nycomed, which operates three divisions in the US focused on specialty pharmaceuticals in dermatology. Founded in 1849, Fougera is the largest of the three divisions and is a leading manufacturer and distributor of a wide range of multi-source topical steroids, antibiotics and antifungal products. The PharmaDerm division of Nycomed is dedicated to bringing innovative products to the dermatologists so they can best care for their patients. Nycomed US also markets and sells Savage Laboratories products, which focus on emergency care.
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