| Fairfeild, NJ-April 5,
2000-Bradley Pharmaceuticals, Inc. (NASDAQ: BPRX) today announced
the initiation of intent between Pediatric Pharmaceuticals,
Inc., and Bradley Pharmaceuticals, Inc., in the formation of a
joint venture to be know as BPPharma, Inc. The new
organization will jointly review opportunities to treat topic
diseases and topical manifestations of metabolic diseases,
through opportunities available under orphan drug
designations, BPPharma, Inc. will utilize Bradley's
existing sales marketing and technical infrastructure combined
with Pediatrics' experience bringing new drugs to market.
Pediatric Pharmaceuticals recently received approval from the
FDA to launch CAFCIT with Roxanne Laboratories, a division of
Boehringer Ingleheim.
The joint venture will seek funding
from available sources in government and other organizations
or individuals that seek to invest in development projects
that have pharmacological implications in narrow band
indications.
Bradley Pharmaceuticals Inc., President
and CEO, Daniel Glassman, stated, "We are very excited to move
forward on this project very quickly, subject to culmination
of due diligence, finalization of contracts, and receiving
appropriate Board of Directors' authorizations. The sales and
marketing strength of Bradley, combined with Pediatrics'
knowledge and expertise in New Drug Applications, in
particular, orphan drugs, will put BPPharma Inc. in an
extraordinary position to capture significant market share in
highly specialized areas of dermatological skincare
therapies." Pediatric Pharmaceuticals, Inc., President Robert
C. Stites, stated, "Pediatric has aligned itself with a sales
and marketing organization which will allow it to penetrate
niche markets in a big way. The size of Bradley's sales force
will guarantee coverage of BPPharma's brands, when
approved, to every high-potential specialist in the
country.
The initial management of BPPharma
will be compromised of a staff selected by Bradley and
Pediatric, with both Robert Stites and Daniel Glassman
dedicating a major portion of their available time during the
formative stages of BPPharma. Finalization of the
contract is expected to occur prior to may 1, 2000. Approved
products available fro this joint venture, when established,
could be marketed within 30 months.
Bradley
Pharmaceuticals, Inc. markets
brand name prescription and over-the-counter pharmaceutical
and health-related products throughout the United States as
well as in 31 international markets. Bradley common shares
(BPRX) are traded on the NASDAQ National Market
System.
Visit Bradley
Pharmaceuticals at www.bradpharm.com
|
