Minneapolis, (763) 473-4412 Upsher-Smith Laboratories plans on more than doubling its annual sales by the end of 2004. Acquisitions such as that of Rosemont Pharmaceutical Corp. two years ago will be just one piece of the puzzle in getting it to an annual sales level of $250 million.
Upsher-Smith hopes to hit those sales goals through strategic acquisitions and partnerships that will diversify the generic drug company's product portfolio. Since its acquisition of Rosemont, a Denverbased generic manufacturer with annual sales approaching $15 million, Upsher-smith has signed a $10 million licensing agreement to market Unigene Laboratories' patented nasal formulation of calcitonin for the treatment of osteoporosis in the United States.
Upsher-Smith also signed a licensing agreement for worldwide marketing rights of Novactyl's PCL-01 6 and FSR-488 formulations, two anti-viral agents currently being evaluated for the treatment of cold sores and genital herpes. PCL-016 was scheduled to enter Phase II human efficacy studies late last year.
The company currently markets six generic formulations under its Upsher-Smith brand name, including branded generic Pacerone (Amiodarone HCI) for treatment of recurrent life-threatening ventricular arrhythmias and Klor-Con, a branded prescriptiononly potassium chloride tablet.
COPYRIGHT 2003 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2003 Gale Group