Barr History
Founded
in 1970 in New York, Barr Laboratories, Inc. was one of the
first generic pharmaceutical companies in the United States.
In 1972, the Company launched its first generic product and
was one of the earliest producers of antibiotic products. However,
the growth of the Company, and the generic pharmaceutical industry
as it is known today, did not begin in earnest until more than
a decade later.
The milestone
that is acknowledged as the start of the modern generic pharmaceutical
industry was the Drug Price Competition and Patent Restoration
Act in 1984. This law, often called the Hatch-Waxman Act, opened
the floodgates for generic competition for pharmaceutical products,
creating the modern generic pharmaceutical industry. Hatch-Waxman
established the criteria which has become the foundation of
generic product approval.
Following
the approval of Hatch-Waxman, Barr and other members of the
generic pharmaceutical industry experienced significant and
rapid growth in both the number of products offered and the
market share captured by these products.
In the
mid-1990s, Barr's management refocused development, manufacturing
and marketing on distinctive products in five core therapeutic
categories: female healthcare therapies (including oral contraceptives
and hormone therapy products), cancer treatments, treatments
for heart disease, anti-infectives, and psychotherapeutics.
Today, the Company manufactures and markets both generic and
proprietary pharmaceutical products in these categories and
is the leader in oral contraceptives.
In January
2004, the Company was reincorporated in Delaware as Barr Pharmaceuticals,
Inc. Barr Laboratories, Duramed Research, Inc. and Duramed Pharmacueticals,
Inc. were established as subsidiaries of Barr Pharmaceuticals.
The action enabled the company to take full advantage of Delaware
corporate law and created a corporate structure more optimally
aligned for future growth.
In 2004,
the Company ranked
sixth among the top 10 independent companies in the $11 billion
generic pharmaceutical business.