PHILADELPHIA, Sept. 12 /PRNewswire/ -- United Research Laboratories/Mutual
Pharmaceutical Company today announces it is tracking to achieve a sixth
record year in sales, and expects to double its pre-tax income. Projections
based on performance through July 2005, coupled with expected new product
launches, indicate that the Company will reach sales exceeding $530 million, a
35% increase over the record sales of $385 million achieved in 2004.
Contributing to URL/Mutual's successes has been the continued success of
Felodipine 2.5mg, 5mg and 10mg ER Tablets (AB-rated to Astra-Zeneca's Plendil
ER Tablets), which the Company launched in late October 2004.
Other recent URL/Mutual launches include Clonidine 0.1mg, 0.2mg, and 0.3mg
Tablets (AB-rated to Catapres), Doxycycline Hyclate 20mg Tablets (AB-rated to
Collagenex's Periostat tablets), and Folic Acid 1mg (AA-rated to Watson's
Folic Acid).
In addition to these approvals and product launches, Mutual also received
approval for its ANDAs for Gabapentin 100mg, 300mg and 400mg Capsules (AB-
rated to Pfizer's Neurontin Capsules) and Butalbital/Acetaminophen/ and
Caffeine Tablets (AB-Rated to Fioricet).
The Company expects 9 additional product launches prior to year-end 2005,
for products whose U.S. markets total in excess of $2 billion.
16 ANDAs are currently on file at the FDA, awaiting approval, and the
Company expects to file as many as 10 additional ANDA filings by year-end 2005
and 22 ANDA filings in 2006.
In addition to its generic development program, URL/Mutual is expecting to
file 3 NDA applications prior to year-end. URL/Mutual currently holds 3
approved NDA applications for the Bactrim product family, which it acquired in
late 2004. URL/Mutual's branded affiliate, AR Scientific, launched Bactrim and
Bactrim DS tablets to the market in May of 2005, and has shown solid success.
In addition to its internal Research and Development efforts, the Company
is developing collaborations with U.S. and ex-U.S. firms who are seeking co-
development and/or Sales/Marketing/Distribution agreements with URL/Mutual.
Agreements of this nature have already been signed, and discussions are
nearing completion with several additional domestic and international pharma
companies.
Turning to other recent developments, URL/Mutual's continuing initiative
to increase production capacity to meet the growing demand of current products
and the expected demand of new approvals is nearing completion. The Company
purchased 2 additional properties, totaling 12 acres, which will allow for
expansion of its Production, QC/QA, Research and Development, and Distribution
capabilities. The $22MM capacity expansion project is nearing completion. The
Company recently completed a project to double its Analytical R&D Department
and is working to double its Formulation Department. These initiatives will
result in an increase in annual production capacity from 2.5 billion to 4.5
billion tablets and capsules and a substantial increase in the number of ANDA
and NDA filings. Additionally, the Company has five patent applications
awaiting approval and is working on multiple additional new technologies.
About United Research Laboratories/Mutual Pharmaceutical Company
United Research Laboratories/Mutual Pharmaceutical Company, a privately-
held company headquartered in Philadelphia, is engaged in the research,
development, manufacturing and commercialization of generic and branded
pharmaceutical products, and the application of innovative intellectual
property strategies to existing and future branded products. URL/Mutual
currently has 250 ANDA approvals, 4 NDA approvals, a rapidly growing pipeline
of generic and branded products, and currently manufactures 2.3 billion units
annually.
For more information, please visit http://www.urlmutual.com.
SOURCE United Research Laboratories/Mutual Pharmaceutical
Company
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Related links:
http://www.urlmutual.com
CONTACT:
William J. Sirico, +1-215-807-1045,
wsirico@urlmutual.com, of United Research Laboratories/Mutual
Pharmaceutical Company
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