Alpharma says cash slated for possible share repurchases, growth opportunities

By Jennifer Lanning Drey

Portland, Ore., June 25 - Alpharma Inc. has more than $600 million of cash on its balance sheet, which the company plans to apply toward share repurchases and business development opportunities in both its pharmaceuticals and animal health businesses, Jack Howarth, Alpharma's president of investor relations, said during a Wednesday presentation at the Jefferies Healthcare Conference in New York.

Alpharma is looking for opportunities to acquire both products and companies, Howarth said.

On the pharmaceuticals side, Alpharma is interested in growing its position in pain management but would also consider complimentary therapeutic areas where opportunities may be available, he said.

In its animal health business, Alpharma's strategy looks to increase penetration in developing markets such as Asia Pacific and Latin America. The company is also looking to enhance its current product lines with complimentary products.

Alpharma is a Bridgewater, N.J.-based specialty pharmaceutical and animal health company.

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