Bradley to in-license phase 2, 3 drugs, implement cost-reduction program

By Elaine Rigoli

Tampa, Fla., Aug. 28 -Bradley Pharmaceuticals, Inc. said Monday that it will implement the following initiatives to enhance long-term shareholder value:

• In-license phase 2 and phase 3 drugs and develop and bring to market products with long-term intellectual property protection,

• Expand existing partnerships and joint venture relationships with biotechnology companies,

• Foster new strategic alliances that deliver a stronger product portfolio,

• Increase focus on research and development activities,

• Develop products organically with longer lifecycles and

• Extend indications for current product portfolio.

In order to strengthen the company's financial profile, Bradley said it will continue to remediate all material weaknesses previously disclosed, explore alternatives regarding existing debt and implement a cost-reduction program.

"Bradley will focus more intently on shareholder interests by better communicating with the company's shareholders through quarterly earnings conference calls and by participating in industry events, conferences and analyst conference calls," chairman and chief executive officer Daniel Glassman said in a company news release.

"These important steps underscore the company's continuing commitment to build long-term shareholder value. We believe these initiatives are in the best interests of all our shareholders."

Bradley is a specialty pharmaceutical company based in Fairfield, N.J.

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