Barr Pharmaceuticals, Inc.
Posted on July 25, 2008
Filed Under Uncategorized |
Barr Pharmaceuticals, Inc. was previously named as Barr Laboratories, Inc. This company was founded in 1970 in New York as has been considered as one of the first ever generic pharmaceutical producers in the United States. It was in 1972 that the Barr Pharmaceuticals, Inc. introduced its first ever generic product as well as generic antibiotic but the growth of this company would only begin ten years later.
It was through the 1984 Drug Price Competition and Patent Restoration Act or more widely known as the Hatch-Waxman Act that would start the current U.S. Generic Pharmaceutical Industry. Not only did this new Act started the business of generic medicines this also opened the way for competition among generic pharmaceutical products that made the generic pharmaceutical industry of today. It was also the Hatch-Waxman that created the criteria which will become the foundation or basis of generic product approval.
After the approval of the Hatch-Waxman Act, several pharmaceutical companies engaged in production of generic medicines rapidly expanded specifically in the quantity of the product as well as the market share. By 1995, Barr management concentrated on the development, production and selling of distinctive products that were classified in five different categories namely: cancer treatments, heart disease treatment, female healthcare therapies, psychotherapeutics and lastly, anti-infectives.
At this point, Barr Pharmaceutical is manufacturing and marketing both branded and generic medications. This company is also thought of as one of the leaders in the production of oral contraceptives particularly in the U.S.
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