SAN ANTONIO, Aug. 30 Mission Pharmacal, the privately heldspecialty pharmaceutical company that researched and commercializedCitracal(R) calcium citrate supplements, then turned them into a $54 millionOTC healthcare product line, has sold the worldwide marketing rights to thebrand to Bayer HealthCare. The transaction will be completed during the fourthquarter of 2007. Mission Pharmacal will continue to manufacture Citracal(R)for Bayer. Bayer believes further opportunity may also come by extending theCitracal(R) brands' presence into other parts of the world.
"This sale marks one of the most important milestones in our 60-yearhistory," said Mission Pharmacal President Neill B. Walsdorf, Jr. "Itprovides us with a unique opportunity to re-invest in the company and buildour future as an important specialty pharmaceutical company based on theoutstanding success of the Citracal(R) brand."
Mission Pharmacal will develop additional manufacturing agreements for itsstate-of-the-art facilities in Boerne and San Antonio, Texas. Tindamax(R),the first new oral therapy for the treatment of bacterial vaginosis (BV) in adecade, received FDA approval for that indication in May. "We will increaseour focus on research, development and marketing specialty pharmaceuticalproducts such as CitraNatal(TM) Prenatal Vitamins, Tindamax(R), Thera-Gesic(R)and Urocit(R)-K," said Walsdorf.
Mission Pharmacal was founded in 1946 by H.N. Walsdorf, the grandfather ofthe current President and father of the current chairman and CEO, Neill B.Walsdorf, Sr. "The Walsdorf family is extremely proud of the contribution tothe healthcare of millions of people that Mission Pharmacal has made bycreating and marketing Citracal(R). We certainly want to acknowledge thevital role played by our dedicated employees," said Walsdorf Sr.
About Mission Pharmacal Company
Mission Pharmacal Company is a family-owned pharmaceutical company basedin San Antonio, Texas. For sixty years, the company has been dedicated toidentifying unmet health needs in the marketplace and developing innovativeprescription and over-the-counter products to meet them. Currently, MissionPharmacal Company provides physicians and consumers with pharmaceutical,nutritional and diagnostic products.
SOURCE Mission Pharmacal