Healthcare Industry News: Doak
News Release - May 13, 2008
Medimetriks Pharmaceuticals, Inc. Begins Operations
Bradley Pharmaceuticals Founder and Senior Management Form Company Specializing in Dermatology and Podiatry MarketsFAIRFIELD, N.J., May 13 (HSMN NewsFeed) -- Medimetriks Pharmaceuticals, Inc. announced today that it commenced operations. The newly-formed Company, led by the founder and the key Senior Management Team of the former Bradley Pharmaceuticals (NYSE: BDY ), will develop, license and commercialize innovative prescription products for the Dermatology and Podiatry marketplaces. The Company is aggressively pursuing licensing opportunities, company and product acquisitions and initiating the development of a series of brands that will fill unmet needs in the marketplace. Medimetriks' objective is to build a robust product portfolio and become a leading Dermatology and Podiatry specialty company.
Bradley Pharmaceuticals was acquired earlier this year by Nycomed for approximately $350MM. Bradley's Doak Dermatologics Division, which represented approximately 80% of Bradley's revenue, was a leading dermatology company and the largest independent pharmaceutical marketer to the podiatry specialty. Bradley Glassman, the former Senior Vice President of Sales and Marketing for Bradley, will serve as President and CEO of Medimetriks Pharmaceuticals, Brent Lenczycki as Chief Financial Officer and Alan Goldstein as Executive Vice President, Business Development. Daniel Glassman, the former President and CEO of Bradley, will serve as Medimetriks' Chairman of the Board.
"We have an experienced management team that was an important part of Bradley's success," stated Daniel Glassman. "We also have added a strong support team that will allow Medimetriks to achieve both short and long term success. Medimetriks' talented staff demonstrates a tremendous ability to execute with discipline and shares a commitment to creating a meaningful Company that will enhance patient care."
Bradley Glassman said, "We will leverage our core expertise of identifying and delivering important and effective brands in the therapeutic markets that we know so well. In building the Bradley business, we developed long-standing relationships with leading physicians in both the Dermatology and Podiatry specialties. We look forward to working with these physicians and building brands that serve the interests of both their practices and their patients."
The Company is located at 363 Route 46 West, Suite 106, Fairfield, NJ 07004-2402. Please visit the Medimetriks website at www.medimetriks.com .
Source: Medimetriks Pharmaceuticals
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