Mission Pharmacal Sells Citracal® Calcium Brand to Bayer HealthCare Plans Exciting Future as Specialty Pharmaceutical Company
SAN ANTONIO, TX (August 30, 2007) – Mission Pharmacal, the privately held specialty pharmaceutical company that researched and commercialized Citracal® calcium citrate supplements, then turned them into a $54 million OTC healthcare product line, has sold the worldwide marketing rights to the brand to Bayer HealthCare. The transaction will be completed during the fourth quarter of 2007. Mission Pharmacal will continue to manufacture Citracal® for Bayer. Bayer believes further opportunity may also come by extending the Citracal® brands’ presence into other parts of the world.
"This sale marks one of the most important milestones in our 60-year history," said Mission Pharmacal President Neill B. Walsdorf, Jr. "It provides us with a unique opportunity to re-invest in the company and build our future as an important specialty pharmaceutical company based on the outstanding success of the Citracal® brand."
Mission Pharmacal will develop additional manufacturing agreements for its state-of-the-art facilities in Boerne and San Antonio, Texas. Tindamax®, the first new oral therapy for the treatment of bacterial vaginosis (BV) in a decade, received FDA approval for that indication in May. "We will increase our focus on research, development and marketing specialty pharmaceutical products such as CitraNatalTM Prenatal Vitamins, Tindamax®, Thera-Gesic® and Urocit®-K," said Walsdorf.
Now approved for the treatment of bacterial vaginosis, the most common vaginal infection among women of childbearing age in the United States.
