SAN ANTONIO, Aug. 30 /PRNewswire/ -- Mission Pharmacal, the privately held specialty pharmaceutical company that researched and commercialized Citracal(R) 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(R) for Bayer. Bayer believes further opportunity may also come by extending the Citracal(R) 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(R) brand."
Mission Pharmacal will develop additional manufacturing agreements for its state-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 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 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 of the current President and father of the current chairman and CEO, Neill B. Walsdorf, Sr. "The Walsdorf family is extremely proud of the contribution to the healthcare of millions of people that Mission Pharmacal has made by creating and marketing Citracal(R). We certainly want to acknowledge the vital role played by our dedicated employees," said Walsdorf Sr.
About Mission Pharmacal Company
Mission Pharmacal Company is a family-owned pharmaceutical company based in San Antonio, Texas. For sixty years, the company has been dedicated to identifying unmet health needs in the marketplace and developing innovative prescription and over-the-counter products to meet them. Currently, Mission Pharmacal Company provides physicians and consumers with pharmaceutical, nutritional and diagnostic products.
Mission Pharmacal
