Corrections or additions?
This article by Barbara Fox was prepared for the May 8, 2002
edition of U.S. 1 Newspaper. All rights reserved.
New in Town: Purdue for Pain
Purdue Pharma has a 10-year lease with an option to
buy 115,000 square feet in Cedar Brook Corporate Center, an office
and science park built by Eastern Properties on Dey Road at Route
130. Tage Honore, (pronounced Tay Honor-ray) is vice president of
discovery research at what will be the headquarters of Purdue Pharma’s
discovery research operation.
Like Carter Wallace, Purdue Pharma had its origins in an
over-the-counter
drug formulated by a 19th century doctor. In 1892 John Purdue Gray
and William Frederick began to market Gray’s Glycerine Tonic Compound.
“It did extremely well during Prohibition,” says a
spokesperson.
But whereas Carter Wallace went public, Purdue remains private. It
was bought by the Sackler family (known for its art philanthropy)
for $50,000 in 1952. Now the company is based in Stamford,
Connecticut,
and has 3,000 employees. It focuses on pharmaceuticals, such pain
relief therapies as OxyContin, and over-the-counter products such
as Senokot tablets for constipation and Betadyne antiseptic.
The company is owned by Purdue Pharma L.P., which handles research
and development, as well as sales, distribution, and licensing for
prescription drugs, over the counter medicines and hospital products.
Dan Lawler heads human resources in Cranbury, and John Migneco is
in charge of facilities.
Purdue’s OxyContin went over the $1 billion annual sales level in
36 months. Its competitor, Pfizer’s Celebrex, attained that rate in
10 months. Sales of drugs related to pain management are projected
to grow by as much as 20 percent each year for the foreseeable future.
Purdue Pharma LP, Cedar Brook Corporate Center,08540. Tage Honore, vice president. 609-509-5790; fax, 609-409-5799.Www.purduepharma.comPrevious StoryNext StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
