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.com


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