Daniel Glassman



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Daniel Glassman
CEO
Bradley Pharmaceuticals
Interviewed on 10/27/2006

Provide an overview of Bradley Pharmaceuticals:
Bradley Pharmaceuticals is a specialty pharma company located in New Jersey, where about 70% of the entire pharmaceutical industry is located. But we’re quite different than some of the big pharma companies in that we deal with the smaller physicians’ audiences and with some of the smaller products. We have two operating divisions: one is Doak Dermatologics, which is involved in dermatology and podiatry; and Kenwood Therapeutic, which is involved with gastroenterology. These two are the leading components of the company’s business, and we’re looking forward to increased sales in the future, and increased profits as well.

How is Bradley Pharmaceuticals raising awareness about skin cancer?
About two years ago, we acquired a company called Bioglan Pharmaceuticals, which was located in Pennsylvania. And they had a product called Solaraze, which was for the use of a treatment of actinic keratosis, which is a mild form of skin cancer. In learning about how to promote the product and how to bring attention to the problem with consumers, we decided on developing a situation where we would bring the screening room to the patient. So we’ve traveled around the United States, we’ve built a special van, and we take that van to special locations. We’ve been at the Los Angeles Marathon and basketball games and football games, NASCAR, we were in the Pentagon. And we’re at the New York Stock Exchange today, bringing physicians, dermatologists, to help screen the associates of the exchange. And that’s been a very, very important thing for the company, as what it does is it brings attention to the problem. And that’s supportive of the dermatologists’ own understanding of what they want to do. There’s 1.3 million people a year who are diagnosed with skin cancer; 62,000 have melanoma; and 8,000 people die a year from melanoma. Early detection, early screening, is what’s very important.

What is Bradley Pharmaceuticals’ strategy in the marketplace?
We’re involved in the smaller physician marketplaces, where a big blockbuster drug for us could certainly be $100 million, but would more likely be in the area of $30 to $60 million. And those are big product forests. And in both companies, the Kenwood Therapeutics and Doak Dermatologics, that’s what we try to accomplish is to get these products obtained in about 20% to 25% of the marketplace, and promote them by remembering that the most important thing that we can do is establish relationships with these physicians; to make sure they understand the products and their application to their practice.

What is an important business lesson you have learned?
Well, there’s been lots of lessons I’ve learned over the last three or four years; among them, making certain that the business wholesome and you’ve got new products, and you’ve got strategic plans. But you also have to make certain that you’re communicating the product benefits to both the physician, which is our consumer, as well as his patients. And you do this by a variety of different means. But you also must communicate some of the good parts and the bad parts of the business to stockholders, and you do that as frequently as possible, with as much information as you can. And those are the two most important things that we have learned over the last few years. Make sure you have a healthy business, and communicate both the good and the bad to stockholders as much as possible; and as frequently as possible.


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