Bradley Pharmaceuticals, Inc.

Pharma firm that acquires non-strategic brands reports on $110M credit facility

Published in Physician Law Weekly, February 8th, 2006

Bradley Pharmaceuticals, Inc., (BDY) as anticipated, has received a notice of default from the administrative agent under the company's $110 million amended and restated credit agreement.

Such notice advised the company that an event of default exists as a result of the company's failure to furnish, by December 31, 2005, audited financial statements for the year ended December 31, 2004 and that amounts owing under the credit agreement would bear interest from January 1, 2006, payable on demand, at a per annum rate two% (2%) greater than the rate which would otherwise be applicable until such time as the event of default is waived or the requisite lenders decide (in...

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Source: Physician Law Weekly (2006-02-08)

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