BOSTON, Oct. 3 /PRNewswire/ -- Today, John S. Ross and Douglas E. Linton, two nominees for the Board of Directors of Bradley Pharmaceuticals, Inc. (NYSE: BDY), sent the following open letter to the incumbent Board members setting the record straight on their qualifications to be productive members of the Board.
October 3, 2006
Bradley Pharmaceuticals, Inc.
Attention: Board of Directors
Dear Members of the Board of Directors,
As you know, Costa Brava Partnership III L.P. ("Costa Brava") nominated us to stand for election to the Board of Directors of Bradley Pharmaceuticals, Inc. ("Bradley" or the "Company"). We have agreed to do so because we believe that we can make a valuable contribution to the Company and work constructively with the Board to help create shareholder value. Unfortunately, the comments about our qualifications in your open letter to shareholders of September 27, 2006 was full of inaccuracies and mischaracterizations. This letter sets the record straight.
John Ross.
Mr. Ross has more than ten years experience servicing the pharmaceutical
industry. He was a co-founder and director of MetaWorks, Inc., which was
hired by nearly every major pharmaceutical company to complete data
projects in support of FDA, marketing and communication strategy
decisions. These projects included NDA approvals, label extensions,
efficacy claim support, R&D go/no go assessments, and publication
strategies.
As one of the founders of MetaWorks, Mr. Ross took on many
responsibilities. He marketed to the major pharmaceutical companies and
was an active participant in formulating client projects. Mr. Ross's
positions at MetaWorks required him to have a thorough understanding of
pharmaceutical company clients' business needs, and work with the
MetaWorks scientific team to ensure effective, unbiased project outcomes.
Mr. Ross worked at Cellcor Therapies, Inc., an autologous, living cell
biotech company focused on an autologous cell therapy for renal cell
cancer, before it was sold to Cytogen Corporation (Nasdaq: CYTO). At
Cellcor, Mr. Ross held multiple positions during the treatment
development stage. One of these roles was Clinical Center management,
which brought together the clinic, production laboratory and sales force
for Cellcor's first commercial treatment center. To accomplish this, Mr.
Ross contributed to crafting the marketing strategy and implementation of
the plan through to field sales to attract referring doctors and patient
referrals.
Aside from his pharmaceutical and biotechnology marketing experience, Mr.
Ross also holds investments in multiple business ventures, one of which
concentrates on the painting and renovation of large scale multi-unit
residential complexes throughout New England. For the past eleven years,
this business has been managed by its president, not Mr. Ross.
Since 1987, Mr. Ross and Mr. Seth Hamot have not had any direct or
indirect business relationship with each other.
Doug Linton.
Mr. Linton's pharmaceutical experience will be valuable to Bradley. Mr.
Linton counts 13 pharmaceutical manufacturers as former or current
consulting clients. Of these clients, at least four are pharmaceutical
clients with worldwide sales in excess of $1 billion, and one has sales
in excess of $5 billion.
Mr. Linton is considered by many to be a leader in the area of drug
distribution. Mr. Linton's success as a consultant is a testimony to his
leading-edge understanding of this field. While Mr. Linton's full time
employment at Cardinal Health ended 11 years ago, his consulting
relationship with Cardinal Health through July 2005 was in the newest and
most sensitive area in pharmaceutical distribution -- Distribution
Service Agreements (DSAs). Mr. Linton's work was reviewed and used by
senior management within the Cardinal Health Pharmaceutical Distribution
business unit.
While at Cardinal Heath, Mr. Linton started three profitable businesses,
two of which were a "first" for drug wholesales. He also developed the
purchasing area into a high margin-generating department. Mr. Linton was
instrumental in moving Cardinal Health from a regional player to a very
profitable national player.
Mr. Linton possesses strong quantitative skills, which he utilized during
his deep involvement with operational interpretation and strategy at drug
wholesalers in such technical financial areas as LIFO and margin reserve
accounting. He has also advised manufacturer clients on policies to
minimize returns.
Mr. Linton has a track record for pursuing excellence in the
pharmaceutical industry, and this track record would continue in his role
as a director of Bradley.
In short, we know the pharmaceutical industry and are confident that our varied experiences and successes will make a positive contribution to Bradley's sales and profit growth. We look forward to working with other Bradley directors for the success of the Company.
Yours truly,
John Ross and Doug Linton
Nominees for election to the Board of Directors of Bradley Pharmaceuticals, Inc.
CERTAIN INFORMATION ABOUT THE PARTICIPANTS
COSTA BRAVA PARTNERSHIP III L.P., ROARK, REARDEN & HAMOT, LLC, ROARK, REARDEN & HAMOT CAPITAL MANAGEMENT, LLC, SETH W. HAMOT, DOUGLAS E. LINTON AND JOHN S. ROSS (COLLECTIVELY, THE "PARTICIPANTS") FILED A DEFINITIVE PROXY STATEMENT AND ACCOMPANYING FORM OF PROXY WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION ("SEC") ON SEPTEMBER 29, 2006, TO BE USED TO SOLICIT VOTES FOR THE ELECTION OF ITS SLATE OF DIRECTOR NOMINEES AND CERTAIN BUSINESS PROPOSALS FOR USE AT THE 2006 ANNUAL MEETING OF SHAREHOLDERS OF BRADLEY PHARMACEUTICALS, INC. INFORMATION RELATING TO THE PARTICIPANTS IS SET FORTH IN THE DEFINITIVE PROXY STATEMENT FILED WITH THE SEC.
STOCKHOLDERS ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION.
THE DEFINITIVE PROXY STATEMENT, FORM OF PROXY AND OTHER PROXY MATERIALS ARE AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE AT HTTP://WWW.SEC.GOV.
SOURCE Costa Brava