Blansett Pharmacal Inc.

When Blansett Pharmacal began doing business in September 1982, founder Larry Blansett was president and sole salesperson. The company had only one other employee, a secretary who also did the shipping from the firm’s 1,500-SF office space in North Little Rock.

That year sales totaled less than $100,000.

Today, Blansett Pharmacal has grown to 150 employees, and in 2002, it enjoyed a net income of $1.6 million on sales of more than $10 million.

Larry Blansett expects the growth trend to continue throughout 2003, with at least a 35 percent increase in sales.

The company produces and markets prescription pharmaceuticals under the Blansett brand and also licenses and markets several products manufactured by other companies.

Its products concentrate on specific therapeutic areas, such as cough and cold, swimmer’s ear and analgesics. Currently, the FDA is reviewing one of the company’s new products for tension headaches.

“We have selected therapeutic areas that we know well and do well in the market,” Blansett said.

Blansett’s main product development strategy is to reformulate existing pharmaceutical products to improve safety, efficacy and patient compliance. This strategy reduces regulatory risks, Blansett said.

Business is generated by more than 30,000 physicians in four primary specialties across the United States. Blansett employs sales representatives in 46 states.

Unlike many businesses, the overall economy traditionally has a mild effect on the pharmaceutical industry. “We’ve been shielded from downturns because the demand for medicine is always there,” Blansett said.

The company just completed an expansion project in its offices and warehouse space in North Little Rock’s Lakewood area, doubling its size to 30,000 SF. The space houses a research lab along with space for inventory and physician samples.