Bradley Pharmaceuticals Announces Class Action Litigation, 10-K Delay and Guidance Withdrawal

    FAIRFIELD, N.J., March 11 /PRNewswire-FirstCall/ -- Bradley
 Pharmaceuticals, Inc. (NYSE:   BDY) today announced that purported class action
 lawsuits have been filed in the United States District Court for the District
 of New Jersey against the Company and, in some cases, certain of its officers.
 The lawsuits, filed following the announcement by the Company last week of an
 informal inquiry by the Securities and Exchange Commission, allege violations
 of federal securities laws, including with respect to revenue recognition and
 capitalization of certain payments.  The Company is investigating these issues
 and intends to vigorously defend itself against the lawsuits.
     The Company further announced that, following discussion with its
 auditors, it does not anticipate finalization of its audited financial
 statements for 2004 until conclusion and evaluation of the previously
 announced review being conducted by counsel for the Company's Audit Committee.
 As that review will not be concluded prior to the due date for the Company's
 Annual Report on Form 10-K, the Company will be unable to file its Form 10-K
 on a timely basis.
     As a result of the lawsuits, SEC Inquiry, Audit Committee review and
 associated expenses that are not currently estimatable, the Company is
 withdrawing previously announced financial guidance for unreported periods.
     Bradley Pharmaceuticals, Inc. (NYSE:   BDY) was founded in 1985 as a
 specialty pharmaceutical company marketing to niche physician specialties in
 the U.S. and 38 international markets. Bradley's success is based on the
 strategy of Acquire, Enhance and Grow. Bradley Acquires non-strategic brands,
 Enhances these brands with line extensions and improved formulations and Grows
 the products through promotion, advertising and selling activities to optimize
 life cycle management. Bradley Pharmaceuticals is comprised of Doak
 Dermatologics, specializing in topical therapies for dermatology and podiatry,
 and Kenwood Therapeutics, providing gastroenterology, respiratory and other
 internal medicine brands.
 
     Please visit Bradley Pharmaceuticals web site at:
 http://www.bradpharm.com
 
     Bradley Pharmaceuticals common stock is listed on the NYSE under the
 symbol BDY.
 
     This press release contains "forward-looking statements" within the
 meaning of the Private Securities Litigation Reform Act of 1995.  Forward-
 looking statements include statements that address activities, events or
 developments that Bradley expects, believes or anticipates will or may occur
 in the future, such as earnings estimates, other predictions of financial
 performance, launches by Bradley of new products and market acceptance of
 Bradley's products.  Forward-looking statements are based on Bradley's
 experience and perception of current conditions, trends, expected future
 developments and other factors it believes are appropriate under the
 circumstances and are subject to numerous risks and uncertainties, many of
 which are beyond Bradley's control.  These risks and uncertainties include
 Bradley's ability to favorably resolve the pending SEC informal inquiry,
 maintain sales of its products, successfully acquire, develop, integrate, or
 sell new products or effectively react to other risks and uncertainties
 described from time to time in Bradley's SEC filings, such as fluctuation of
 quarterly financial results, estimation of product returns, chargebacks,
 rebates and allowances, concentration of customers, reliance on third party
 manufacturers and suppliers, litigation or other proceedings (including the
 pending class action lawsuits), government regulation and stock price
 volatility.  Further, Bradley cannot accurately predict the impact on its
 business of the approval, introduction, or expansion by competitors of generic
 or therapeutically equivalent or comparable versions of Bradley's products or
 of any other competing products.  Bradley does not guarantee any forward-
 looking statement, and actual results may differ materially from those
 projected.  Bradley undertakes no obligation to publicly update any forward-
 looking statement, whether as a result of new information, future events or
 otherwise.
 
 

SOURCE  Bradley Pharmaceuticals, Inc.