BDY Prescription Data & Performance (page 3)

March 8, 2004
(Week Ended February 27)

Bradley Pharmaceuticals, Inc.: Carmol Prescriptions Fall 25% as Total Company Sales Grow 18%

Dollar sales of all Bradley products grew 18% in the week ended February 27, compared to 32% growth the prior week. We expect Bradley’s 2004 sales to grow 16% to $86.3 million.

Total prescriptions for Bradley’s Carmol line of damaged-skin treatments declined 25% in the week ended February 27, compared to a 15% decline the prior week. Dollar sales of the products decreased 17%, compared with an 8% decrease the previous week. We expect Carmol sales growth to decline 1% in the first quarter of 2004, compared to 69% growth in 2003.

Competitors are introducing copies of one of Bradley's Carmol skin products. Urea drugs similar to Carmol sold by Hi-Tech, River’s Edge, and Stiefel Labs had 6,628 prescriptions in the week ended February 27, compared to 6,478 prescriptions the prior week.

To be sure, the market for urea-based prescription skin softeners continues to grow. Total prescriptions for Carmol and four other urea-based drugs grew 36% in the week ended February 27, compared to 55% growth the prior week.

Sales of new drugs are offsetting increased Carmol competition. Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $16.2 million after launching in January 2003, compared with an annualized rate of $16.2 million the prior week. We expect 2004 Rosula and AnaMantle sales of $19.9 million, compared to 2003 sales of $10.4 million.

Bradley is likely to launch Zoderm, its new topical acne drug, in early March. We expect first quarter Zoderm sales of $3.5 million and 2004 sales of $8.5 million.

                                                                                                                     (© Raymond James, Inc.)

March 1, 2004
(Week Ended February 20)

Bradley Pharmaceuticals, Inc.: Carmol Prescriptions Fall 15% as Total Company Sales Grow 32%

Dollar sales of all Bradley products grew 32% in the week ended February 20, compared to 20% growth the prior week. We expect Bradley’s 2004 sales to grow 16% to $86.3 million

Total prescriptions for Bradley’s Carmol line of damaged-skin treatments declined 15% in the week ended February 20, compared to a 24% decline the prior week. Dollar sales of the products decreased 8%, compared with a 14% decrease the previous week. We expect Carmol sales growth to decline 1% in the first quarter of 2004, compared to 69% growth in 2003.

Competitors are introducing copies of one of Bradley's Carmol skin products. Urea drugs similar to Carmol sold by Hi-Tech, River’s Edge, and Stiefel Labs had 6,478 prescriptions in the week ended February 20, compared to 6,318 prescriptions the prior week.

Sales of new drugs are offsetting increased Carmol competition. Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $16.2 million after launching in January 2003, compared with an annualized rate of $15.6 million the prior week. We expect 2004 Rosula and AnaMantle sales of $19.9 million, compared to 2003 sales of $10.4 million.

Bradley is likely to launch Zoderm, its new topical acne drug, in early March. We expect first quarter Zoderm sales of $3.5 million and 2004 sales of $8.5 million.

                                                                                                                     (© Raymond James, Inc.)

February 23, 2004
(Week Ended February 13)

Bradley Pharmaceuticals, Inc.: Carmol Prescriptions Fall 24% as Total Company Sales Grow 20%

Dollar sales of all Bradley products grew 20% in the week ended February 13, compared to 21% growth the prior week. We expect Bradley’s 2004 sales to grow 23% to $85.7 million.

Total prescriptions for Bradley’s line of Carmol line of damaged-skin treatments declined 24% in the week ended February 13, compared to a 22% decline the prior week. Dollar sales of the products decreased 14%, compared with a 14% decrease the previous week. We expect Carmol sales growth to slow in the fourth quarter of 2003 to about 27% from 64% growth in the first nine months of 2003. Bradley is scheduled to report fourth quarter results Thursday, February 26 at 10 a.m.

Competitors are introducing copies of one of Bradley's Carmol skin products. Urea drugs similar to Carmol sold by Hi-Tech, River’s Edge, and Stiefel Labs had 6,318 prescriptions in the week ended February 13, compared to 6,151 prescriptions the prior week.

Sales of new drugs are offsetting increased Carmol competition. Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $15.6 million after launching in January 2003, compared with an annualized rate of $15.5 million the prior week.

Bradley in early March is likely to launch Zoderm, its new topical acne drug. We expect first quarter Zoderm sales of $3 million and 2004 sales of $8 million.

                                                                                                                     (© Raymond James, Inc.)

February 17, 2004
(Week Ended February 6)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 22%

Carmol has lost about 47% of its new-prescription market share to generics and a branded competitor. Total prescriptions for Bradley’s line of Carmol line of damaged-skin treatments declined 22% in the week ended February 6, compared to a 29% decline the prior week, dollar sales of the products decreased 14%, compared with a 22% decrease the previous week. Urea drugs similar to Carmol sold by Hi-Tech, River’s Edge, and Stiefel Labs had 6,151 prescriptions in the week ended February 6, compared to 5,736 prescriptions the prior week.



Year-over-year growth of 36% in the urea market in the most recently reported week has helped blunt damage from Carmol’s eroding market share. Bradley is offsetting Carmol competition with two drugs introduced last year, AnaMantle for hemorrhoids and Rosula for acne. Sales are annualizing at $15.5 million after launching in January 2003, compared with an annualized rate of $15.1 million the prior week.

New products have allowed Bradley to continue growth. Dollars sales of all Bradley products in the week ended February 6, gained 21% from the year-ago period, compared to 16% growth the prior week. We expect Bradley’s 2004 sales to grow 23% to $85.7 million. Bradley’s prescriptions have yet to benefit from Zoderm, an acne drug that Bradley plans to begin promoting in March. We expect first quarter Zoderm sales of $3 million and 2004 sales of $8 million.

Lidamantle, a drug for itching, also is performing well. Sales in the most recently reported week gained 86% from the year-ago period. Sales are annualizing at $5.9 million, compared with our 2004 estimate of $5.8 million, up 17% from 2003.

                                                                                                                     (© Raymond James, Inc.)

February 2, 2004
(Week Ended January 23)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 20%

Total prescriptions for Bradley’s Carmol line of damaged-skin treatments declined 20% in the week ended January 23, compared to an 18% decline the prior week. Dollar sales of the products decreased 10%, compared with a 10% decrease the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of 2003.

Risks for Bradley include increased competition. Competitors are introducing copies of one of Bradley's Carmol skin products. Hi-Tech’s Urea, a drug similar to Carmol, had 3,905 prescriptions in the week ended January 23, compared to 3,755 prescriptions the prior week. Another urea product sold by Stiefel Labs generated 769 prescriptions in the week ended January 23, up from 728 prescriptions the prior week.

Sales of new drugs are offsetting increased Carmol competition. Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $15.0 million after launching in January 2003, compared with an annualized rate of $15.2 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million.

Bradley, in early March, is likely to launch Zoderm, its new topical acne drug. We expect first-quarter Zoderm sales of $3 million and 2004 sales of $8 million.

Dollar sales of all Bradley products grew 25% in the week ended January 23, compared to 25% growth the prior week. We expect Bradley’s 2004 sales to grow 23% to $85.7 million.

                                                                                                                     (© Raymond James, Inc.)

January 27, 2004
(Week Ended January 16)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 18%

Total prescriptions for Bradley’s line of Carmol line of damaged-skin treatments declined 18% in the week ended Jan. 16, compared to an 18% decline the prior week. Dollar sales of the products decreased 10%, compared with an 8% decrease the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of 2003.

Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $15.2 million after launching in January 2003, compared with an annualized rate of $14.5 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million.

Dollar sales of all Bradley products grew 25% in the week ended Jan. 16, compared to 28% growth the prior week.

Risks for Bradley include increased competition. Competitors are introducing branded copies of one of Bradley's Carmol skin products. Hi-Tech’s Urea, a drug similar to Carmol, had 3,755 prescriptions in the week ended Jan. 16, compared to 3,301 prescriptions the prior week. Another urea product sold by Stiefel Labs generated 728 prescriptions in the week ended Jan. 16, up from 579 prescriptions the prior week.

                                                                                                                     (© Raymond James, Inc.)

January 19, 2004
(Week Ended January 9)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 19%

Total prescriptions for Bradley’s Carmol line of damaged-skin treatments declined 19% in the week ended January 9, compared to an 11% decline the prior week. Dollar sales of the products decreased 10%, compared with a 1% increase the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of 2003.

Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $14.5 million after launching in January 2003, compared with an annualized rate of $12.4 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million.

Dollar sales of all Bradley products grew 26% in the week ended January 9, compared to 36% growth the prior week.

Risks for Bradley include increased competition. Competitors are introducing branded copies of one of Bradley's Carmol skin products. Hi-Tech’s Urea, a drug similar to Carmol, had 3,489 prescriptions in the week ended January 9, compared to 3,077 prescriptions the prior week. Another urea product sold by Stiefel Labs generated 565 prescriptions in the week ended January 9, up from 456 prescriptions the prior week.

                                                                                                                     (© Raymond James, Inc.)

January 12, 2004
(Week Ended January 2)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 11%

Total prescriptions for Bradley’s Carmol line of damaged-skin treatments declined 11% in the week ended January 2, compared to a 0% decline the prior week. Dollar sales of the products increased 1%, compared with a 15% increase the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of 2003.

Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $12.4 million after launching in 2003, compared with an annualized rate of $11.5 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million.

Dollar sales of all Bradley products grew 36% in the week ended January 2, compared to 50% growth the prior week.

Risks for Bradley include increased competition. Competitors are introducing branded copies of one of Bradley's Carmol skin products. Hi-Tech’s Urea, a drug similar to Carmol, had 3,077 prescriptions in the week ended January 2, compared to 2,715 prescriptions the prior week. Another urea product sold by Stiefel Labs generated 456 prescriptions in the week ended January 2, up from 414 prescriptions the prior week.

                                                                                                                     (© Raymond James, Inc.)

January 5, 2004
(Week Ended Dec. 26)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Unchanged

Total prescriptions for Bradley’s line of Carmol line of damaged-skin treatments grew 0% in the week ended December 26, compared to a 12% decline the prior week. Dollar sales of the products increased 15%, compared with a 1% decrease the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of 2003.

Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $11.5 million after launching in January, compared with an annualized rate of $14.6 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million.

Dollar sales of all Bradley products grew 50% in the week ended December 26, compared to 31% growth the prior week. Risks for Bradley include increased competition. Competitors are introducing branded copies of one of Bradley's Carmol skin products. Hi-Tech’s Urea, a drug similar to Carmol, had 2,715 prescriptions in the week ended December 26, compared to 3,541 prescriptions the prior week. Another urea product sold by Stiefel Labs generated 414 prescriptions in the week ended December 26, from 517 prescriptions the prior week.

                                                                                                                     (© Raymond James, Inc.)

December 29, 2003
(Week Ended Dec. 19)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 12%

Total prescriptions for Bradley’s Carmol line of damaged-skin treatments decreased 12% in the week ended December 19, compared to an 11% decline the prior week. Dollar sales of the products decreased 1%, compared with a 1% increase the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of the year.

Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $14.6 million after launching in January, compared with an annualized rate of $14.0 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million. Dollar sales of all Bradley products grew 31% in the week ended December 19, compared to 35% growth the prior week.

Risks for Bradley include increased competition. Competitors are introducing branded copies of one of Bradley's Carmol skin products. Hi-Tech’s Urea, a drug similar to Carmol, had 3,541 prescriptions in the week ended December 19, compared to 3,281 prescriptions the prior week. Another urea product sold by Stiefel Labs generated 517 prescriptions in the week ended December 19, up from 362 prescriptions the prior week.

                                                                                                                     (© Raymond James, Inc.)

December 15, 2003
(Week Ended Dec. 5)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 2%

Total prescriptions for Bradley’s line of Carmol line of damaged-skin treatments decreased 1.5% in the week ended Dec. 5, compared to a 0.7% decline the prior week. Dollar sales of the products increased 12%, compared with a 15% increase the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of the year.

Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $13.1 million after launching in January, compared with an annualized rate of $11.9 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million. Dollar sales of all Bradley products grew 46% in the week ended Dec. 5, compared to 48% growth the prior week.

Risks for Bradley include increased competition. Competitors are introducing branded copies of one of Bradley's Carmol skin products. A competing drug sold by Aventis, called Vanamide, had 2,134 prescriptions dispensed during the week of Dec. 5, compared to 1,775 during the week ended Nov. 28. Hi-Tech’s Urea, a drug similar to Carmol, had 2,756 prescriptions in the week ended Dec. 5, compared to 2,174 prescriptions the prior week.

                                                                                                                     (© Raymond James, Inc.)

December 8, 2003
(Week Ended November 28)

Bradley Pharmaceuticals, Inc.: Carmol Skin Lotion Prescriptions Decline 1%

Total prescriptions for Bradley’s Carmol line of damaged-skin treatments decreased 0.7% in the week ended November 28, compared to 4.1% growth the prior week. Dollar sales of the products increased 15%, compared with a 23% increase the previous week. We expect Carmol sales growth to slow in the fourth quarter to about 27% from 64% growth in the first nine months of the year.

Dollar sales of Bradley’s newly launched products Rosula for acne and AnaMantle for hemorrhoids are annualizing at $11.9 million after launching in January, compared with an annualized rate of $12.8 million the prior week. We expect 2003 Rosula and AnaMantle sales of $11.7 million.

Risks for Bradley include increased competition. Competitors are introducing branded copies of one of Bradley's Carmol skin products. A competing drug sold by Aventis, called Vanamide, had 1,775 prescriptions dispensed during the week of November 28, compared to 2,261 during the week ended November 21. Hi-Tech’s Urea, a drug similar to Carmol, had 2,380 prescriptions in the week ended November 28, compared to 2,529 prescriptions the prior week.

                                                                                                                     (© Raymond James, Inc.)