Colorado Drug Maker Sees Golden Opportunities in O.C.

One little, out-of-state drug outfit sees some big opportunities in Orange County.

Golden Pharmaceuticals Inc., a Golden, Colo.-based maker of drugs using radioisotopes, has invested in three companies here and expects to nearly quadruple its revenue in the fiscal year ending Aug. 31, said Glen Weaver, chief financial officer.

Golden had earnings of about $1 million on sales of $4 million in its previous fiscal year, he said. Because of significant investments here, the company expects little or no profit this year while generating revenue of about $15 million.

The company, whose common stock trades on the Nasdaq market, is using its access to public capital as a way to attract small, privately held companies here that need financing to grow, Weaver said.

Last year, it acquired Quality Care Pharmaceuticals Inc., a Huntington Beach-based drug packager, and it recently moved the company to Santa Ana. Quality Care then formed a joint venture with VNA Home Health Systems, an Orange-based visiting nurses company, to begin distributing drugs nationwide by mail order.

Golden also created a joint venture with Anaheim-based Pharma France Inc., another privately held drug company, to make and distribute medicinal herbs, vitamins and over-the-counter products both domestically and in Southeast Asia.

Barbara Marsh can be reached at (714) 966-7762 and at barbara.marsh@latimes.com.