Par Pharmaceutical Companies Inc. has been assigned Ivax Corporation's U.S. distribution rights for various dosage forms of the immediate release antibiotics amoxicillin/clavulanate potassium and amoxicillin. These products will be supplied by a GlaxoSmithKline subsidiary and are fully substitutable for corresponding formulations of Augmentin, Augmentin ES-600 and Amoxil.
According to the company release, the assignment of these product rights will become effective on December 19, 2005. Par believes that this transaction could add approximately $.30 to the company's diluted earnings per share in 2006.
Par Pharmaceutical Companies Inc. develops, manufactures and markets generic pharmaceuticals through its principal subsidiary, Par Pharmaceutical, Inc. The company is also developing an additional line of branded pharmaceutical products, the first of which is Megace ES, for specialty markets. Par currently manufactures more than 90 prescription drugs.