Par Pharmaceutical Companies Inc. has entered into agreements with Teva Pharmaceutical Industries Ltd., Ivax Corporation and an affiliate of Teva to purchase for cash eight products that are currently marketed in the US by Ivax or Teva.
According to the company release, the closing of the purchase agreements is contingent upon the closing of Teva's acquisition of Ivax.
Par Pharmaceutical Companies Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. In 2005, Par received approval for and introduced Megace ES, its first branded pharmaceutical product, and expects to launch its second in early 2006.
Par's Generic Products Division provides high-quality pharmaceuticals that are affordable and accessible to patients. Par manufactures, markets or licenses more than 90 generic drugs.