Par assigned Ivax's U.S. distribution rights for Augmentin, Amoxil generics

By E. Janene Geiss

Philadelphia, Dec. 16 - Par Pharmaceutical Cos., Inc. announced Friday that it has been assigned Ivax Corp.'s United States 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.

The assignment of these product rights will become effective on Dec. 19.

Par said it believes this transaction could add about $0.30 to the company's diluted earnings per share in 2006.

Par, based in Spring Valley, N.Y., develops, manufactures and markets generic pharmaceuticals through its principal subsidiary, Par Pharmaceutical, Inc. The company also is developing an additional line of branded pharmaceutical products, the first of which is Megace ES, for specialty markets. Par currently manufactures, markets or licenses more than 90 prescription drugs.

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