Par Pharma buys back $58 million of 2.875% convertible notes due 2010

By Devika Patel

Knoxville, Tenn., Nov. 6 - Par Pharmaceutical Cos., Inc. said it redeemed $58 million of its 2.875% senior subordinated convertible notes due 2010.

There company paid $50 million for the notes, which includes interest.

Woodcliff Lake, N.J.-based Par develops generic drugs and branded pharmaceuticals for specialty markets.

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