Par to buy eight generics from Teva, Ivax

By E. Janene Geiss

Philadelphia, Dec. 22 - Par Pharmaceutical Cos., Inc. announced Thursday that it has entered into agreements with Teva Pharmaceutical Industries Ltd., Ivax Corp. and an affiliate of Teva to purchase for cash eight products that are currently marketed in the United States by Ivax or Teva.

Closing of the purchase agreements is contingent upon the closing of Teva's acquisition of Ivax, officials said in a news release.

In July, Teva announced it would acquire Ivax for $7.4 billion, joining the top two generic drug companies in the industry.

Par, based in Spring Valley, N.Y., develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. Par manufactures, markets or licenses more than 90 generic drugs.

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