Barr Shareholders Approve Pending Teva Acquisition
21 Novembre 2008 - 8:00PM
PR Newswire (US)
MONTVALE, N.J., Nov. 21 /PRNewswire-FirstCall/ -- Barr
Pharmaceuticals, Inc. (NYSE:BRL) today announced that its
shareholders overwhelmingly approved the proposals submitted to
them relating to the acquisition of Barr by Teva Pharmaceuticals
Industries Ltd. (NASDAQ:TEVA). "Today's vote demonstrated the
overwhelming support of the transaction by the Barr shareholders,"
said Bruce L. Downey, Barr's Chairman and CEO. "We are pleased with
the progress that we continue to make towards completion of the
acquisition of Barr by Teva, and we and Teva continue to anticipate
completing this transaction prior to the end of the year and
combining our two strong organizations." About Barr
Pharmaceuticals, Inc. Barr Pharmaceuticals, Inc. is a global
specialty pharmaceutical company that operates in more than 30
countries worldwide and is engaged in the development, manufacture
and marketing of generic and proprietary pharmaceuticals,
biopharmaceuticals and active pharmaceutical ingredients. A holding
company, Barr operates through its principal subsidiaries: Barr
Laboratories, Inc., Duramed Pharmaceuticals, Inc. and PLIVA d.d.
and its subsidiaries. The Barr Group of companies markets more than
120 generic and 27 proprietary products in the U.S. and
approximately 1,025 products globally outside of the U.S. For more
information, visit http://www.barrlabs.com/. Forward-Looking
Statements This communication contains "forward-looking statements"
which represent the current expectations and beliefs of management
of Barr Pharmaceuticals, Inc. (the "Company") concerning the
proposed merger of the Company (the "merger") with Boron
Acquisition Corp., a wholly-owned subsidiary of Teva Pharmaceutical
Industries Ltd. (the "Teva") and other future events and their
potential effects on the Company. The statements, analyses, and
other information contained herein relating to the proposed merger,
as well as other statements including words such as "anticipate,"
"believe," "plan," "estimate," "expect," "intend," "will,"
"should," "may," and other similar expressions, are
"forward-looking statements" under the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
not guarantees of future results and are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those anticipated. Those factors include, without
limitation: the difficulty in predicting the timing and outcome of
legal proceedings, including patent-related matters such as patent
challenge settlements and patent infringement cases; the difficulty
of predicting the timing of FDA approvals; court and FDA decisions
on exclusivity periods; the ability of competitors to extend
exclusivity periods for their products; market and customer
acceptance and demand for our pharmaceutical products; our
dependence on revenues from significant customers; reimbursement
policies of third party payors; our dependence on revenues from
significant products; the use of estimates in the preparation of
our financial statements; the impact of competitive products and
pricing on products, including the launch of authorized generics;
the ability to launch new products in the timeframes we expect; the
availability of raw materials; the availability of any product we
purchase and sell as a distributor; the regulatory environment in
the markets where we operate; our exposure to product liability and
other lawsuits and contingencies; the increasing cost of insurance
and the availability of product liability insurance coverage; our
timely and successful completion of strategic initiatives,
including integrating companies (such as PLIVA d.d.) and products
we acquire; fluctuations in operating results, including the
effects on such results from spending for research and development,
sales and marketing activities and patent challenge activities; the
inherent uncertainty associated with financial projections; our
expansion into international markets through our PLIVA acquisition,
and the resulting currency, governmental, regulatory and other
risks involved with international operations; our ability to
service our significantly increased debt obligations as a result of
the PLIVA acquisition; changes in generally accepted accounting
principles; the reactions of the Company's customers and suppliers
to the merger; the occurrence of any event, change or other
circumstance that could give rise to the termination of the merger
agreement; the inability to complete the merger due to the failure
to satisfy customary conditions to the completion of the merger,
including the failure to receive required regulatory approvals and
the diversion of management time on merger-related issues. These
and other applicable risks, cautionary statements and factors that
could cause actual results to differ from the Company's
forward-looking statements are included in the Company's filings
with the U.S. Securities and Exchange Commission ("SEC"),
specifically as described in the Company's annual report on Form
10-K for the fiscal year ended December 31, 2007. The Company
undertakes no obligation to update or revise any forward-looking
statements to reflect subsequent events or circumstances. Important
Legal Information In connection with the proposed merger, Teva has
filed a registration statement on Form F-4 containing a proxy
statement/prospectus for shareholders of the Company with the SEC,
and the Company and Teva may be filing other documents regarding
the proposed transaction with the SEC as well. Before making any
investment decision, investors are urged to read the proxy
statement/prospectus regarding the proposed transaction, as well as
the other documents referred to in the proxy statement/prospectus
carefully in their entirety when they become available because they
will contain important information about the proposed transaction.
The definitive proxy statement/prospectus has been mailed to the
Company's shareholders. Shareholders may obtain a free copy of the
proxy statement/prospectus, as well as other filings containing
information about Teva and the Company, without charge, at the
SEC's Internet site (http://www.sec.gov/). Copies of the proxy
statement/prospectus and the filings with the SEC that are
incorporated by reference in the proxy statement/prospectus can
also be obtained, without charge, by directing a request by mail or
telephone to Barr Pharmaceuticals, Inc., 225 Summit Avenue,
Montvale, NJ, 07645 -- Attention: Investor Relations. DATASOURCE:
Barr Pharmaceuticals, Inc. CONTACT: Carol A. Cox of Barr
Pharmaceuticals, Inc., +1-201-930-3720, Web Site:
http://www.barrlabs.com/ Company News On-Call:
http://www.prnewswire.com/comp/089750.html
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