Formation of holding company announced Aug. 7 will allow Par Pharmaceuticals to insulate new investors' capital from Par's ongoing legal problems, a spokesperson said. Par and its subsidiary Quad were fined over $ 400,000 for illegal gratuities paid by former execs to FDAers. The firm is also embroiled with a number of shareholder suits. The holding company, Pharmaceutical Resources, will become effective the week of Aug. 12, and Par shareholders will automatically become shareholders of Pharmaceutical Resources.
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