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Barr/Pliva acquisition final

Executive Summary

Barr's acquisition of Croatian generics firm Pliva closes Oct. 24. Barr was able to own or control in excess of 95% of Pliva's voting share capital by the Oct. 11 deadline, the threshold necessary for a takeover under Croatian law. FTC approval of the $2.5 bil. deal was contingent upon Barr divesting the generic antidepressant trazodone and its generic blood pressure medication triamterene/hydrochlorothiazide to Apotex, as well as divesting either its own or Pliva's nimodipine soft gel capsules and Pliva's branded organ preservation solution Custodial. Barr cites Pliva's European infrastructure and biogeneric capabilities as the main reasons for the merger (1"The Pink Sheet" July 3, 2006, p. 16)....

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Watson nets Barr exec as CEO

Barr President and Chief Operating Officer Paul Bisaro will succeed longtime Watson CEO and founder Allen Chao, effective Sept. 4. Bisaro has worked for Barr since 1992, and became president and COO in 2006. Among his more recent accomplishments is helping guide the acquisition of Pliva, which closed in October 2006 (1"The Pink Sheet" Oct. 30, 2006, In Brief). Barr CEO Bruce Downey will now take over Bisaro's responsibilities on an interim basis, according to Barr, which maintains there is no "urgency" in naming a replacement. Barr also will need to re-evaluate its succession plan, as Bisaro was widely viewed as the choice to take over when Downey retires...

Barr Seeks To Capitalize On Pliva Infrastructure, Faces Obstacles To Benefits

Barr is moving ahead with its integration of Pliva, but the firm must overcome several obstacles before it can capitalize on its recently acquired European infrastructure

Barr’s Rationale For Pliva Merger: Business Synergy, Biogenerics Leadership

Barr is highlighting its complementary product portfolio and business model in its efforts to ward off competition from Actavis to acquire Pliva




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