Barr to Buy Duramed in a Stock Swap
Barr Laboratories Inc. said it will acquire Duramed Pharmaceuticals Inc. in a stock swap valued at about $589 million, adding to its line of oral contraceptives and hormone products for women.
Barr said it would exchange one of its shares for 3.9032 shares of Duramed. Cincinnati-based Duramed rose 99 cents to $17.89 on Nasdaq, while Barr fell $2.24 to $69.20 on the Big Board.
Barr, which is best known for making generic forms of existing drugs, said it expects the combined company to have revenue of about $700 million in fiscal 2002.
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