Activist Investor Pushes Par Pharmaceutical, Inc. to Consider Selling Itself
5/9/2012 6:52:33 AM
Par Pharmaceutical Companies Inc, which is under pressure from an activist investor to consider selling itself, posted higher-than-expected results for the fourth straight quarter as most of its products sold well. Ralph Whitworth's Relational Investors LLC raised its stake in the generic drugmaker and asked the company on Tuesday to focus its strategies on a potential takeover. Par's first-quarter net loss from continuing operations was $28.7 million, or 79 cents per share, compared with $108.8 million, or $3.07 per share, last year.