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Par Pharmaceutical, Inc. Halts Shipment of Budesonide Inhalation Suspension; Court Granted AstraZeneca Pharmaceuticals LP (AZN)'s Motion for Temporary Restraining Order Halting Sales of Teva Pharmaceutical Industries Limited (TEVA)'s Generic Pulmicort Respules
11/21/2008
WOODCLIFF LAKE, N.J., Nov. 20 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX - News) today announced that the U.S. District Court for the District of New Jersey last night granted AstraZeneca Pharmaceuticals' motion for a temporary restraining order (TRO) halting sales of Teva's generic Pulmicort Respules® (budesonide inhaled solution). In conjunction with the Court's Order against Teva, AstraZeneca agreed and that it too would halt all sales of its authorized generic budesonide inhalation suspension product and take other necessary steps to comply with the Court's decision. Par is the licensed distributor for AstraZeneca's authorized generic version of PULMICORT RESPULES.
The TRO remains in force until further notice by the Court. This action does not effect sales of branded Pulmicort Respules
About Par Pharmaceutical
Par Pharmaceutical, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. For press release and other company information, visit www.parpharm.com.
Safe Harbor Statement
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Risk factors that might affect such forward-looking statements include those set forth in Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2007, in Item 1A of the Company's subsequent Quarterly Reports on Form 10-Q, in other of the Company's filings with the SEC from time to time, including Current Reports on Form 8-K, and on general industry and economic conditions. Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.
Source: Par Pharmaceutical Companies, Inc.
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