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news.Duramed Pharmaceuticals, a subsidiary of Barr Pharmaceuticals, is to acquire FEI Women's Health, for $281.5 million in a transaction that will expand the company's presence into the non-hormone contraceptive product marketplace.
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The acquisition includes the non-hormone birth control treatment ParaGard, which is approved for continuous use for the prevention of pregnancy for up to 10 years. The treatment was approved in 1984 and has been marketed in the US since 1988. Sales of ParaGard in the US and internationally were approximately $48 million for calendar year 2004.
“More than 76 million women worldwide have safely utilized ParaGard over the past 17 years,” said Bruce Downey, Barr’s chairman and CEO. “We believe that the uniqueness of this safe and effective product, combined with our position in the contraceptive marketplace, and our targeted female healthcare sales and marketing capabilities, will enable us to realize significant value from this acquisition.”
Barr said it expects to close the transaction before December 31, 2005.