Barr Pharma a Hold on Buyout

Tags: brl, teva
27 Nov 5:20am
Posted by ZacksResearch
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Barr Pharmaceuticals, Inc. (BRL) is a global specialty pharmaceutical company engaged in the development, manufacture and marketing of branded and generic drugs. On July 18, 2008, Barr announced that it has entered into an agreement with Teva Pharmaceuticals (TEVA) whereby the latter will acquire Barr for $7.46 billion plus the assumption of net debt of approximately $1.5 billion.

We had issued a Sell rating on Barr after the company posted disappointing first-quarter results and slashed its full-year outlook. However, we moved back to a Hold rating following the Teva takeover announcement.

This offer has come at the right time for Barr - the deal should close later this year. We maintain a Hold rating with a $68 price target.

Read the full analyst report on BRL



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