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Barr Reports GAAP Earnings of $1.18 Per Share for 2007 and $0.30 Per Share for the Fourth Quarter; Adjusted Earnings Were $3.16 Per Share for 2007 and $0.79 Per Share for the Fourth Quarter
Date:2/28/2008

resources were devoted to the successful completion of our major short-term integration goals following the PLIVA acquisition," said Bruce L. Downey, Barr's Chairman and Chief Executive Officer.

"As part of the integration of Barr and PLIVA, we met our short-term goals of completing the global management restructuring, consolidating the PLIVA U.S. operations into Barr, divesting non-strategic operations in Spain and Italy, completing the IPO of our non-strategic Veterina business, and expanding our presence in the significant German specialty pharmaceutical market with the acquisition of O.R.C.A.pharm in September 2007. We reported the highest revenues in our history for our generic oral contraceptive and proprietary portfolios, with proprietary sales led by sales of Plan B(TM) and ParaGard(R). We also initiated a record 11 U.S. patent challenge cases, and completed the patent challenge trial related to the Yasmin(R) oral contraceptive. Individually, these accomplishments represent the core strengths of our business. Combined, they speak to the significant opportunities the combination of Barr and PLIVA has created for long-term growth and success."

Revenues

Generic Product Sales

Sales of the Company's generic products were $506 million in the fourth quarter of 2007 and $1.9 billion for 2007, both reflecting significant increases over the prior year periods mainly due to the PLIVA acquisition. A discussion of the Company's generic product sales for the fourth quarter of 2007 compared to the prior year period is presented below.

U.S. Generic Sales

Sales of U.S. generic products totaled $310 million for the fourth quarter of 2007, compared to $298 million in the prior year period. The increase in sales is primarily related to the full quarter impact of sales of PLIVA's U.S. product line in 2007, including Azithromycin. These products are now being sold under the Barr label.

Sales of generic oral contraceptives,
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SOURCE Barr Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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