Barr Waives Pliva Condition

Drugmaker Barr Pharmaceuticals(BRL Quote) said Monday it is prepared to satisfy any requirements that the Federal Trade Commission might impose regarding its proposed tender offer to purchase Crotian generic pharmaceutical company Pliva.

Barr won't include an FTC approval condition in the formal tender offer it intends to file with the Croatian Financial Services Supervisory Agency later this week, it said.

"As we anticipated, FTC issues related to this transaction were minimal, as there is very little overlap in our product lines, markets and operations," the company said. "As a result of our discussions with the staff of the FTC and with third parties regarding divestiture agreements, we intend to proceed expeditiously in officially filing our tender offer in accordance with Croatian takeover law and HANFA's instructions." ...