Barr files with regulators on Pliva buy

Barr Pharmaceuticals says that it has made its required filings with the US Federal Trade Commission, German regulators and all other regulatory filings regarding its proposed acquisition of Zagreb, Croatia-based Pliva (Marketletters passim), for which Icelandic firm Actavis is also bidding.

On July 5, "we held preliminary discussions with members of the FTC during which no substantial preliminary issues surfaced that we believe would pose an impediment to the potential acquisition of Pliva from the US perspective," said Bruce Downey, Barr's chief executive. "As of today [July 7], we have submitted the necessary Hart-Scott-Rodino submission to the FTC, and made the appropriate filings with German regulators. We are hoping for an expedited review and intend to pursue the issuance of our formal tender offer to acquire Pliva in accordance with Croatian takeover law and the Croatian Financial Services Supervisory Agency's (HANFA) instructions as expeditiously as possible."

Barr reiterated that it has the financial commitments necessary to complete the transaction, and that its offer represents the better business arrangement for Pliva in that capabilities, facilities, markets and products have very limited, if any, overlap.