Printer Friendly

PAR PHARMACEUTICAL NOW ELIGIBLE TO BID ON GOVERNMENT CONTRACTS UNDER AGREEMENT WITH DEFENSE LOGISTICS AGENCY

 PAR PHARMACEUTICAL NOW ELIGIBLE TO BID ON GOVERNMENT CONTRACTS
 UNDER AGREEMENT WITH DEFENSE LOGISTICS AGENCY
 SPRING VALLEY, N.Y., June 29 /PRNewswire/ -- Pharmaceutical Resources, Inc. (NYSE, PSE: PRX), announced today that it and its subsidiary, Par Pharmaceutical, Inc., have reached an agreement with the United States Defense Logistics Agency under which Par is now regarded by the Defense Department as eligible to contract with the Federal Government.
 The agreement will end Par's current suspension and terminate Par's proposed debarment, and will allow Par to actively seek to sell its products to the federal government and agencies thereof. The Defense Logistics Agency is the primary purchaser of pharmaceuticals and medical supplies for the Department of Defense.
 Kenneth I. Sawyer, president of Pharmaceutical Resources, said, "The resolution of this matter brings to an end this aspect of the federal governmental proceedings brought against Par arising from its past activities. Our work in rebuilding over the past three years has been necessary to achieve this very desirable result. Now that this agreement has been reached, we can devote even more of our resources to other areas of our operations including continuing to expand our sales."
 Pharmaceutical Resources, Inc., is the parent company of Par Pharmaceutical, Inc., a manufacturer and marketer of prescription and over-the-counter generic drugs.
 -0- 6/29/92
 /CONTACT: Michael A. Swit of Pharmaceutical Resources, 914-425-7100/
 (PRX) CO: Par Pharmaceutical, Inc.; Pharmaceutical Resources, Inc. ST: New York IN: MTC SU: CON


GK-OS -- NY057 -- 4760 06/29/92 13:19 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 29, 1992
Words:249
Previous Article:MAY MUTUAL FUND SALES TOTAL $27.0 BILLION
Next Article:GEORGIA-PACIFIC ANNOUNCES VICE CHAIRMAN TO RETIRE
Topics:


Related Articles
PAR PHARMACEUTICAL SETTLES GOVERNMENT INVESTIGATION, AGREES TO PAY $2.5 MILLION IN FINES
PAR PHARMACEUTICAL SETTLES GOVERNMENT INVESTIGATION, AGREES TO PAY $2.5 MILLION IN FINES
PAR PHARMACEUTICAL SETTLES GOVERNMENT INVESTIGATION, AGREES TO PAY $2.5 MILLION IN FINES
U.S. TRADING CORP. FILES FEDERAL SUIT AGAINST PUBLICLY TRADED PAR PHARMACEUTICAL AND ITS PARENT PHARMACEUTICAL RESOURCES
IMS HEALTH Awarded 10-Year Contract by U.S. Department of Defense.
DSCP Awards the Biggest HUBZone Contract in DoD History.
Defense Logistics Agency and U.S. Department of Veterans Affairs To Co-Host Federal Health Care Acquisition Conference.
Expanded Partnership with Cardinal Health Enables U.S. Defense Department To Improve Buying Power.
General Dynamics Enters Second Ordering Period of $233 Million Air Force 'Corporate Contract'.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters