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PHARMACEUTICAL RESOURCES' QUAD UNIT TO SELL INDIANAPOLIS MANUFACTURING FACILITIES

 PHARMACEUTICAL RESOURCES' QUAD UNIT TO SELL
 INDIANAPOLIS MANUFACTURING FACILITIES
 SPRING VALLEY, N.Y., June 5 /PRNewswire/ -- Pharmaceutical Resources, Inc. ("PRI") (NYSE: PRX; PSE: PRX) announced today that its Quad Pharmaceuticals, Inc. ("Quad") subsidiary has entered into a contract to sell the injectable drug manufacturing facility formerly operated by Quad in Indianapolis, Ind., together with the adjoining real property, certain fixtures, and other assets related to the facility. The purchaser is a publicly held company in the biotechnology industry.
 In making the announcement, Kenneth I. Sawyer, PRI's president, stated: "While the terms of the agreement remain confidential, we are pleased that one of the benefits of this transaction will be that, upon closing, Quad and PRI's principal operating subsidiary, Par Pharmaceutical, Inc., will be relieved of all obligations under the industrial development bond covering the real property."
 Pharmaceutical Resources is the parent company of Par Pharmaceutical, Inc., a manufacturer and marketer of prescription and over-the-counter generic drugs.
 -0- 6/5/92
 /CONTACT: Richard J. Nadler or Richard J. Strobel of Pharmaceutical Resources, 914-425-7100/
 (PRX) CO: Pharmaceutical Resources Inc. ST: New York, Indiana IN: MTC SU: TNM


TQ-CK -- NY022 -- 7387 06/05/92 10:35 EDT
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Publication:PR Newswire
Date:Jun 5, 1992
Words:194
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