PAR AND SPECTRUM JOIN TO DISTRIBUTE GENERICS

APRIL 01, 2006

Spectrum Pharmaceuticals will begin distribution of generic drugs produced by Par Pharmaceutical under a new strategic alliance agreed to by the 2 companies. Under the agreement, Par will make an unspecified equity investment in Spectrum, and Spectrum will receive payments based on achievement of specified regulatory approvals that company officials believe to be worth over $10 million. Par will also provide financial and legal support for the ongoing patent challenge for sumatriptan injection—a migraine treatment originally developed by GlaxoSmithKline—and both companies will share profits resulting from the sale of the generic products.




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