Corporate Profile

Barr Pharmaceuticals, Inc. is a Delaware holding company whose principal subsidiaries, Barr Laboratories, Inc. and Duramed Pharmaceuticals, Inc., develop, manufacture and market generic and proprietary pharmaceutical products, respectively. The Company’s generic products are marketed under the “Barr” label, and proprietary products are marketed under the “Duramed” label.

For the fiscal year ended June 30, 2006, the Company recorded net earnings of $337 million on revenues of $1.3 billion. Of the $1.3 billion of revenues in fiscal 2006, $839 million were from sales of generic products, $330 million were from sales of proprietary products, and $146 million were attributed to revenues derived from co-promotion alliances, development agreements and other sources.

Barr’s business has two reportable segments: generic pharmaceuticals and proprietary pharmaceuticals. In the generic pharmaceutical segment, the Company currently manufactures and distributes approximately 150 different dosage forms and strengths of approximately 75 different generic pharmaceutical products, including 22 oral contraceptive products, representing the largest category of the generic product portfolio.

In the proprietary pharmaceutical segment, the Company currently manufactures and distributes 19 proprietary pharmaceutical products, largely concentrated in the female healthcare arena. These products include the SEASONIQUE™ (levonorgestrel and ethinyl estradiol) extended-cycle oral contraceptive product, ENJUVIA™ (synthetic conjugated estrogens, B) line of hormone therapy products, Plan B® emergency contraceptive (levonorgestrel) product, the ParaGard® T 380A Intrauterine Copper Contraceptive product, and Mircette® oral contraceptive.

Barr operates manufacturing, research and development and administrative facilities that are located in eight locations within the United States. Executive offices are located in Woodcliff Lake, New Jersey.

Business Strategies
The Company focuses its resources on three principal strategies:

• developing and marketing selected generic pharmaceuticals;

• developing and marketing proprietary pharmaceuticals; and

• pursuing development and marketing of generic biopharmaceuticals.

Investment in Research and Development
The Company’s commitment to research and development, including acquired in-process research and development, resulted in investments of $128 million in fiscal 2005 and $140 million in fiscal 2006. We have consistently made these significant investments because of our belief that a broad portfolio of products in development is critical to our long-term success.

Research and development expenditures for generic development activities typically include those related to internal personnel, third-party bioequivalence studies, costs paid to third-party development partners and costs for raw materials used in developing products.

Proprietary development costs typically include those related to internal personnel, clinical studies, third-party toxicology studies, clinical trials conducted by third-party clinical research organizations, and raw materials.

The Company expects to continue to invest aggressively in research and development projects in 2007 and beyond.

Pursuing Development and Marketing of Generic Biopharmaceuticals
The Company is actively pursuing those business development initiatives and internal development activities that will enable it to bring generic versions of biopharmaceutical products to market and intends to build a leadership position in the development and marketing of such products in the future.

Corporate Development
To supplement internal efforts in support of its business strategies, the Company continually evaluates business development opportunities that it believes will strengthen our product portfolio and help grow both our generic and proprietary businesses. The Company regularly evaluates opportunities, particularly in the areas of strategic product acquisitions and/or corporate mergers and acquisitions. It also evaluates partnership arrangements that may involve: new technology platforms on which to expand our barrier to entry generic strategy, women’s healthcare products in late stage development, and products or companies for a new, second proprietary therapeutic category. As Barr continues its growth strategy, the Company expects that business development activities, including product and company acquisitions will continue to increase.