Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and Barr
Pharmaceuticals, Inc. (NYSE: BRL) announced today that, as expected,
each party has received a request for additional information (commonly
referred to as a “second request”) from the U.S. Federal Trade
Commission (FTC) in connection with Teva’s pending acquisition of
Barr. The parties have been cooperating with the FTC staff since
shortly after the announcement of the transaction and intend to
continue to cooperate with the FTC to obtain HSR clearance as promptly
as possible.

The effect of the second request is to extend the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) waiting
period until thirty days after the parties have substantially complied
with the request, unless that period is terminated sooner by the FTC.
The companies continue to expect that the transaction will close in
late 2008, following completion of the HSR clearance process, the
obtaining of the other required antitrust approvals and the
satisfaction of all other closing conditions contained in the merger
agreement between the parties, including the approval of Barr
stockholders.

About Teva

Teva Pharmaceutical Industries Ltd., headquartered in Israel, is
among the top 20 pharmaceutical companies in the world and is the
world’s leading generic pharmaceutical company. The Company develops,
manufactures and markets generic and innovative human pharmaceuticals
and active pharmaceutical ingredients, as well as animal health
pharmaceutical products. Over 80 percent of Teva’s sales are in North
America and Western Europe.

About Barr

Barr Pharmaceuticals, Inc. is a global specialty pharmaceutical
company that operates in more than 30 countries worldwide and is
engaged in the development, manufacture and marketing of generic and
proprietary pharmaceuticals, biopharmaceuticals and active
pharmaceutical ingredients. A holding company, Barr operates through
its principal subsidiaries: Barr Laboratories, Inc., Duramed
Pharmaceuticals, Inc. and PLIVA d.d. and its subsidiaries. The Barr
Group of companies markets more than 120 generic and 27 proprietary
products in the U.S. and approximately 1,025 products globally outside
of the U.S. For more information, visit www.barrlabs.com.

Safe Harbor Statement under the U. S. Private Securities
Litigation Reform Act of 1995: This release contains forward-looking
statements, which express the current beliefs and expectations of
management. Such statements are based on management’s current beliefs
and expectations and involve a number of known and unknown risks and
uncertainties that could cause Teva and Barr’s future results,
performance or achievements to differ materially from the results,
performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating to: whether and
when the proposed acquisition will be consummated and the terms of any
conditions imposed in connection with such closing, Teva’s ability to
rapidly integrate Barr’s operations and achieve expected synergies,
diversion of management time on merger-related issues, Teva and Barr’s
ability to successfully develop and commercialize additional
pharmaceutical products, the introduction of competing generic
equivalents, the extent to which Teva or Barr may obtain U.S. market
exclusivity for certain of their new generic products and regulatory
changes that may prevent Teva or Barr from utilizing exclusivity
periods, competition from brand-name companies that are under
increased pressure to counter generic products, or competitors that
seek to delay the introduction of generic products, the impact of
consolidation of our distributors and customers, potential liability
for sales of generic products prior to a final resolution of
outstanding patent litigation, including that relating to the generic
versions of Allegra(R), Neurontin(R), Lotrel(R) and Protonix(R), the
effects of competition on our innovative products, especially
Copaxone(R) sales, the impact of pharmaceutical industry regulation
and pending legislation that could affect the pharmaceutical industry,
the difficulty of predicting U.S. Food and Drug Administration,
European Medicines Agency and other regulatory authority approvals,
the regulatory environment and changes in the health policies and
structures of various countries, our ability to achieve expected
results though our innovative R&D efforts, Teva’s ability to
successfully identify, consummate and integrate acquisitions,
potential exposure to product liability claims to the extent not
covered by insurance, dependence on the effectiveness of our patents
and other protections for innovative products, significant operations
worldwide that may be adversely affected by terrorism, political or
economical instability or major hostilities, supply interruptions or
delays that could result from the complex manufacturing of our
products and our global supply chain, environmental risks,
fluctuations in currency, exchange and interest rates, and other
factors that are discussed in Teva’s Annual Report on Form 20-F,
Barr’s Annual Report on Form 10-K and their other filings with the
U.S. Securities and Exchange Commission. Forward-looking statements
speak only as of the date on which they are made, and neither Teva nor
Barr undertakes no obligation to update publicly or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.

This communication is being made in respect of the proposed merger
involving Teva and Barr. In connection with the proposed merger, Teva
will be filing a registration statement on Form F-4 containing a proxy
statement/prospectus for the stockholders of Barr, and Barr will be
filing a proxy statement for the stockholders of Barr, and each will
be filing other documents regarding the proposed transaction, with the
SEC. Before making any voting or investment decision, Barr’s
stockholders and investors are urged to read the proxy
statement/prospectus regarding the merger and any other relevant
documents carefully in their entirety when they become available
because they will contain important information about the proposed
transaction. Once filed, the registration statement containing the
proxy statement/prospectus and other documents will be available free
of charge at the SEC’s website, www.sec.gov. You will also be able to
obtain the proxy statement/prospectus and other documents free of
charge by contacting Barr Investor Relations at 201-930-3720 or Teva
Investor Relations at 972-3-926-7554 / 215-591-8912.

Teva, Barr and their respective directors and executive officers
and other members of management and employees may be deemed to
participate in the solicitation of proxies in respect of the proposed
transactions. Information regarding Barr’s directors and executive
officers is available in Barr’s proxy statement for its 2008 annual
meeting of stockholders, which was filed with the SEC on April 7, 2008
and information regarding Teva’s directors and executive officers is
available in Teva’s Annual Report on Form 20-F for the year ended
December 31, 2007, which was filed with the SEC on February 29, 2008.
Additional information regarding the interests of such potential
participants will be included in the proxy statement/prospectus and
the other relevant documents filed with the SEC when they become
available.

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