Teva Pharmaceutical Industries Ltd. has completed its acquisition of Barr Pharmaceuticals, Inc. The combined company will have a significant presence in over 60 countries and generated approximately $13.6 billion in revenues on a pro-forma basis for the twelve months ended September 30, 2008. “This is truly an exciting day for us,” said Shlomo Yanai, President and CEO of Teva. “By combining two industry-leading companies, we have established a stronger, more competitive company with increased scale and an expanded geographic footprint with significant potential for growth. With a highly complementary generics business in the U.S. which extends our product portfolio and pipeline into new and attractive product categories, a substantial women’s healthcare business which broadens our specialty pharmaceutical business and a significant presence in key global growth markets, Barr strengthens our balanced business model and enhances our growth potential.” Mr. Yanai added, “We welcome the employees and management teams of Barr and its subsidiary PLIVA to the Teva family and, based on our past experiences, we anticipate a successful integration that will maximize value creation. We have an opportunity to incorporate the best practices of both of our companies to create additional prospects for growth and to deliver long term value for our stakeholders worldwide.” Bruce Downey, Chairman and Chief Executive Officer of Barr, said, “Over the past few months since the announcement, the management teams of the companies have been working on plans to ensure a seamless and successful integration. Following the closing of the transaction, the work of combining the strengths and capabilities of both companies will begin. The merger will further enhance Teva’s ability to meet the emerging needs of the global generic pharmaceutical marketplace. We are proud to join the Teva family and believe that the combined company will benefit the healthcare system globally as well as Teva’s shareholders, customers and employees.” On December 23, 2008, Barr became a wholly owned subsidiary of Teva and ceased to be traded on the New York Stock Exchange. Pursuant to the merger agreement between the parties, each share of Barr common stock has been converted into the right to receive $39.90 in cash and 0.6272 Teva ADSs. Share exchange instructions and a letter of transmittal will be mailed to Barr shareholders shortly. As previously announced, Teva expects the acquisition to become accretive in the fourth quarter of 2009.