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Barr Executive Leaving for Watson

August 9, 2007

The president and chief operating officer (COO) of Barr Pharmaceuticals, Paul Bisaro, will be leaving the company to become president and CEO of Watson Pharmaceuticals effective Sept. 4, according to the companies’ Aug. 2 announcements.

Allen Chao, Watson’s founder and current president and CEO, will remain chairman of the board through the end of the year and will then assume the role of executive chairman, the company said.

Bisaro had been COO at Barr since 1999. “Watson is an industry leader in specialty pharmaceuticals and is well positioned for continued growth,” he said. “I look forward to continuing that tradition of success by executing on the current strategies, as well as identifying new opportunities to further build value for Watson’s shareholders and employees.”

At Barr, Chairman and CEO Bruce Downey will assume the responsibilities of president and COO on an interim basis. “We regret that Paul has accepted a position with Watson Pharmaceuticals,” Downey said. “I can understand his desire to assume a position of higher visibility and responsibility, and I wish him well.”

Barr said it is confident Bisaro’s departure will not have a negative effect on U.S. or international operations, nor will it delay or hamper the nearly completed integration of Pliva, which Barr acquired last year.