Barr Announces 4 Year Contract Agreement with PACE

Apr 02, 2001, 01:00 ET from Barr Laboratories, Inc.

    POMONA, N.Y., April 2 /PRNewswire/ -- Barr Laboratories, Inc. (NYSE:   BRL)
 today announced that it has reached agreement on a new, 4-year contract with
 Local 1-149 of the Paper, Allied-Industrial, Chemical and Energy Workers
 International Union (PACE).  Agreement on the new contract was reached
 following round-the-clock bargaining on Friday.  A ratification vote by the
 PACE membership was held on Saturday.
     The new contract provides wage increases during the 4-year agreement of
 16-20%, depending on job classification.  The contract also maximizes the
 Company's ability to more flexibly align its workforce to meet changing
 business needs.
     "We are very pleased with this agreement," said Bruce L. Downey, Barr's
 Chairman and CEO.  "We believe the economic component of the contract
 recognizes the contribution of our unionized employees in the Company's
 growth, and provides incentives for workers to continue to acquire more skills
 and progress through more responsible and higher paying positions."
     The Company said the PACE workforce accounts for approximately
 85 employees, of which approximately 60 are directly involved in manufacturing
 at the Company's New York and New Jersey operations.  The Company employs more
 than 650 employees at its New York, New Jersey and Virginia facilities.
     Barr Laboratories, Inc. is a specialty pharmaceutical company engaged in
 the development, manufacture and marketing of generic and proprietary
 pharmaceuticals.
 
     To the extent that any statements made in this release contain information
 that is not historical, these statements are essentially forward-looking.
 These statements are subject to risks and uncertainties that cannot be
 predicted or quantified and, consequently, actual results may differ
 materially from those expressed or implied by such forward-looking statements.
 Such risks and uncertainties include: the timing and outcome of legal
 proceedings; the timing and outcome of discussions with the Securities and
 Exchange Commission (SEC); the difficulty of predicting the timing of U.S.
 Food and Drug Administration ("FDA") approvals; the difficulty in predicting
 the timing and outcome of FDA decisions on patent challenges; market and
 customer acceptance and demand for new pharmaceutical products; ability to
 market proprietary products; the impact of competitive products and pricing;
 timing and success of product development and launch; availability of raw
 materials; the regulatory environment; fluctuations in operating results; and,
 other risks detailed from time-to-time in the Company's filings with the
 Securities and Exchange Commission. Forward-looking statements can be
 identified by the use of words such as "expects," "plans," "will," "believes,"
 "estimates," "intends," "may" and other words of similar meaning.  Should
 known or unknown risks or uncertainties materialize, or should our assumptions
 prove inaccurate, actual results could vary materially from those anticipated.
 The Company undertakes no obligation to publicly update any forward-looking
 statements.
 
 

SOURCE Barr Laboratories, Inc.
    POMONA, N.Y., April 2 /PRNewswire/ -- Barr Laboratories, Inc. (NYSE:   BRL)
 today announced that it has reached agreement on a new, 4-year contract with
 Local 1-149 of the Paper, Allied-Industrial, Chemical and Energy Workers
 International Union (PACE).  Agreement on the new contract was reached
 following round-the-clock bargaining on Friday.  A ratification vote by the
 PACE membership was held on Saturday.
     The new contract provides wage increases during the 4-year agreement of
 16-20%, depending on job classification.  The contract also maximizes the
 Company's ability to more flexibly align its workforce to meet changing
 business needs.
     "We are very pleased with this agreement," said Bruce L. Downey, Barr's
 Chairman and CEO.  "We believe the economic component of the contract
 recognizes the contribution of our unionized employees in the Company's
 growth, and provides incentives for workers to continue to acquire more skills
 and progress through more responsible and higher paying positions."
     The Company said the PACE workforce accounts for approximately
 85 employees, of which approximately 60 are directly involved in manufacturing
 at the Company's New York and New Jersey operations.  The Company employs more
 than 650 employees at its New York, New Jersey and Virginia facilities.
     Barr Laboratories, Inc. is a specialty pharmaceutical company engaged in
 the development, manufacture and marketing of generic and proprietary
 pharmaceuticals.
 
     To the extent that any statements made in this release contain information
 that is not historical, these statements are essentially forward-looking.
 These statements are subject to risks and uncertainties that cannot be
 predicted or quantified and, consequently, actual results may differ
 materially from those expressed or implied by such forward-looking statements.
 Such risks and uncertainties include: the timing and outcome of legal
 proceedings; the timing and outcome of discussions with the Securities and
 Exchange Commission (SEC); the difficulty of predicting the timing of U.S.
 Food and Drug Administration ("FDA") approvals; the difficulty in predicting
 the timing and outcome of FDA decisions on patent challenges; market and
 customer acceptance and demand for new pharmaceutical products; ability to
 market proprietary products; the impact of competitive products and pricing;
 timing and success of product development and launch; availability of raw
 materials; the regulatory environment; fluctuations in operating results; and,
 other risks detailed from time-to-time in the Company's filings with the
 Securities and Exchange Commission. Forward-looking statements can be
 identified by the use of words such as "expects," "plans," "will," "believes,"
 "estimates," "intends," "may" and other words of similar meaning.  Should
 known or unknown risks or uncertainties materialize, or should our assumptions
 prove inaccurate, actual results could vary materially from those anticipated.
 The Company undertakes no obligation to publicly update any forward-looking
 statements.
 
 SOURCE  Barr Laboratories, Inc.

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http://www.barrlabs.com