A BRISTOL TENNESSEE PHARMACEUTICAL COMPANY HAS SIGNED A DEFINITIVE MERGER AGREEMENT. THE DEAL BETWEEN KING PHARMACEUTICALS AND ALPHARMA INCORPORATED WILL ALLOW KING TO ACQUIRE ALL OF THE OUSTANDING SHARES OF CLASS “A” COMMON STOCK OF ALPHARMA FOR 37 DOLLARS A SHARE IN CASH FOR A TOTAL EQUITY VALUE OF NEARLY 1.6 BILLION DOLLARS. THE BOARDS OF DIRECTORS OF BOTH COMPANIES HAVE UNANIMOUSLY APPROVED THE TRANSACTION. KING CHAIRMAN, PRESIDENT AND CEO BRIAN MARKISON SAID A PRESS RELEASED THAT KING IS EXCITED ABOUT THE MERGER WHICH WILL CREATE A LEADING SPECIALTY PHARMACEUTICAL COMPANY WITH GREATER SCALE AND CAPABILITIES.KING ANTICIPATES THE TRANSACTION WILL BE COMPLETED BY THE END OF THIS YEAR. HOWEVER, KING’S AMENDED OFFER IS SUBJECT TO CUSTOMARY CONDITIONS.