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NEW YORK (AP) -- A director of generic drug maker Par Pharmaceutical Companies Inc. bought 50,000 shares of common stock, according to a Securities and Exchange Commission filing Wednesday. In a Form 4 filed with the SEC, Joseph E. Smith reported he bought the shares on Wednesday for $18.45 apiece. Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction. Par Pharmaceutical is based in Woodcliff Lake, N.J.
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