(10-02) 09:33 PDT (AP) --
WOODCLIFF LAKE, N.J. (Dow Jones/AP) -- Barr Laboratories Inc. said Thursday it agreed to acquire the emergency contraceptive known as Plan B, or the "morning-after pill" and other assets of privately held Women's Capital Corp.
Terms were not disclosed.
Women's Capital, based in Washington, D.C., was organized in 1997 to develop and sell Plan B. It has been financed mostly by foundations, according to its Web site.
"The agreement promises increased access for women to this important reproductive health care option," said Ellen Chesler, chairman of Women's Capital Corporation.
Chesler said Barr would continue Women's Capital's efforts to seek over-the-counter status for Plan B.
The deal is expected to close within the next six weeks.
Plan B can be used to prevent pregnancy following unprotected intercourse or contraceptive failure. To be effective, it must be taken within 72 hours.
Barr Labs already makes 15 generic oral contraceptives.
Barr Labs spokeswoman Carol Cox estimated that Plan B had sales of slightly over $10 million last year.
In 2002, Woodcliff-based Barr earned $167.6 million on sales of $902.9 million.
