Teva Pharmaceutical Industries, an Israeli-based pharmaceutical company, announced today that it has signed an agreement to buy Barr Pharmaceuticals, a New Jersey-based company whose Bedford County plant is the county’s largest employer.

The purchase price of Barr Pharmaceuticals will total about $7.46 billion and Teva will also assume net debt of about $1.5 billion.

Bill Hoy, spokesman for Bedford County, said early conversations with company officials suggest the acquisition should not affect the plant in Forest.

When a company acquires another in the same industry, operations often consolidate and individual plants sometimes close.

If that happened, Hoy said, "It would be major. But we do not anticipate that will happen."

In January, the Bedford County operation, which has been described as one of Barr’s strongest performers, employed about 500 people. That month, Barr  announced plans to expand in Forest and add employees.

"As far as we know, the expansion will proceed," Hoy said.

Company officials have not yet responded to phone calls.