Generic-Drug Deal Boosts Fort Lee, N.J.-Based Alpharma.

Byline: Lewis Krauskopf

Dec. 20--Ingrid Wiik discovered quickly that Wall Street was a long way from her native Norway.

Since Wiik became chief executive officer of Alpharma Inc. nearly two years ago, shares of the Fort Lee-based drug maker have ridden a roller coaster. After little contact with investors in previous management jobs at Alpharma, Wiik found herself having to break disappointing earnings news only a few months into her post.

"It has been a rough learning curve," said Wiik (pronounced VEEK) in lilting Scandinavian tones during a recent interview in her Fort Lee office.

But investors are giving rave reviews to Wiik and Alpharma's latest move -- an acquisition that stands to transform the company and balloon its New Jersey presence.

Last week, Alpharma completed its $660 million purchase of F.H. Faulding's generic capsules and …