UPDATE 1-Teva makes Q4 net loss on Barr acquisition costs

* Q4 net loss $688 million, or 88 cents per share

* Excluding acquisition costs, net 76 cents/share

* Analyst forecast net excluding items of 73 cents a share

* Co sees greater synergies from acquisition than expected

(Writes through, adds detail)

TEL AVIV, Feb 17 (Reuters) - Teva Pharmaceutical Industries Ltd (TEVA.O) (TEVA.TA), the world's largest generic drugmaker, fell to a net loss in the fourth quarter due to costs associated with its acquisition of rival Barr Pharmaceuticals.

Teva made a fourth-quarter net loss of $688 million, or 88 cents per share, compared with a net profit of $570 million, or 69 cents a diluted share, a year earlier, the company said on Tuesday.

Excluding acquisition costs related to Barr of nearly $1 billion and other one-time items, Teva recorded an 11 percent rise in net profit to $634 million, or 76 cents a diluted share.

Quarterly net sales rose 11 percent to a record $2.8 billion.