Date:10/19/2007

eliefs and expectations of Paramount's or Chem Rx's management and are subject to risks and uncertainties that could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward- looking statements: compliance with government regulations; changes in legislation or regulatory environments; requirements or changes adversely affecting the health care industry, including changes in Medicare reimbursement policies; fluctuations in customer demand; management of rapid growth; intensity of competition; timing, approval and market acceptance of new product introductions; general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in Paramount's filings with the SEC, including its Annual Report on Form 10-KSB for the year ended December 31, 2006. The information set forth herein should be read in light of such risks. Paramount does not assume any obligation to update the information contained in this press release. Additional information concerning the transaction is included in the definitive proxy statement filed by Paramount with the SEC on October 2, 2007, the proxy supplements filed by Paramount with the SEC on October 12, 2007 and October 17, 2007, and the Current Report on Form 8-K originally filed on June 4, 2007, and amended on July 2, 2007, by Paramount with the SEC. STOCKHOLDERS OF PARAMOUNT AND OTHER INTERESTED PERSONS ARE ADVISED TO READ PARAMOUNT'S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO IN CONNECTION WITH THE SOLICITATION OF PROXIES FOR THE SPECIAL MEETING BECAUSE IT CONTAINS IMPORTANT INFORMATION. Such persons may also read Paramount's final prospectus, dated October 21, 2005, as well as its periodic reports for more information about Paramount, its officers and directors and their interests in a successful completion of a business combination. Stockholders may obtain a copy o
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SOURCE Paramount Acquisition Corp. Copyright©2007 PR Newswire. All rights reserved

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