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Paramount Stockholders Approve Acquisition of Chem Rx
Date:10/22/2007

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.

Contacts:

J. Jay Lobell

Chief Executive Officer & Secretary

Paramount Acquisition Corp.

(212) 554-4522

jlobell@paramountbio.com

Stephanie Carrington / Elizabeth Scott

The Ruth Group

646-536- 7017 / 7014

scarrington@theruthgroup.com

escott@theruthgroup.com


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SOURCE Paramount Acquisition Corp.
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