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Strativa Pharmaceuticals, the Proprietary Products Division of Par Pharmaceutical, Provides an Update on Development Status of Pafuramidine and Other in-Licensed Products
Date:12/28/2007

iance may receive milestone payments on future sales.

Zensana(TM) (ondansetron HCI) Oral Spray:

In August 2007, Par Pharmaceutical, Inc. acquired the North American commercial rights to Zensana(TM) from Hana Biosciences, Inc. Ondansetron is used to prevent nausea and vomiting after chemotherapy, radiation and surgery. Following successful development and approval, Zensana(TM) could be among the first in its class of 5-HT3 antagonist anti-emetic therapies to be available in an oral spray form.

Under a development agreement with Novadel Pharma, Inc., Par has completed its reformulation of Zensana(TM) and is preparing for the requisite studies to reconfirm the product's pharmacokinetic profile and confirm stability acceptability. These studies are expected to be completed by the end of 2008 with an NDA to be filed shortly thereafter.

In return for the North American commercial rights to Zensana(TM), Par made a $5 million equity investment in Hana. In addition, Hana may receive future milestone payments and royalties on future sales of the product.

John MacPhee, president of Strativa Pharmaceuticals, said, "We are excited about our current pipeline and look forward to bringing these innovative treatment options to patients and their healthcare providers. In addition, we will continue to pursue products that leverage our commercial presence and expertise in supportive care in oncology and AIDS."

About Strativa

Strativa Pharmaceuticals is the proprietary products division of Par Pharmaceutical, Inc. Supported by Par's financial and organizational capabilities including substantial cash resources, Strativa Pharmaceuticals is committed to developing and marketing novel prescription drugs. Its initial focus is on supportive care therapeutics in HIV and oncology. Drawing on the specialty products expertise of its staff, Strativa possesses the resources to prepare products for introduction and to help ensure their success after
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SOURCE Par Pharmaceutical Companies, Inc.
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