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Par Pharmaceutical Begins Shipment of Budesonide Inhalation Suspension Immediately
Date:11/19/2008

WOODCLIFF LAKE, N.J., Nov. 19 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced that it has entered into a supply and distribution agreement with AstraZeneca in the U.S. to market budesonide inhalation suspension, which is a generic form of AstraZeneca's Pulmicort Respules(R) indicated for the maintenance treatment of asthma. Par began shipping 0.25 mg/2 ml and 0.5 mg/2 ml to the trade today.

Full-year US sales for PULMICORT(R) in 2007 totalled $964 million, about 90 percent of which is accounted for by PULMICORT RESPULES(R).

Important information about budesonide inhalation suspension

Budesonide inhalation suspension is indicated for the maintenance treatment of asthma and as prophylactic therapy in children 12 months to 8 years of age.

Budesonide inhalation suspension is not indicated for the relief of acute bronchospasm.

Budesonide inhalation suspension is contraindicated as the primary treatment of status asthmaticus or other acute episodes of asthma where intensive measures are required. Hypersensitivity to budesonide or any of the ingredients of this preparation contraindicates the use of budesonide inhalation suspension.

Please read full prescribing information available at www.parpharm.com/products.

About Par Pharmaceutical Par Pharmaceutical, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. For press release and other company information, visit www.parpharm.com.

Safe Harbor Statement

Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward- looking and, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Risk factors that might affect such forward-looking statements include those set forth in Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2007, in Item 1A of the Company's subsequent Quarterly Reports on Form 10-Q, in other of the Company's filings with the SEC from time to time, including Current Reports on Form 8-K, and on general industry and economic conditions. Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.


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SOURCE Par Pharmaceutical Companies, Inc.
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