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Par Pharmaceutical Enters Into Agreement With Reliant Pharmaceuticals to Settle Patent Litigation Over Rythmol(R) SR
Date:4/21/2009

WOODCLIFF LAKE, N.J., April 21 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) ("Par") today announced it has entered into a settlement agreement with Reliant Pharmaceuticals, Inc. ("Reliant") that resolves patent litigation related to Reliant's Rythmol(R) SR product, thereby eliminating the inherent uncertainty and costs of litigation.

Under the terms of the settlement, Par will have the right to introduce a generic version of Rythmol(R) SR on January 1, 2011, or earlier under certain circumstances. Propafenone extended release capsules are indicated to prolong the time to recurrence of symptomatic atrial fibrillation in patients without structural heart disease. The use of Propafenone ER capsules in patients with permanent atrial fibrillation or in patients exclusively with atrial flutter or PSVT has not been evaluated. Propafenone ER capsules should not be used to control ventricular rate during atrial fibrillation. The effect of Propafenone ER capsules on mortality has not been determined. Rythmol(R) SR had combined U.S. sales of approximately $119 million for the twelve months ended September 2008, according to IMS Health.

In accordance with the settlement agreement, all ongoing patent litigation between Reliant Pharmaceuticals and Par Pharmaceutical, Inc., in the U.S. District Court for the District of Delaware, has been dismissed.

About Par

Par Pharmaceutical Companies, 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.

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SOURCE Par Pharmaceutical Companies, Inc.
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