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Par Pharmaceutical Reports Fourth Quarter and Full Year 2007 Results
Date:2/29/2008

iscontinued operations did not consider the impact of interest expense. The related impact of the restatement errors on the Company's consolidated financial statements is detailed in the Company's 2007 Annual Report on Form 10-K filed on February 29, 2008.

Net Income

Par reported net income for the fourth quarter ended December 31, 2007 of $4.3 million, or $0.12 per diluted share. This is compared with reported net income of $4.2 million, or $0.12 per diluted share, for the same period in 2006. For the full year 2007, net income was $49.9 million, or $1.43 per diluted share. This is compared with reported net income of $5.8 million, or $0.16 per diluted share, for the full year 2006.

Stock Repurchase Program

On September 28, 2007, Par announced that its Board of Directors had authorized the repurchase of up to $75 million of the Company's common stock. Since October 1, 2007, Par has repurchased 1,643,094 shares of its common stock at a total cost of $31.4 million.

Conference Call

Par has scheduled a conference call for Monday, March 3 at 9:00 am EST to discuss results for the fourth quarter and full year 2007. Par invites investors and the general public to listen to a webcast of the conference call. Access to the live webcast can be made via the Company's website at http://www.parpharm.com and will be available for at least 30 days. The dial- in number is 888-680-0878 for domestic callers and 617-213-4855 for international callers. The access number is 77261817. A replay of the conference call will be available commencing approximately one hour after the call. The replay dial-in number is 888-286-8010 for domestic callers and 617-801-6888 for international callers. The access number is 24523915.

For a copy of Par's 2007 Annual Report on Form 10-K, visit Investors/SEC Filings on the Par web site at http://www.parpharm.c
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SOURCE Par Pharmaceutical Companies, Inc.
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