Par Pharmaceutical Reports Fourth Quarter and Full Year 20...(iscontinued operations did not consider ...),Health

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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