Par Pharmaceutical Reports Third-Quarter 20...((20000) (1150) Net Investment ...),Health

Net Investment Loss 4,643 3,773

Branded License Fees and Premium Paid on Equity

Investments 19,150 -

Severance Costs 1,643 7,106

Net Settlements (Gain) Losses (578) 1,502

Write-off of Accounts Receivable Relating to

Invalid Customer Deductions - 9,965

Estimated Tax on Adjustments (1,895) (8,266)

Adjusted Net Income (non-GAAP measure) $48,544 $14,626

Diluted Earnings Per Share:

Reported $1.30 $0.05

Adjusted (non-GAAP measure) $1.39 $0.42

* 2006 amounts represent $3,054 gain on sale of product rights net of

$1,904 loss on the return of inventory from a customer relating to the

same agreement.

Estimated Operating Results for Full Year 2007

ESTIMATED REPORTED GAAP RESULTS FY 2007

(in millions, except per share amounts)

Total Revenue $760 - $780

SG&A $130 - $133

R&D $75 - $80

Reported GAAP EPS (fully diluted) $1.45 - $1.50

Other supplemental information

Depreciation & amortization $24 - $26

Share-based compensation $18 - $20

IMPACT OF NON-GAAP ITEMS FY 2007

(in millions, except per share amounts)

Reported GAAP EPS (fully diluted) $1.45 - $1.50

Severance $2

Branded Milestone Payments $19

High Y
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