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Par Pharmaceutical Reports Third Quarter 2008 Results
Date:11/6/2008

ng costs in the fourth quarter of 2008. The Company will record a gain of approximately $5 million, after tax, in the fourth quarter of 2008 related to this debt extinguishment.

Conference Call

Par has scheduled a conference call for Friday, November 7 at 9:00 am EST to discuss results for the third quarter of 2008. 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.

The dial-in numbers for the conference call will be 888-713-4214 for domestic callers and 617-213-4866 for international callers. The passcode is 32232063. A replay of the conference call will be available for two weeks approximately one hour after the call. The dial-in numbers for the replay are 888-286-8010 for domestic callers and 617-801-6888 for international callers. When prompted, the passcode is 59063488.

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 http://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
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SOURCE Par Pharmaceutical Companies, Inc.
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