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Par Pharmaceutical Announces the Resignation of Its Chief Financial Officer

WOODCLIFF LAKE, N.J., June 4 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced the resignation of Lawrence A. Kenyon, executive vice president and chief financial officer, effective June 30, 2010, to pursue other opportunities.  Michael A. Tropiano, Par's Treasurer, will replace Mr. Kenyon.

Mr. Tropiano, 52, joined Par in August 2005 as Vice President and Treasurer.  During his tenure, Mr. Tropiano has led several initiatives including building a Financial, Planning and Analysis team, developing the Company's three-year strategic plan, as well the early redemption of the Company's convertible debentures.  Prior to joining Par, Mr. Tropiano served as Vice President and Corporate Treasurer of MedPointe Pharmaceuticals from 2001-2005 and Assistant Treasurer at Carter–Wallace, Inc. from 1984-2001.  He began his career as a treasury analyst at Orange and Rockland Utilities.  Mr. Tropiano received his Masters of Business Administration in Finance from Fordham University and a Bachelors of Arts in Economics from Siena College.  He is also a Chartered Financial Consultant.

About Par Pharmaceutical

Par Pharmaceutical Companies, Inc. is a U.S.-based specialty pharmaceutical company. Through its wholly-owned subsidiary's two operating divisions, Par Pharmaceutical and Strativa Pharmaceuticals, it develops, manufactures and markets high barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals.  For press release and other company information, visit

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 most recent Annual Report on Form 10-K in other of the Company's filings with the SEC from time to time, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and on general industry and economic conditions.  Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.

SOURCE Par Pharmaceutical Companies, Inc.
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