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Par Pharmaceutical Begins Shipment of Generic Provigil®
Date:4/6/2012

WOODCLIFF LAKE, N.J., April 6, 2012 /PRNewswire/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced that it began shipping all strengths of modafinil tablets, a generic version of Teva's Provigil® brand.  Par's initial shipments will comprise generically-labeled presentations of the Provigil® product.  Par acquired the U.S. marketing rights to modafinil from Teva in connection with Teva's acquisition of Cephalon in 2011.  According to IMS Health data, annual sales in the U.S. for Provigil are approximately $1.1 billion.

Important information about modafinil tablets
Modafinil is a wakefulness-prompting agent for oral administration.  It is indicated to improve wakefulness in adult patients with excessive sleepiness associated with narcolepsy, obstructive sleep apnea (OSA), and shift work disorder.  In OSA, modafinil is indicated as an adjunct to standard treatment(s) for the underlying obstruction.

Modafinil is contraindicated in patients with a known hypersensitivity to modafinil, armodafinil or its inactive ingredients.

About Par Pharmaceutical Companies, Inc.
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 higher-barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals.  For press releases and other company information, visit 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 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.


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