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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 tha
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