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Par Pharmaceutical Companies Reports Second Quarter 2011 Results
Date:8/3/2011

nd quarter of 2011 compared to $10.7 million in the first quarter.  The decrease was due to lower generic development costs.
  • Selling, general and administrative expenses for the second quarter 2011 decreased to $46.2 million compared to $46.9 million in the first quarter of 2011.  The decrease reflects lower employment costs.

  • Cash and cash equivalents and marketable securitiesThe aggregate balance as of June 30, 2011 was approximately $346 million.

    Product and Pipeline UpdateIn July, Strativa Pharmaceuticals returned the U.S. commercialization rights of Zuplenz® to its development partner, MonoSol Rx, as part of the branded division's restructuring announced in June.

    In July, the Company received a notice letter from a generic pharmaceutical manufacturer, advising that it has filed an Abbreviated New Drug Application with the U.S. FDA containing a Paragraph IV certification referencing Megace® ES.   Megace® ES is protected by Elan Pharma International Limited's U.S. Patents 6,592,903 and 7,101,576.  The Company intends, with Elan, to investigate the Paragraph IV certification and ANDA, and to enforce its patents, which expire in 2020 and 2024, respectively, as appropriate.

    Par Pharmaceutical, along with third-party partners, currently has approximately 31 ANDAs pending with the FDA, 13 of which it believes to be first-to-file opportunities.

    Conference CallAccess to the live webcast can be made via the Company's website at www.parpharm.com.

    Dial-in InformationDomestic:

    866-362-4832International:

    617-597-5364Passcode:

    55151925A replay of the conference call will be available for two weeks approximately one hour after the call.  

    Replay InformationDomestic:

    888-286-8010International:

    617-801-6888Passcode:

    90475213Non-GAAP MeasuresPar Pharma
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    SOURCE Par Pharmaceutical Companies, Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

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