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John A. MacPhee Resigns From Strativa Pharmaceuticals


12/17/2010 10:32:24 AM

WOODCLIFF LAKE, N.J., Dec. 17, 2010 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) announced today that John A. MacPhee, has resigned his positions as President of Strativa Pharmaceuticals and Executive Vice President of Par Pharmaceutical Companies to pursue other interests effective January 31, 2011. Patrick G. LePore, Par Pharmaceutical Companies, Chairman, CEO and President, will assume day-to-day oversight of Strativa on an interim basis.

Patrick G. LePore states, "In six years, John has successfully built a valuable platform and product portfolio that establishes Strativa as one of the best positioned young specialty companies in the industry. I thank him for his many contributions and wish him well in his future pursuits." Mr. LePore continues, "We remain fully committed to the business model and to driving growth in both our generic and branded divisions."

About Strativa Pharmaceuticals

Strativa Pharmaceuticals, the proprietary products division of a wholly owned subsidiary of Par Pharmaceutical Companies, Inc. (NYSE: PRX), excels at finding, enhancing, and bringing to market drugs that make a meaningful difference to patients. For more information about Strativa, visit www.strativapharma.com.

About Par Pharmaceutical Companies

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.

SOURCE Par Pharmaceutical Companies, Inc.


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