Kos Pharmaceuticals Reports Continued Double Digit Increase In Revenue, Financial Results In Line With Guidance And Authorization For Up To 7 Million Share Stock Repurchase Program

CRANBURY, N.J.--(BUSINESS WIRE)--May 9, 2006--Kos Pharmaceuticals, Inc. (Nasdaq: KOSP - News): Kos Pharmaceuticals, Inc. (Nasdaq: KOSP - News) today announced financial results for the first quarter ended March 31, 2006. For the first quarter of 2006, reported revenue increased 11% (despite the impact of previously announced inventory management agreements, or IMAs) to $170.8 million, up from $153.3 million for the first quarter of 2005. Adjusted for the reduction in wholesaler inventories of approximately $26.4 million, revenues would have been $197.2 million, an increase of 29% over the same period one year ago.