SPRING VALLEY, N.Y., Dec. 6 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. today announced that it began shipping potassium chloride 20mEq tablets. Potassium chloride 20mEq is the generic equivalent of Key Pharmaceutical’s K-Dur(R) 20 tablet, a potassium supplement used in the treatment of hypokalemia, digitalis intoxication and hypokalemic familial periodic paralysis. The U.S. market for potassium chloride 20mEq is approximately $130 million.
Under the terms of the agreement, Par has exclusive rights to market, sell and distribute Eurand’s potassium chloride 20mEq tablets in the U.S. Eurand is responsible for manufacturing, and will receive an upfront license fee and a share of the profits from sales of the product. Eurand received final approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for potassium chloride 20mEq tablets in the third quarter of 2004.
Eurand is a specialty pharmaceutical company that develops enhanced pharmaceutical and biopharmaceutical products based on its proprietary drug delivery technologies. Eurand specializes in bioavailability enhancement of poorly soluble drugs utilizing its Biorise(R) platform, modified release and taste masking and is currently developing a pipeline of products based on its proprietary technologies. Eurand also works with many of the world’s leading pharmaceutical and biotechnology companies to develop enhanced forms of their existing products and development compounds. Eurand’s headquarters are located in Milan, Italy while Eurand’s U.S. operating offices are in Vandalia, Ohio. For more information on Eurand, visit http://www.eurand.com/
Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic pharmaceuticals through its principal subsidiary, Par Pharmaceutical, Inc., and its recently acquired subsidiary, Kali Laboratories, Inc. The company is also developing an additional line of branded pharmaceutical products for specialty markets and expects to introduce the first of these in 2005. Through its FineTech subsidiary, Par also develops and utilizes synthetic chemical processes to design and develop intermediate ingredients used in the production of finished products for the pharmaceutical industry. Par currently manufactures, markets or licenses more than 80 prescription drugs. For press release and other company information, visit http://www.parpharm.com/ .
Certain statements in this press 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 are subject to risks and uncertainties, including the difficulty of predicting FDA filings and approvals, acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, uncertainty of patent litigation filed against us, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission, such as the Company’s Form 10-K, Form 10-Q, and Form 8-K reports.
Par Pharmaceutical Companies, Inc.
CONTACT: Stephen J. Mock or Cecelia C. Heer, both of Par PharmaceuticalCompanies, Inc., +1-201-802-4000
Web site: http://www.parpharm.com/
