| Par Pharmaceutical Companies, Inc. develops, manufactures, and markets generic drugs and innovative branded pharmaceuticals for specialty markets.
In July 2005, Par received approval for and introduced Megace ES, the company's first branded pharmaceutical product. We expect to launch our second branded product some time in 2006.
Our Generic Products Division is committed to providing high-quality pharmaceuticals that are affordable and accessible to patients. Par ranks fifth in sales among all U.S. generic companies, according to IMS Health. We currently manufacture, market, or license more than 110 prescription drug products.
Par has 59 products awaiting FDA approval and more than 60 other products in various stages of development. In 2005 the company completed the integration of Kali Laboratories, Inc. into the Par structure, which significantly increased Par's generic research and development capabilities. With the acquisition and integration of Kali Laboratories, Par now has one of the most promising new product pipelines in the generic drug industry. Par's generic drug portfolio includes central nervous system, cardiovascular, anti-inflammatory, gastrointestinal, and anti-infective therapeutics.
The company has focused on developing products with limited competition and longer life cycles. Par's strategy of aggressive business development, including creative alliances and acquisitions, has successfully complemented its steadily increasing investment in internal research and development.
Par encourages innovation among its employees, in its relationships with partners and customers, and in the ways the Company approaches future opportunities. We take pride in our business agility and ingenuity. We have built novel relationships with a range of partner companies, helping us to bring high-quality products to our customers and to patients quickly and cost-effectively in the rapidly evolving US pharmaceutical marketplace.
Detailed information about Par Pharmaceutical Companies, Inc. (NYSE: PRX) for investors and for the media is provided elsewhere on this web site. A current "fact sheet" about Par is also available.
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