BALTIMORE, MD -- (MARKET WIRE) -- 07/21/06 -- The law firm of Brower Piven, A Professional Association, today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Par Pharmaceutical Companies, Inc. (NYSE: PRX) between April 29, 2004 and July 5, 2006, inclusive (the "Class Period").

The case is pending in the United States District Court for the Southern District of New York against defendant Par and one or more of its officers and/or directors. The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may move the court no later than September 15, 2006 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the proposed class you need not take any action at this time, and you may retain counsel of your choice.

If you acquired shares of Par Pharmaceutical Companies, Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. David Brower and Charles Piven have combined experience in securities and class action litigation of over 40 years. You may contact Brower Piven at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@browerpiven.com or by calling 410/986-0036.

CONTACT:
Brower Piven, A Professional Association
Baltimore, Maryland
Charles J. Piven
410/986-0036
Email Contact