Strativa's Development Partner, BioAlliance Pharma, Submits Loramyc(R) NDA

WOODCLIFF LAKE, N.J., June 16 /PRNewswire-FirstCall/ -- Strativa
Pharmaceuticals, the proprietary products division of a wholly owned
subsidiary of Par Pharmaceutical Companies, Inc. (NYSE: PRX), today announced
that its development partner, BioAlliance Pharma, has submitted a New Drug
Application (NDA) to the Food and Drug Administration (FDA) for Loramyc(R)
(miconazole Lauriad(R)) 50mg mucoadhesive buccal tablets, as planned. If
approved, Strativa could launch Loramyc in the second half of 2010.

Loramyc (miconazole Lauriad(R)), an innovative antifungal therapy for the
treatment of oropharyngeal candidiasis, was approved in the European Union in
2007 and is currently marketed in several EU territories.

About Strativa Pharmaceuticals
Strativa Pharmaceuticals is the proprietary products division of Par
Pharmaceutical, Inc. Strativa is committed to developing and marketing novel
prescription drugs. Its initial focus is on supportive care therapeutics in
HIV and oncology. Drawing on the specialty products expertise of its staff,
Strativa possesses the resources to prepare products for commercialization and
to help ensure their success after launch. For additional information, please
visit www.strativapharma.com.

About Par Pharmaceutical
Par Pharmaceutical, Inc. develops, manufactures and markets generic drugs and
innovative branded pharmaceuticals for specialty markets. For press release
and other company information, visit www.parpharm.com.

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forward-looking statements include those set forth in Item 1A of the Company's
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contrary, the Company assumes no obligation to update any forward-looking
statements.

SOURCE Par Pharmaceutical Companies, Inc.

Investor contact, Allison Wey, Investor Relations and Corporate Affairs, Par
Pharmaceutical Companies, Inc., +1-201-802-4000