Spring Valley, New York, July 15, 2003 — Pharmaceutical Resources, Inc. (NYSE:PRX) announced today that two additional patents relating to megestrol acetate oral suspension have been issued by the U.S. Patent Office.

The Patent Office issued to Pharmaceutical Resources U.S. Patent Nos. 6,593,318 and 6,593,320. The patents collectively contain more than 70 additional claims related to Pharmaceutical Resources' novel formulation of megestrol oral suspension. The company now holds four patents relating to megestrol oral suspension. The first two patents, U.S. Patent No. 6,028,065 and U.S. Patent No. 6,268,356 were issued on February 22, 2000 and July 31, 2001, respectively.

Pharmaceutical Resources, Inc., a holding company, develops, manufactures, and distributes generic pharmaceuticals through its wholly owned subsidiary, Par Pharmaceutical. Through its FineTech unit, PRX also develops and utilizes synthetic chemical processes to design and develop intermediate ingredients used in the production of finished products for the pharmaceutical industry. PRX currently manufactures and distributes over 170 products representing various dosage strengths of 63 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.