Spring Valley, New York, March 6, 2006 — Par Pharmaceutical Companies, Inc. (NYSE:PRX) will be presenting at the Lehman Brothers Ninth Annual Global Healthcare Conference on Thursday, March 9, at 4:15 pm EST at The Loews Miami Beach Hotel.

The audio-only live webcast will be accessible through the Lehman Brothers website at http://customer.talkpoint.com/LEHM002/030806a_cs/default.asp?entity=ParPharm or through the Par Pharmaceutical website at http://www.parpharm.com. A replay will be available at the same link address for 30 days after the conference, and will begin within 48 hours after the presentation.

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.

Contacts:
Stephen J. Mock
Cecelia C. Heer
Par Pharmaceutical Companies, Inc.
(201) 802-4000