Spring Valley, New York, May 25, 2006 — Par Pharmaceutical Companies, Inc. (NYSE:PRX) will be presenting at the 2006 Friedman Billings Ramsey Growth Investor Conference on Thursday, June 1, at 10:30 am EDT at The Grand Hyatt New York.

The audio-only live webcast will be accessible through the Friedman Billings Ramsey website at www.fbr.com/growth06/ or through the Par Pharmaceutical website at http://www.parpharm.com. A replay will be available at the same link address for 60 days after the conference, and will begin immediately after the presentation.

Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. In 2005, Par received approval for and introduced the appetite stimulant, Megace^® ES, its first branded pharmaceutical product. Par's Generic Products Division is committed to providing high-quality pharmaceuticals that are affordable and accessible to patients. Par manufactures, markets or licenses more than 110 generic drugs. For press release and other company information, visit http://www.parpharm.com.

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