Par Pharmaceutical Begins Shipment of Generic Zegerid®

WOODCLIFF LAKE, N.J., July 1 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced that it began shipping the 20mg/1100mg and 40mg/1100mg strengths of omeprazole and sodium bicarbonate capsules to the trade. Omeprazole and sodium bicarbonate capsules are the generic version of Santarus’ Zegerid®. Annual U.S. sales of Zegerid capsules are approximately $195 million, according to IMS Health data. Par has been awarded 180 days of marketing exclusivity for being the first to file an ANDA containing a paragraph IV certification for these strengths of the product.

On April 14, 2010, the District Court of Delaware held that the patents covering Zegerid are invalid. The case is currently on appeal at the Court of Appeals for the Federal Circuit.

Important information about omeprazole and sodium bicarbonate capsules

Omeprazole and sodium bicarbonate is a combination of omeprazole, a proton-pump inhibitor, and sodium bicarbonate, an antacid.  

Omeprazole and sodium bicarbonate is indicated for the short-term treatment of duodenal ulcer, the short-term treatment (4-8 weeks) of active benign gastric ulcer, the treatment of heartburn and other symptoms associated with Gastroesophageal Reflux Disease (GERD) and short-term treatment (4-8 weeks) of erosive esophagitis which has been diagnosed by endoscopy.

About Par Pharmaceutical Companies, Inc.

Par Pharmaceutical Companies, Inc. is a U.S.-based specialty pharmaceutical company. Through its wholly-owned subsidiary's two operating divisions, Par Pharmaceutical and Strativa Pharmaceuticals, it develops, manufactures and markets higher-barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals. For press releases and other company information, visit www.parpharm.com.

Safe Harbor Statement

Certain statements in this news 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, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Risk factors that might affect such forward-looking statements include those set forth in Item 1A of the Company’s most recent Annual Report on Form 10-K in other of the Company’s filings with the SEC from time to time, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and on general industry and economic conditions. Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.

SOURCE Par Pharmaceutical Companies, Inc.