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Pharmaceutical Resources' Loratidine 10 Mg OTC to Commence Marketing Shortly.

Pharmaceutical Resources, Inc. and its partners Genpharm and Leiner Health Products, Friday received a final appellate court decision regarding loratidine 10 mg. This court ruling allows the product to begin marketing once FDA issues final approval, which is anticipated shortly.

Par Pharmaceutical, Inc., the principal subsidiary of Pharmaceutical Resources, Inc., and Genpharm licensed the product to Leiner Health Products, a leading OTC marketing organization. Leiner will be the principal marketer of the product and Par will have selective marketing rights. Under the terms of the agreement, Par shares both a license fee and a royalty. Loratidine 10 mg OTC is indicated for the relief of symptoms associated with seasonal allergic rhinitis.

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, including those concerning management's expectations with respect to future events or future financial performance. Any such statements that refer to PRX's anticipated future results, product performance, release date of future products, or other non-historical facts are forward-looking and reflect PRX's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the uncertainty associated with complex litigation, including the eventual outcome and litigation costs and expenses incurred along the way, the success of PRX's product development activities, and the timeliness with which regulatory authorizations and product introductions may be achieved, market acceptance of PRX's products, the availability of raw materials on commercially reasonable terms, successful compliance with extensive, costly, complex, and evolving governmental regulations and restrictions, exposure to product liability, and other risks and uncertainties detailed in PRX's filings with the Securities and Exchange Commission, such as the Company's Form 10-K, Form 10-Q, and Form 8-K reports.

CONTACT: Scott Tarriff, President and Chief Executive Officer of Par Pharmaceutical, Inc., +1-201-802-4000

Web site: http://www.parpharm.com/
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Publication:PR Newswire
Geographic Code:1USA
Date:Aug 4, 2003
Words:404
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