SPRING VALLEY, N.Y., Dec. 1 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. today announced that the U.S. Food and Drug Administration (FDA) granted tentative approval for the company's Abbreviated New Drug Application (ANDA) for cabergoline tablets. Cabergoline is the generic version of Pfizer's Dostinex(R) and is used for the treatment of hyperprolactinemic disorders. Annual U.S. sales of Dostinex(R) exceed $80 million.
Par is the first generic company to receive a tentative approval for cabergoline and expects to launch the product following expiration of U.S. Patent No. 4,526,892 on December 29, 2005.
A tentative approval reflects the FDA's preliminary determination that a generic product satisfies the substantive requirements for approval, subject to the expiration of any patents or exclusivity periods accorded to the reference listed drug. A tentative approval does not allow the applicant to market the generic product and postpones the final approval until all patent/exclusivity issues have expired.
Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic pharmaceuticals through its principal subsidiary, Par Pharmaceutical. The company is also developing an additional line of branded pharmaceutical products, the first of which is Megace(R) ES, for specialty markets. Par currently manufactures, markets or licenses more than 90 prescription 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.
CONTACT: Stephen J. Mock or Cecelia C. Heer, both of Par Pharmaceutical Companies, Inc., +1-201-802-4000
Web site: http://www.parpharm.com/
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