Court rules against Par in Pentech litigation

New Jersey, USA-based Par Pharmaceutical says that, on February 9, following a bench trial, the district court entered a judgment in favor  of Pentech Pharmaceuticals and against itself in the amount of  $69,955,476. As a result of the decision, Par will accrue additional  reserves of around $28.0 million on an after-tax basis in the fourth  quarter of 2008.

As previously disclosed, on May 3, 2004, Pentech filed an action against  the company in the US District Court for the Northern District of  Illinois. This action alleged that Par breached its contract with  Pentech relating to the supply and marketing of paroxetine (brand name  Paxil). Par and its counsel  are considering the company's options for  appeal.