Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


May 04, 2015 3:46 AM ET

Pharmaceuticals

Company Overview of Par Pharmaceutical Companies Inc.

Company Overview

Par Pharmaceutical Companies, Inc. develops, licenses, manufactures, markets, and distributes generic drugs in the United States. It operates through two segments, Par Pharmaceutical and Par Specialty Pharmaceuticals. The Par Pharmaceutical segment markets generic products under Par Pharmaceutical brand name and sterile products under the Par Sterile brand. This segment also offers dosage forms and delivery systems, including oral solids and alternate dosage forms, such as oral solids, injectables, topicals, nasal sprays, ophthalmics, films, and transdermal patches. In addition, this segment markets pharmaceutical products, including Exforge, Lovaza, Precedex, Lamictal XR, Luvox CR, and Foca...

One Ram Ridge Road

Chestnut Ridge, NY 10977

United States

Founded in 1978

1,600 Employees

Phone:

845-573-5500

Key Executives for Par Pharmaceutical Companies Inc.

Chief Executive Officer, Director and Chief Executive Officer of Sky Growth Holdings Corporation
Age: 52
Chief Financial Officer, Executive Vice President, Treasurer and Director
Age: 56
Chief Operating Officer
Age: 48
Chief Commercial Officer
Age: 57
Secretary and Deputy General Counsel
Compensation as of Fiscal Year 2014.

Par Pharmaceutical Companies Inc. Key Developments

Par Pharmaceutical Companies Inc., Q4 2014 Earnings Call, Mar 13, 2015

Par Pharmaceutical Companies Inc., Q4 2014 Earnings Call, Mar 13, 2015

Par Pharmaceutical Companies Inc. and Par Pharmaceutical Inc. Enter into Amendment No. 6 to the Amended Credit Agreement

On February 20, 2015, Par Pharmaceutical Companies Inc. entered into amendment No. 5 among the company, the lenders party thereto, and Bank of America, N.A., as administrative agent, which amends the exiting credit agreement dated as of September 28, 2012, as amended by amendment No. 1, dated as of February 6, 2013, amendment No. 2, dated as of February 20, 2013, amendment No. 3, dated as of February 28, 2013, and amendment No. 4, dated as of February 20, 2014, among the company, its subsidiary, Par Pharmaceutical Inc., Sky Growth Intermediate Holdings II Corporation, certain subsidiaries of the company party thereto, Bank of America, as administrative agent, swing line lender and L/C issuer, each lender from time to time party thereto, and the other parties from time to time party thereto. On February 25, 2015, the company entered into amendment No. 6 among the borrowers, holdings, certain subsidiaries of the company party thereto, Bank of America, as administrative agent and incremental term lender. Amendment No. 5, which was effective as of February 25, 2015, increased the first lien net leverage levels included in the financial maintenance covenant, which covenant only applies to the extent there are revolving loans, swing line loans or letters of credit outstanding. Amendment No. 6 authorized the funding of a new tranche of term loans in an aggregate principal amount of $425 million. The terms of term B-3 loans are substantially the same as the terms of the existing term B-2 loans, except that the interest rate margins applicable to term B-3 loans are 3.25% for LIBOR and 2.25% for base rate, a 25 basis point increase compared to the term B-2 loans and the term B-3 loans are subject to a soft call provision applicable to the optional prepayment of the loans which requires a premium equal to 1.00% of the aggregate principal amount of the loans being prepaid if, on or prior to August 25, 2015, the company enters into certain re-pricing transactions. Additionally, all voluntary and mandatory prepayments of outstanding term loans must be made pro rata among the term B-3 loans and the term B-2 loans. Borrowings under the term B-3 loans were used to pay a $494.3 million cash dividend to stockholders of the indirect parent of the company.

Par Pharmaceutical Companies Inc. Provides Earnings Guidance for the Year Ended December 31, 2014

Par Pharmaceutical Companies Inc. provided earnings guidance for the year ended December 31, 2014. For the year, the company anticipates recording revenue of $1,309 million, net loss of $97 million, EBITDA of $183 million and adjusted EBITDA of $473 million.

Similar Private Companies By Industry

Company Name Region
La Haye Laboratories, Inc. United States
Apovia, Inc. United States
CIBA Vision Ophthalmics Inc. United States
The Mentholatum Company, Inc. United States
Roche Palo Alto, LLC United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 8, 2014
Par Pharmaceuticals, Inc., Three Soft Gel ANDA Products
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Par Pharmaceutical Companies Inc., please visit www.parpharm.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.