PRX

[mrmarket]

$$$MR. MARKET$$$ Loves PRX
by: mr_market63 (43/M)
Long-Term Sentiment: Strong Buy 09/18/03 03:27 pm
Msg: 6429 of 6458

I’m so depressed. The Red Sox once again have failed to take the AL East title. I think I’ll reach for some Serzone. Oooops..I can’t even do that because I lost all my money betting on the Red Sox. But there is a solution. I will ingest a generic version of Serzone, called Nefazodone. It’s cheap and it works great. Wow! I’m happy already.

Today I bought Par Pharmaceutical (PRX) at 72. I will sell it in 4 to 6 weeks at 83. Here’s why I like PRX:

Pharmaceutical Resources (PRX) is a holding company which, through its subsidiaries, develops and markets a broad line of generic drugs in the U.S.; develops and makes in small quantities complex synthetic active pharmaceutical ingredients.

PRX’s stock is up 283% over the last 12 months yet its PE is a very modest 27. This is a great value for the pumped up drug industry. In fact, the Value of $10,000 invested five years ago in PRX would be $ 167,875. Ladies and germs, it’s still not too late to get in. Here’s why:

How do generic drugs work? Simple…it’s like sitting next to the smart kid during the Thermodynamics final exam. Your work isn’t necessarily original, but you end up with the same grade when you get your report card. Isn’t this how everyone got through college? Fat, drunk, and stupid is no way to live your life, is it?


Net sales in the first half of 2003 increased 22%, year to year, reflecting new product launches, and other revenues (from a profit sharing agreement with Genpharm) in the current interim only. Gross margins widened, driven by the royalty revenue of omeprazole, but R&D costs and SG&A expenses rose significantly faster than revenues
The financial performance of PRX is simply amazing. Return on Equity was 44% in 2002. Return on Assets,over the same period, was 31%
Even one week before the Nefazodone coup, PRX stomped all over Paxil. Pharma Resources is a respected player in the U.S. market and will capture the majority of the generic market share (around 60%) for the rest of 2003. Pharma Resources will pick up $201 million in revenue from the sale of generic Paxil the rest of this year. Paxil sales last year totaled $2.3 billion. Holy cow! I didn’t know that many Red Sox fans existed. Generic penetration of Paxil will be 12% in the third quarter and 75% in the fourth quarter.

With all this new business, you’re looking at a jump to about $3.97/share of earnings in 2004. With the existing PE, this would propel the stock price to $107.19/share which is well past my target. Of course you don’t have to wait until 2004 to reap these rewards. Once the market realized the gravy train is here, the stock price will be bid up well before earnings materialize.


Among the 25 drugs currently awaiting approval by the FDA, PRX believes
that several may represent first-to-file opportunities entitling the Company, or its strategic partner, up to 180 days of marketing exclusivity or co-exclusivity. These products include testosterone 1% gel (Androgel(R))…Where exactly do you rub this anyway?

I am HUGE!!

$$$MR. MARKET$$$

[investing_fool]

I'm likin this pick

current price is 64.07
support is 59.32 (50dma)
resistance is 73.25 (52 wk hi)

reward/risk ratio is=(73.25-64.07)/(64.07-59.32)=1.93

so almost a 2/1 reward to risk ratio at current price, also target price (72) is below anticipated resistance (73.25).

[jiesen]

glad to see this one recovering- it had me worried for a minute (only a minute though)

[mrmarket]

glad to see this one recovering- it had me worried for a minute (only a minute though)

yee of little faith...where do you think those 32 consecutive profitable trades came from??

remember the mantra....earnings earnings earnings

[CHSMITHINS]

Anyone know any news on today's PRX decline?

Seems it could be a good day to add to position or start one. It is down on higher volume, though. The move seems company specific rather than industry although the industry has dropped on IBD over the past couple of months as the latest rotation takes place.

I think I'll add some to lower my cost basis.

[viktoriya_a]

Anyone know any news on today's PRX decline?

Seems it could be a good day to add to position or start one. It is down on higher volume, though. The move seems company specific rather than industry although the industry has dropped on IBD over the past couple of months as the latest rotation takes place.

I think I'll add some to lower my cost basis.


Mayhap you should find out why it went down on such a good day before you add to it.

[mrmarket]

Stock Screen
Par Excellence

By Jack Hough
June 17, 2004
Note: This column was originally published on SmartMoney Select, our premium, subscription-based website. To access this and other content from SmartMoney Select on a daily basis, click here to start your FREE TRIAL now!

"THE PAST 24 HOURS have been a Ferris wheel," remarked one analyst. "Chaos reigns," cried another. On April 7, generic-drug maker Par Pharmaceutical (PRX) announced that it had received FDA approval to sell a knock-off of Schering Plough's (DGP) Rebetol-brand ribavarin pills for Hepatitis C. Novartis (NVS) also received such an approval, but the two companies looked to have secured shared exclusivity of the drug for at least six months. Industry watchers figured the new ribavarin pill at a 35% to 40% discount to Rebetol would give Par's top line a booster shot of $50 million to $65 million in 2004. The stock quickly jumped 7%.

The next day's news, though, had investors grimacing like toddlers swallowing cod liver oil. Schering Plough had decided not only to enter the generic market for its own drug, but also to stomp on the market with a discount of 70%. Analysts called the move "irrational," but nonetheless cut their revenue projections for Par's generic version in half. Shares immediately gave back their 7% run-up, and have kept right on falling as Reuters Research's 2004 earnings consensus for Par has shriveled to $2.75 from $3.21. The stock since April 7 is down 37%. There's reason to believe, however, that the stock has gotten cheap; it turned up recently on our Three-Point Value Screen.

Investors differ as to which measure of a company's income they prefer to use as the basis for valuation assessments. Earnings and the price/earnings ratio are probably the most popular, and academic research suggests that earnings are more closely tied to share performance than other measures. But sales, and the corresponding price/sales ratio, are favored for their lack of reliance on extensive accounting adjustments. Cash flow, meanwhile, is the choice of those who like measuring actual money changing hands, not income being accrued and expenses incurred.

Our Three-Point Value screen uses the P/E, P/S and P/CF ratios, along with some other measures, to find companies that look cheap from a variety of views. Engine maker Cummins (CMI), the subject of our last Three-Point Value screen on May 12 ("Diesel Power"), is an example. The loss of a major customer was just one reason investors were running from its shares at the time, but our screen suggested it was underpriced. The stock is up a quick 12% since our write-up.

See the recipe to the right for details on the criteria used in our Three-Point Value search, and fire up our stock screener anytime you'd like to run it for yourself. This time around the screen pulled up nine companies, including Par Pharmaceutical.

Spring Valley, N.Y.-based Par has sold $767 million worth of drugs in the past year. The company markets the 29 drugs it manufactures, and 42 drugs made by others. In the past, Par has been the first to market with generic equivalents of Prozac for depression and Megace for breast cancer. Those two drugs, and two other of Par's big sellers — generics of Paxil for anxiety and Prilosec for acid reflux — are expected to see increased competition and a decrease in revenues this year. But Par has 60 products in development and another 35 awaiting FDA approval, and its April purchase of Somerset, N.J.-based Kali Laboratories for $135 million gives it 25 more drugs in development and 14 more awaiting approval. In total, Par now expects to launch 36 products in 2004 and 2005.

First-quarter results for the company, reported April 29, showed sales growing 99% to $211.8 million. Earnings excluding a $1.7 million gain from the sale of a facility rose 27% to $28.5 million. Per-share earnings of 80 cents met analysts' recently reduced expectations. Jeffrey Long-McGie, an analyst with stock research firm Think Equity, called the results "gut-wrenching" in an April 30 note, and figured that only 32 cents of earnings came from Par's "base business," that is, its business excluding acquisitions. But Long-McGie noted that the results were expected and called the stock "dramatically undervalued."

Long-McGie says shares should be worth 17 times his 2005 estimate of $3.37, or about $58, within a year, and points out that there's "tremendous upside potential" to his estimate if anticipated generic competition for Paxil is delayed, or if Par launches its generic equivalent of Ultracet acid-reflux medicine, expected in the first quarter of 2005, early. (Long-McGie doesn't own shares of Par Pharmaceutical; Think Equity doesn't have an investment-banking relationship with the company.)

A look at Reuters Research's eight-analyst consensus earnings data does nothing to contradict Long's view. Par shares trade at about $38, or 14 times 2004 earnings, compared with an average P/E of 22 for generic-drug makers. And Par is projected to increase earnings by 19% annually over the next five years, compared with 16% for the group. That gives the stock a price/earnings-growth, or PEG, ratio of 0.73, less than half of peers' 1.57 and the S&P 500's 1.60. A PEG that low suggests that the prognosis for Par's ailing shares may be promising after all.

[Karel]

Nice action! Up 17% right now for this day!

Shall I say it? Hmm, yes, I shall:

$$$Mr. Market$$$ is HUGE !!!

Regards,

Karel

[jiesen]

PRX is announcing its quarterly earnings tomorrow, expected to be around $0.40/shr. Anyone have a guess what the real #'s going to be? I say $0.43.

[jiesen]

http://biz.yahoo.com/ap/050224/earns_par_pharmaceutical_1.html

Hmmm, .12 vs .40 - not good.

I guess they forgot to mention that .40 estimate didn't factor in the Kali acquisition, and that before that charge, they made .44... oh well. Let's just wait and see if the acquisition pays off.


Associated Press
Par Pharmaceutical 4Q Profit Plunges
Thursday February 24, 10:30 am ET
Par Pharmaceutical Fourth-Quarter Profit Plummets 89 Percent on Disappointing Sales

SPRING VALLEY, N.Y. (AP) -- Par Pharmaceutical Cos. reported Thursday that its fourth-quarter profit fell 89 percent, well below Wall Street expectations, as disappointing sales and increased research and development spending cut into earnings.

The drug maker said its quarterly income declined to $4.3 million, or 12 cents per share, down from $38.2 million, or $1.08 per share, a year ago. Revenue fell 49 percent to $114.2 million from $222.8 million last year.

Analysts surveyed by Thomson First Call expected earnings per share of 40 cents on revenue of $141.6 million.

"Certain expected new product introductions, like clonidine TDS, were delayed and the ribavirin launch proved disappointing," said Scott Tarriff, president and chief executive, in a statement. "All of these factors, along with a doubling of our investment in R&D, contributed to financial results that did not meet our expectations for the year."

Clonidine is a treatment for hypertension and ribavirin is a treatment for pneumonia.

For the full year, the company posted net income of $29.2 million, or 84 cents per share, down from $122.5 million, or $3.54 per share, last year. Excluding a research and development charge from the purchase of Kali Laboratories and a gain from the sale of a company facility, Par earned $2.26 per share.

Revenue rose 4 percent to $690 million from $661.7 million as the cost of goods sold rose 17 percent to $444 million. Analysts forecast earnings of $2.39 per share on revenue of $717.2 million.

Par Pharmaceutical shares fell 98 cents, or 2.5 percent, to $37.89 in morning trading on the New York Stock Exchange.

[spikefader]

Some chart thoughts:

[jiesen]

http://biz.yahoo.com/bw/050602/25205.html?.v=1
NovaDel Pharma Receives Approvable Letter from the FDA for NitroMist -- nitroglycerin lingual aerosol--
Thursday June 2, 8:30 am ET

FLEMINGTON, N.J.--(BUSINESS WIRE)--June 2, 2005--NovaDel Pharma Inc. (AMEX:NVD (http://finance.yahoo.com/q?s=nvd&d=t) - News (http://finance.yahoo.com/q/h?s=nvd)):

No clinical issues identified
Completion of process validation needed to gain approval
Plans in place for Par to launch upon approval
NovaDel Pharma Inc. (AMEX:NVD (http://finance.yahoo.com/q?s=nvd&d=t) - News (http://finance.yahoo.com/q/h?s=nvd)) received an approvable letter from the U.S. Food and Drug Administration regarding its New Drug Application (NDA) for NitroMist(TM) (nitroglycerin lingual aerosol), indicated for acute relief of an attack or acute prophylaxis of angina pectoris due to coronary artery disease.

The company believes that the Food and Drug Administration will give final approval once the company completes its previously agreed-to manufacturing process validation commitments. The FDA is not requiring any additional clinical studies for approval.

"We are extremely pleased with this approvable letter which validates our lingual spray technology and our ability to successfully bring a product through the development and regulatory processes. Furthermore, it confirms the appropriateness of the 505(b)(2) NDA regulatory path for our lingual spray products which can reduce the time to approval," said Gary Shangold M.D., President and CEO of NovaDel. "We are already moving towards completion of the process-validation work required for approval and believe a complete response can be submitted to FDA in an expeditious manner."

NovaDel has partnered with Par Pharmaceutical Companies, Inc. (NYSE:PRX (http://finance.yahoo.com/q?s=prx&d=t) - News (http://finance.yahoo.com/q/h?s=prx)) who has exclusive rights to market, sell and distribute NitroMist(TM) in the US and Canada. NovaDel receives milestone payments and royalties on sales of the product. Manufacturing of the product will occur at the Manati, Puerto Rico facility of Inyx, Inc. (OTCBB:IYXI (http://finance.yahoo.com/q?s=iyxi.ob&d=t) - News (http://finance.yahoo.com/q/h?s=iyxi.ob)).

NitroMist(TM) is a pending trademark of Par Pharmaceutical Companies, Inc.

About NovaDel Pharma, Inc.

NovaDel Pharma, Inc. is a specialty pharmaceutical company engaged in the development of novel drug delivery systems for prescription and over-the-counter drugs. The company's proprietary lingual spray technology delivery system offers the patient the potential for (i) fast onset of action; (ii) improved drug safety by reducing the required drug dosage and reducing side effects; (iii) improved patient convenience and compliance; and (iv) enhanced dosage reliability. The company plans to develop such products independently and through collaborative arrangements with major pharmaceutical and biotech companies. To find out more about NovaDel Pharma Inc. (AMX:NVD), visit our website at www.novadel.com (http://www.novadel.com/).

[jiesen]

looks like PRX inked a huge deal last month with an Indian chemical co.
check it out:

http://www.orchidpharma.com/media_room/media_load.asp?file=o_itn/05/fresh_deal.htm.

Orchid Chemicals and Pharmaceuticals Ltd today signed a fresh marketing pact with US-based Par Pharma for four non-antibiotic products for distribution in the US generics market. These four products fall under the central nervous system and anti-emetic segments, Orchid informed Bombay Stock Exchange.

The company has also signed a deal with Phoenix for a unique veterinary cephalosporin product covering the US, Canada and Mexico markets, it added.

The agreements come in the wake of two other major deals with Alpharma and Stada announced by the company recently in the non-antibiotics space.

These recent agreements covered several blockbuster products currently under patent and involve a development funding revenue stream of $25 million in the aggregate to the company payable in milestone linked installments between 2005 and 2007, it said.

The company will also receive profit share as the product get commercialised.

These products account for a current retail market size of $25 billion, in US and select European countries, it added.

The first milestone payments have already been received upon execution of the agreements, it said.

OCPL had earlier entered into similar agreements with Apotex and Par for distribution of its sterile and oral antibiotic formulation range of products which are set to be launched in the US from this fiscal progressively upon regulatory approvals and patent expiries.

[mrmarket]

Plagiarism is alive and well!


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AP
Par Gets Tentative FDA OK for Zofran
Friday June 17, 4:08 pm ET
Par Pharmaceutical Receives Tentative Approval From FDA for Generic Version of Zofran


SPRING VALLEY, N.Y. (AP) -- Par Pharmaceutical Cos. said Friday that the Food and Drug Administration granted the drug maker tentative approval for generic versions of GlaxoSmithKline PLC's nausea treatment Zofran ODT.
ADVERTISEMENT


The tentative approval concerns 4 milligram and 8 milligram tablets of the drug used to treat the nausea and vomiting associated with cancer chemotherapy and certain radiotherapies. Tentative approvals are granted by the FDA to generic drug makers when an application is approvable but patent and exclusivity issues are still outstanding. A tentative approval doesn't allow the applicant to market the generic product and postpones the final approval until all patent and exclusivity issues have expired.

Par unit Kali Laboratories Inc. filed the application in September 2002, and GlaxoSmithKline sued Kali for patent infringement. Kali denies that its product infringes GlaxoSmithKline's patents. Annual U.S. sales of Zofran ODT total about $225 million.

The company believes that Kali was the first to file an application for generic Zofran, which would entitle the company to 180 days of generic marketing exclusivity should it gain final approval.

Kali is partnered with Pliva Inc., which holds the exclusive U.S. rights to market the generic product. Under the agreement, Kali manufactures the product and the two firms split resulting profits from sales.

Par Pharmaceutical shares fell 17 cents to close at $31.40 on the New York Stock Exchange.

[jiesen]

Plagiarism is alive and well!

Par Pharmaceutical Receives Tentative Approval From FDA for Generic Version of Zofran

SPRING VALLEY, N.Y. (AP) -- Par Pharmaceutical Cos. said Friday that the Food and Drug Administration granted the drug maker tentative approval for generic versions of GlaxoSmithKline PLC's nausea treatment Zofran ODT.
ADVERTISEMENT



I'm sure that's going to make some execs at GlaxoSmithKline nauseous!

[mrmarket]

6:39AM Par Pharmaceutical announces positive Phase II results of proof-of-concept study (PRX) 28.62 :PRX announces results of Phase II proof-of-concept study with concentrated megestrol acetate oral suspension, which utilizes NanoCrystal Technology. Co says patients taking concentrated megestrol acetate 575 mg/5 mL gained more weight, on average, than those taking the older megestrol acetate oral suspension 800 mg/20 mL. PRX says that although this study was not powered to achieve statistical significance, there was a substantial difference in mean weight gain, beginning at day 3 and continuing throughout the trial, with the concentrated megestrol acetate group gaining 50% more weight by week 12.

[jiesen]

but it's better than a kick in the teeth. I'm referring to PRX's latest news, of FDA approval for generic Questran.


http://biz.yahoo.com/ap/050829/par_pharmaceutical_generic_questran.html?.v=1
Par Pharma Gets OK for Generic Questran
Monday August 29, 3:17 pm ET Par Pharmaceutical Receives FDA Approval for Generic Version of Cholesterol Drug Questran



SPRING VALLEY, N.Y. (AP) -- Drug maker Par Pharmaceutical Cos. on Monday said it received final approval from the Food and Drug Administration for its generic equivalent of Bristol-Myers Squibb Co.'s Questra treatment for high cholesterol.

The company said the FDA approved its new drug applications for cholestyramine for oral suspension, and that the treatment will begin shipping soon.

U.S. sales of cholestyramine products total about $50 million, according to pharmaceutical research company IMS health. Par Pharmaceutical shares rose 8 cents to $23.61 in afternoon trading on the New York Stock Exchange.

[sisterwin2]

this drug is use alot in Long term care facilities...... THE goverment will make it mandatory that all on it will switch to the generic drug if its cheaper. If the resident is not switched over.. the facility will pay out of pocket for the drug...

Just a thought,
Dena

[jiesen]

http://biz.yahoo.com/ap/050914/par_pharma_arava.html?.v=1

Par Unit Receives FDA Generic Arava OK
Wednesday September 14, 7:46 am ET Par Pharmaceutical Unit Gets FDA Approval to Market Generic Version of Arava Arthritis Drug


SPRING VALLEY, N.Y. (AP) -- Drug maker Par Pharmaceutical Cos. said Wednesday that its Kali Laboratories Inc. unit received Food and Drug Administration approval to market a generic version of Sanofi Aventis SA's Arava, a rheumatoid arthritis treatment.

The approval allows Kali to market 10 milligram and 20 milligram tablet strengths of leflunomide, the active ingredient in Arava. Par said it will begin shipping the tablets immediately.

The company estimates annual U.S. Arava sales at more than $200 million. Rheumatoid arthritis occurs when the body's immune system mistakenly attacks the linings of joints, causing inflammation, swelling and pain. Par shares rose 60 cents, or 2.4 percent, to $26 in premarket activity

[jiesen]

finally!

http://finance.yahoo.com/q/bc?s=PRX&t=5d

[mrmarket]

Earnings due October 27...they expect $0.27/share

[jiesen]

Earnings due October 27...they expect $0.27/share

0.27? Try 0.74! (well, 0.29 excluding one-time items)

Megace has captured 9% of its market... not bad, and still a ways to go.

http://biz.yahoo.com/prnews/051027/nyth049.html?.v=32

Par Pharmaceutical Reports Third-Quarter Sales and Earnings
Thursday October 27, 6:00 am ET
Company Achieves Third-Quarter Total Revenues of $118.7 Million, Net Income of $10.0 Million and Diluted EPS of $.29, Excluding Certain Items
Quarter Marks the Introduction of Megace(R) ES, the First Branded Pharmaceutical Product Developed by Par

SPRING VALLEY, N.Y., Oct. 27 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX (http://finance.yahoo.com/q?s=prx&d=t) - News (http://finance.yahoo.com/q/h?s=prx)) today reported total revenues of $118.7 million for the third quarter ended October 2, 2005. For the quarter, reported net income was $25.3 million and diluted earnings per share were $.74. This result includes a $13.3 million after-tax gain on the sale of shares of common stock of New River Pharmaceuticals, Inc., and a $6.4 million tax benefit resulting from the resolution of certain tax contingencies. Third-quarter results also include a non-cash charge of $4.4 million, after tax, for the impairment of assets related to Par's Abbreviated New Drug Application (ANDA) for latanaprost ophthalmic solution. Excluding these items, net income was $10.0 million and diluted earnings per share were $.29. This is compared with reported revenues of $151.6 million and a net loss of $35.1 million, or $1.03 loss per diluted share, in 2004. Excluding a non-cash charge of $51.2 million, after tax, for the write-off of acquired in-process research and development (IPR&D), net income was $16.2 million and diluted earnings per share were $.48 for the same period a year ago. "The third quarter benefited from the introduction of Megace ES and an improving gross margin," said Scott Tarriff, president and chief executive officer. "Contributing to this improvement were new, internally-developed products such as Megace ES and Par's generic version of Ultracet®. Par's financial performance, year-to-date, reflects the considerable investment necessary to build a branded pharmaceutical business. However, with the successful launch of Megace ES now underway, Par has passed an important milestone. We believe that the Megace ES launch will ultimately be viewed as the transforming event that established Par as a successful specialty pharmaceutical company."

Third-Quarter Review

The appetite stimulant, Megace ES (megestrol acetate) concentrated oral suspension, was launched in the third quarter. Sales of Megace ES, Par's first branded pharmaceutical product, were $10.2 million. In just 13 weeks since its launch, Megace ES now holds an 8.8 percent share of new prescriptions in the U.S. market for megestrol acetate oral suspension products, according to the IMS Health national prescription audit for the week ending October 14, 2005.

In the third quarter, Par's leading generic product, tramadol hydrochloride (HCl) and acetaminophen tablets, contributed sales of $23.9 million. The product is the generic version of the analgesic Ultracet and was introduced in April 2005. Par was awarded 180 days of marketing exclusivity for being the first to file an ANDA containing a paragraph IV certification for the product.

For the third quarter, sales of paroxetine HCl tablets, the generic version of the antidepressant Paxil®, megestrol acetate oral suspension, the generic form of Megace, and fluoxetine, the generic equivalent of Prozac®, totaled $19.2 million. This is compared with total sales of $59.0 million in the same period a year ago. The lower sales of these three products primarily reflect the impact of increased generic competition and its corresponding effect on pricing and market share.

Par's third-quarter gross margin was 45 percent of sales, compared to 39 percent in 2004. The increase in the company's gross margin reflects, in part, the introduction of new, internally-developed products. These higher- value products include Megace ES, and tramadol HCl and acetaminophen tablets.

Third-quarter selling, general and administrative (SG&A) expense increased 42 percent to $22.9 million. SG&A expense included $6.8 million of sales and marketing expenses associated with the introduction of Megace ES. Increased legal fees and additional personnel costs across various administrative functions also contributed to the increase in SG&A expense during the quarter.

Research and development (R&D) expense of $15.0 million declined from $17.1 million in the third quarter of 2004. This decline resulted primarily from reduced spending on biostudies, and lower outside product development costs in the quarter.

In the third quarter, Par recognized an investment gain of $13.3 million, after tax, on the sale of Par's remaining shares of common stock of New River Pharmaceuticals, Inc. Par purchased shares of New River in an initial public offering on August 5, 2004.

The third quarter includes a $6.4 million tax benefit resulting from the resolution of certain tax contingencies. Excluding this benefit, Par's effective tax rate would have been 37 percent in the period.

Nine-Month Review

For the nine months ended October 2, 2005, total revenues were $333.2 million, compared with $575.9 million for the same period in 2004. For the first nine months of the year, Par reported net income of $26.6 million and diluted earnings per share of $.77. Results for the first nine months include a $10.1 million, after tax, net gain related to investments, the $6.4 million tax benefit and the $4.4 million, after tax, asset impairment. Excluding these items, net income was $14.5 million and diluted earnings per share were $.42 for the first nine months of 2005. This is compared with reported net income of $25.0 million and reported diluted earnings per share of $.71 for the same period a year ago. Excluding the $51.2 million after-tax write-off of acquired IPR&D, and an after-tax gain of $1.7 million associated with the sale of a company facility, net income was $74.5 million and diluted earnings per share were $2.13 for the first nine months of 2004.

SG&A expense increased 40 percent to $69.4 million for the first nine months of 2005. SG&A expense included $16.8 million of sales and marketing expenses associated with the introduction of Megace ES.

For the first nine months of 2005, investment in R&D increased 43 percent to $48.4 million. This includes $19.6 million for the development of proprietary pharmaceutical products. The substantial increase in R&D underscores Par's commitment to identify, formulate and develop a continuing stream of new branded and generic pharmaceutical products. Par currently has 54 regulatory filings awaiting approval from the U.S. Food and Drug Administration (FDA). This includes 53 ANDAs targeting branded pharmaceutical products with U.S. sales of approximately $29 billion.

For the first nine months, Par recognized a net investment gain of $10.1 million, after tax. This includes a $15.3 million after-tax gain on the sale of shares of common stock of New River Pharmaceuticals, Inc. and an unrealized loss of $5.2 million, after tax, reflecting the impairment of Par's investment in Advancis Pharmaceutical Corporation.

Since the end of the second quarter of 2005:

* Par promoted Michael Graves and John A. MacPhee to the newly created
positions of president, Generic Products Division, and president,
Branded Products Division, respectively. Mr. Graves and Mr. MacPhee
were also elected corporate officers by Par's board of directors;

* Par entered into an agreement with MN Pharmaceuticals, based in
Istanbul, Turkey, to develop and market generic versions of as many as
10 injectable pharmaceuticals;

* Par began shipping leflunomide tablets, cholestyramine regular and light
powder for oral suspension, and clonazepam orally disintegrating tablets
(ODT);

* Par announced that its licensing partner, Amide Pharmaceutical, Inc.,
received final FDA approval and began shipping mirtazapine ODT. The
product was developed by Par's wholly-owned subsidiary, Kali
Laboratories, Inc; and

* Par terminated its partnership agreement with Advancis Pharmaceutical
Corporation. The decision to terminate the partnership followed the
release of disappointing results from Advancis' Amoxicillin PULSYS Phase
III clinical trials.
Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic pharmaceuticals through its principal subsidiary, Par Pharmaceutical, Inc. The company is also developing an additional line of branded pharmaceutical products, the first of which is Megace® 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 (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.

[mrmarket]

Par Unit Gets FDA OK for Generic Zofran
Monday November 21, 1:19 pm ET
Par Pharmaceutical Says FDA Gives Subsidiary Final Approval to Market Generic Version of Zofran


SPRING VALLEY, N.Y. (AP) -- Par Pharmaceutical Cos. said Monday that the Food and Drug Administration gave the drug maker's Kali Laboratories unit final approval to market a generic version of GlaxoSmithKline PLC's nausea treatment Zofran ODT.
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However, it will be sometime before Kali can release the drug. Kali and GlaxoSmithKline are tied up in lawsuits over patents that will remain valid until December 2006, when the unit expects to launch the drug. The company also said that Kali will get 180 days of market exclusivity when it does launch since it was the first to file for generic approval for the drug.

The approval covers 4 milligram and 8 milligram tablets of ondansetron hydrochloride, the active ingredient in Zofran. The drug is approved to prevent nausea and vomiting associated with chemotherapy, radiotherapy, or certain operations.

Under an agreement with Kali, Pliva Inc. has exclusive U.S. rights to market the generic, and the companies will split the profits.

Annual U.S. sales of Zofran ODT are about $225 million, the company said.

Par Pharmaceutical shares rose 17 cents to $26.30 in afternoon trading on the New York Stock Exchange.

[mrmarket]

Par Pharmaceutical's Partner Receives Final Approval to Market Ribavirin Tablets
Monday December 5, 2:01 pm ET
Par to Begin Shipping Ribavirin Tablets Immediately


SPRING VALLEY, N.Y., Dec. 5 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX - News) today announced that its marketing partner, Three Rivers Pharmaceuticals, has received final approval by the U.S. Food and Drug Administration for its Abbreviated New Drug Application (ANDA) for ribavirin 200 mg, 400 mg and 600 mg tablets. Ribavirin, a synthetic nucleoside analogue with antiviral activity, is used in combination with peginterferon alfa-2a for the treatment of hepatitis C. Ribavirin tablets are currently marketed by Roche Pharmaceuticals under the brand name Copegus®. Annual U.S. sales of the product are approximately $200 million.



Under the terms of its agreement with Three Rivers, Par will co-market Three Rivers' ribavirin tablets and the companies will split profits from the sales of the product. Par will begin shipping ribavirin 200 mg tablets immediately.

Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic pharmaceuticals through its principal subsidiary, Par Pharmaceutical, Inc. The company is also developing an additional line of branded pharmaceutical products, the first of which is Megace® 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.

[jiesen]

Maybe PRX is starting to turn around after all... it's finally breaking out of its 4-month rut:

http://finance.yahoo.com/q/bc?s=PRX&t=6m&l=on&z=m&q=l&c=

[jiesen]

wow! sure glad I never put a stop on this one!

http://biz.yahoo.com/prnews/051216/nyf015.html?.v=33

[jiesen]

http://www.nasdaq.com/asp/quotes_full.asp?mode=&kind=shortint&symbol=HW&symbol=PRX&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&FormType=&mkttype=&pathname=&page=short&selected=PRX

short interest is up around 10% this month, now more than double where it was a year ago. the shorts never thought PRX would make it back over $30 again, but these recent product approvals and acquisitions are likely catching them off guard now. will the ensuing short squeeze take this stock back into the 50s and 60s again? we'll see...

[jiesen]

http://biz.yahoo.com/prnews/051223/nyf007.html?.v=36

Par Pharmaceutical Receives Final Approval to Market Generic Cefzil(R) Tablets
Friday December 23, 6:00 am ET
Par to Begin Shipping Cefprozil Tablets Immediately

SPRING VALLEY, N.Y., Dec. 23 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX (http://finance.yahoo.com/q?s=prx&d=t) - News (http://finance.yahoo.com/q/h?s=prx)) today announced that it has received final approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for cefprozil tablets. Cefprozil is the generic version of Bristol-Myers Squibb Company's broad-spectrum cephalosporin antibiotic Cefzil®. Annual U.S. sales of Cefzil® tablets exceed $100 million, according to IMS Health.

Par will begin shipping the product immediately. Cefprozil tablets will be available in 250 mg and 500 mg strengths. Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. In 2005, Par received approval for and introduced Megace® ES, its first branded pharmaceutical product, and expects to launch its second in early 2006. Par's Generic Products Division is committed to providing high-quality pharmaceuticals that are affordable and accessible to patients. Par manufactures, markets or licenses more than 90 generic drugs. For press release and other company information, visit http://www.parpharm.com (http://www.parpharm.com/).

[mrmarket]

Orchid gets U.S. nod for cefprozil oral suspension
Mon Jan 2, 2006 02:13 AM ET
MUMBAI, Jan 2 (Reuters) - India's Orchid Chemicals & Pharmaceuticals Ltd. (ORCD.BO: Quote, Profile, Research) said on Monday it had received approval from the U.S. Food and Drug Administration for a generic of an oral suspension form of Bristol-Myers Squibb's (BMY.N: Quote, Profile, Research) antibiotic Cefzil.
Orchid's shares were up 2.6 percent at 247.5 rupees in afternoon trade.

Earlier this month, the company had earlier got approval for tablets of the generic called cefprozil.

The products will be launched in the United States through Orchid's marketing partner Par Pharmaceuticals Cos Inc. (PRX.N: Quote, Profile, Research) .

[jiesen]

This is great news for PRX, check it out:

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh6628 8_2006-01-23_15-45-59_n23187075_newsm

UPDATE 1-Teva, IVAX say U.S. FTC clears merger
Mon Jan 23, 2006 10:45 AM ET
(Adds details, analyst comment, share prices)

NEW YORK, Jan 23 (Reuters) - The U.S. Federal Trade Commission has cleared Teva Pharmaceutical Industries Ltd's (TEVA.O: Quote (http://www.investor.reuters.com/FullQuote.aspx?ticker=TEVA.O&target=%2fstocks%2fquickinfo%2ffullquote), Profile (http://www.investor.reuters.com/CompanyOverview.aspx?ticker=TEVA.O), Research (http://www.investor.reuters.com/StockReports.aspx?ticker=TEVA.O)) $7.4 billion acquisition of IVAX Corp. (IVX.A: Quote (http://www.investor.reuters.com/FullQuote.aspx?ticker=IVX.A&target=%2fstocks%2fquickinfo%2ffullquote), Profile (http://www.investor.reuters.com/CompanyOverview.aspx?ticker=IVX.A), Research (http://www.investor.reuters.com/StockReports.aspx?ticker=IVX.A)) provided the companies divest rights to 15 generic drugs, the generic drugmakers and the agency said on Monday.

The U.S. approval paves the way for the merger to close Jan. 26, the companies said, creating a powerhouse generic pharmaceutical company.


"Teva now represents the largest generic company by far in terms of revenue, breadth of product portfolio and pipeline, and global reach," Richard Watson, an analyst with William Blair & Co, wrote in a research note.

The companies said they will be required to divest certain formulations of 11 overlapping generic drugs with total annual sales of about $15 million, as part of a consent order accepted for public comment by the FTC. They said they also will have to assign distribution agreements regarding four drugs to other companies.

Par Pharmaceutical Cos. Inc. (PRX.N: Quote (http://www.investor.reuters.com/FullQuote.aspx?ticker=PRX.N&target=%2fstocks%2fquickinfo%2ffullquote), Profile (http://www.investor.reuters.com/CompanyOverview.aspx?ticker=PRX.N), Research (http://www.investor.reuters.com/StockReports.aspx?ticker=PRX.N)) will receive rights to 11 of the divested drugs, while Barr Pharmaceuticals Inc. (BRL.N: Quote (http://www.investor.reuters.com/FullQuote.aspx?ticker=BRL.N&target=%2fstocks%2fquickinfo%2ffullquote), Profile (http://www.investor.reuters.com/CompanyOverview.aspx?ticker=BRL.N), Research (http://www.investor.reuters.com/StockReports.aspx?ticker=BRL.N)) will receive rights to four of them, according to the FTC.

"The merger as originally proposed likely would have caused significant harm to U.S. consumers," Jeffrey Brennan, associate director of the FTC's Bureau of Competition, said in a statement. "The commission's consent order will protect U.S. consumers from higher prices for these important generic drugs."

One of the drugs, amoxicillin clavulanate potassium, is a penicillin antibiotic with annual sales of about $676 million, according to the FTC. The agency said the acquisition would have left Israel-based Teva with more than half the market. Shares of Teva fell 8 cents to $42.37 in morning trade on the Nasdaq. Barr shares were up 98 cents, or 1.5 percent, at $65.83 on the New York Stock Exchange, where Par shares rose 16 cents, or 0.5 percent, to $31.19.

[jiesen]

I sure hope so! Go PRX!!! (It's FINALLY above my double-down price of $34 now)

http://yahoo.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?storyID=urn:newsml:re uters.com:20060222:MTFH07652_2006-02-22_22-26-29_N22525148&symbol=GSK.L

UPDATE 2-US FDA ok's generic version of Glaxo allergy spray
Wed Feb 22, 2006 5:25 PM ET
(Recasts, adds details, Glaxo comment)

By Susan Heavey


WASHINGTON, Feb 22 (Reuters) - The first generic version of GlaxoSmithKline's (GSK.L: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=GSK.L), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=GSK.L), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=GSK.L)) (GSK.N: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=GSK.N), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=GSK.N), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=GSK.N)) widely-used allergy spray Flonase won U.S. approval on Wednesday, but the British drugmaker said it might take legal action against the U.S. Food and Drug Administration.

Flonase, which brings in more than $1 billion in U.S. annual sales, helps treat stuffy and runny noses in both adults and children at least 4 years old. The FDA said its action would help consumers save millions of dollars.

"We believe that giving consumers a choice of safe, effective and reasonably-priced alternatives is extremely important to the economy and well-being of the American public," Gary Buehler, director of FDA's Office of Generic Drugs, told reporters.

Britain-based Glaxo's last patent for the nasal spray drug expired in November 2005, the FDA said. Privately-held Boehringer Ingelheim Corp. subsidiary Roxane Laboratories will market the new generic version.

Glaxo spokeswoman Mary Anne Rhyne said the company might take legal action, but was still reviewing the FDA's decision.

"We're seriously studying possible next steps... legal action," she said, adding that Glaxo hoped to make its decision "pretty quickly" before the generic version launched.

Shares of generic drugmaker Par Pharmaceutical (PRX.N: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=PRX.N), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=PRX.N), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=PRX.N)) surged about 8 percent after the FDA approval, closing at $36.31 a share.

Par has said it has an unspecified product in its pipeline, which Wall Street has long assumed to be a generic version of Flonase. However, some analysts declined to comment on the record on the stock move, and the company was not immediately available for comment.

Ivax Corp., which was acquired by Teva Pharmaceutical Industries Ltd. (TEVA.O: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=TEVA.O), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=TEVA.O), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=TEVA.O)) in January, has said it is pursuing a generic version of Flonase. Teva shares closed up 2.63 percent at $42.08 on the Nasdaq.

Prudential Equity Group analyst Tim Anderson said the FDA's decision came as a surprise, since generic drugmakers had been trying to win approval for years. "We have not been modeling generic Flonase into our 2006 forecasts," he said in a research note.

FDA's Buehler said the agency could not act until Flonase's last patent expired last November.

The FDA said it received five petitions, including three from Glaxo, questioning the agency's criteria for approving generic nasal sprays. Glaxo had asked for industry guidelines to be issued first, a regulatory process that can take years or even decades.

But the agency stressed the generic sprays were just as good as Glaxo's brand name one.

"Consumers and health professionals can be assured that an approved generic drug is bioequivalent to a brand name drug and is its equal in dosage form, strength, route of administration, quality, performance characteristics, and intended use," the FDA said.

Shares of Glaxo closed down 3 cents on the New York Stock Exchange at $50.99. (Additional reporting by Lewis Krauskopf in New York)

[jiesen]

They get to ship the Flonase after all... PRX will be $40 soon.

http://yahoo.reuters.com/news/articlehybrid.aspx?type=comktNews&storyid=urn:newsml:reuters.com:20060307:MTFH96150_ 2006-03-07_08-50-45_L07513596&rpc=44

Glaxo loses U.S. court bid to stop generic Flonase

LONDON, March 7 (Reuters) - GlaxoSmithKline Plc (GSK.L: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=GSK.L), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=GSK.L), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=GSK.L)) has lost its legal attempt to prevent the launch of generic versions of its allergy nasal spray, Flonase, in the United States, Europe's biggest drug maker said on Tuesday. Glaxo had lodged the appeal after privately held Boehringer Ingelheim subsidiary Roxane Laboratories secured Food and Drug Administration approval for its generic version of the product last month. It argued the FDA had not issued proper guidelines for nasal spray generics.

Flonase recorded sales of 506 million pounds ($882.3 million) in the United States last year, representing 2.3 percent of Glaxo's total revenues.

A generic form of the medicine had been widely expected by analysts but the approval of the Roxane formulation came earlier than many had anticipated.



A Glaxo spokesman reiterated on Tuesday that financial guidance for 2006 would not change as a result of the early generic launch. Glaxo is predicting earnings per share will increase this year by around 10 percent.

Glaxo has agreed with Par Pharmaceutical Cos Inc (PRX.N: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=PRX.N), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=PRX.N), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=PRX.N)) that it can launch an authorised generic version of Flonase in the United States once Roxane's spray reaches the market.

© Reuters 2006. All Rights Reserved.

[jiesen]

this is your final notice. Sale on PRX ends shortly:

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com: 20060629:MTFH96580_2006-06-29_21-32-25_WNAS1605&type=comktNews&rpc=44

PRX now has tentative approval to sell generic Norvasc (PFE patents expire next year).

http://yahoo.smartmoney.com/barrons/index.cfm?story=20031201

Norvasc was Pfizer's #2 selling drug in 2003 with over $4 Billion in sales. (that was more than double the Viagra sales)

This could be a $BILLION DOLLAR PRODUCT$ for PRX. Sales for the whole company were only half a billion last year, market cap is also only half a billion. The company also has about half a billion in net assets.

Can't lose!

They had hinted in previous calls that something HUGE would be coming out of their pipeline soon. This is it. Get in before everyone else realizes it, too.

Disclosure: Long PRX at 70, 60 and 40.

[New-born baby]

this is your final notice. Sale on PRX ends shortly:

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com: 20060629:MTFH96580_2006-06-29_21-32-25_WNAS1605&type=comktNews&rpc=44

PRX now has tentative approval to sell generic Norvasc (PFE patents expire next year).

http://yahoo.smartmoney.com/barrons/index.cfm?story=20031201

Norvasc was Pfizer's #2 selling drug in 2003 with over $4 Billion in sales. (that was more than double the Viagra sales)

This could be a $BILLION DOLLAR PRODUCT$ for PRX. Sales for the whole company were only half a billion last year, market cap is also only half a billion. The company also has about half a billion in net assets.

Can't lose!

They had hinted in previous calls that something HUGE would be coming out of their pipeline soon. This is it. Get in before everyone else realizes it, too.

Disclosure: Long PRX at 70, 60 and 40.

Pretty ugly chart, thus far, Mr. Jiesen. Of course, that will change today if what you say sparks a rally. So you think this is the next AMLN? AMLN was pretty good to me (thanks to you :D). I'd like to do that again. I'll look into this one today.

[billyjoe]

Jiesen,
Normally I wouldn't consider PRX , but your track record shows that I'd better take your picks seriously. Heck, 2 years ago ZING seemed humorous to me and you got the last laugh. Thanks for the heads up on PRX and do you own or have you checked out PTSI lately ? Just realised you are big on PTSI also, another dynamite pick.
--------billyjoe

[jiesen]

I think PRX will be more like a PTSI in the end than an AMLN stock. I am big on PTSI, too, Billyjoe, but I'm about $1 from my (the $$MM) sell target now, and so am getting ready to drop it for the next biggest and baddest stock on the $$MM screen. So my horizon for this one isn't the same, and while I believe it's a solid and quite-undervalued company with great earnings, I don't plan to hold it much longer, and so am looking harder at other stocks that I own (like PRX) and plan to hold for a while.

This latest news as I see it completely changes the PRX story. I don't think it's quite the same thing as what AMLN got in the Byetta approval, but the results could play out similarly in the next year or two. AMLN was, just a year ago, really a one (or maybe two) trick pony, that happened to get both of its ponies up and running, but for some reason the market completely discounted that for awhile, and sent the stock down for a few months before realizing the mistake and is now in the process of catching up to the true value of the drugs as they are playing out.

PRX, on the other hand, was and is a profitable company to start with, and should get even more so, and this latest approval is just one step closer to superb earnings, which will have to drive the stock steadily upward ala PTSI. Whether it makes $1B or $200M/year from the new products, the earnings are certainly going to improve over the past few quarters of trouble they've had. So instead of doing a complete 0 to 60 like AMLN is, which is starting from mega-losses and heading to a break-even or maybe a mega-gain, PRX is starting from already profitable, to becoming even more so, a much safer, if less lucrative position to be in.

But... that doesn't mean I really prefer one of these to the other, in fact I'm at about a 2% position in each (actually a bit more in AMLN), and am targeting over 100% gains in each, too. So which will get there first? I have no clue, and I could be completely wrong on either or both of them, as earnings for any particular product could easily hit a snag (AMLN's Byetta is currently having issues with ability to meet the demand for cartridges! - a nice problem to have, but still a problem), and for my track record, look at XING. Doug had the good sense to bail before earnings over $11, which I even praised him for... but stubbornly I held onto my 2% only to see it drop $2 on the news today that even though earnings are up from $6M to $9M in Q1 this year vs last, the CEO is paying his staff (ok himself) $7M of that in stock option expense!

So really, you never know, but you still gotta stack the deck in your favor as much as you can, and having some PRX is definitely a way to do that right now.

[jiesen]

I mean what, is the market insane? How many approvals will it give us before realizing that PRX actually MAKES money when it sells these drugs:

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com: 20060630:MTFH10633_2006-06-30_12-24-20_WNAS1633&type=comktNews&rpc=44

Par Pharmaceuticals gets FDA approval for depression drug

June 30 (Reuters) - Par Pharmaceutical Companies Inc. (PRX.N: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=PRX.N&WTmodLoc=HybArt-C1-ArticlePage1), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=PRX.N&WTmodLoc=HybArt-C1-ArticlePage1), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=PRX.N&WTmodLoc=HybArt-C1-ArticlePage1)) on Friday said its wholly-owned subsidiary, Kali Laboratories Inc., has received the U.S. Food and Drug Administration's (FDA) final approval for its drug, tranylcypromine sulfate tablets, 10 mg, for treating depression.

Tranylcypromine is the generic version of GlaxoSmithKline's (GSK.L: Quote (http://yahoo.reuters.com/stocks/overview.aspx?symbol=GSK.L&WTmodLoc=HybArt-C1-ArticlePage1), Profile (http://yahoo.reuters.com/stocks/CompanyProfile.aspx?symbol=GSK.L&WTmodLoc=HybArt-C1-ArticlePage1), Research (http://yahoo.reuters.com/stocks/ResearchReports.aspx?symbol=GSK.L&WTmodLoc=HybArt-C1-ArticlePage1)) Parnate, Par Pharmaceuticals said in a statement.
Par Pharmaceuticals said in the statement it will start shipping its product immediately. (Reporting by Ajaya Kumar in Bangalore)

[New-born baby]

I mean what, is the market insane?
The market is never insane. It is only those with temporary insanity (or the more permanent types) that argue with the market. I always believe the chart. And it is telling me something different that your posts. When the chart confirms what you are posting--I'll buy this stock. Today's price action was inspiring--inspiring me to avoid a long at this time.

I have always said "Jiesen is a genius." I still believe it. But I guess even geniuses sometimes are misunderstood.

[billyjoe]

Jiesen,
Sorry, but I have to say that PRX sucks.

------------billyjoe

[jiesen]

hmm, well at this point I'd have to say you're right.

[Lyehopper]

Jiesen,
Sorry, but I have to say that PRX sucks.

------------billyjoe
Shoulda bought GEHL..... ssssssssssss!

[spikefader]

Shoulda bought GEHL..... ssssssssssss!She's done the hard yards....now to buy the forthcoming discount......

Thanks for the heads up dude!

http://img339.imageshack.us/img339/2514/gehljuly68mm.gif

[stocks54]

jiesen,

Do you think it's a good buy at this point. Year ago I purchased $45 call option for $6.70 (That's lost). I was planning to purchase few shares on Wednesday...

Regards,
Stocks54

[spikefader]

Just a friendly heads up guys. PRX just took the Burnt Toast title for a ride down to major price support of $3.75.
http://www.technicaltrades.net/?cat=2

Caution longs. Bagholders at this point may wanna sell into strength of the fuzzy 2 if you get that lucky.

I note my chart earlier in this thread (http://www.mrmarketishuge.com/attachment.php?attachmentid=508&d=1109264666) talking about the start of it's longer-term demise when it was 38.70. Note that green weekly major channel break and the heavy vol by price up there that's arguably been the fuel for selling. And if you look a the fuzzy monthly chart (http://img147.imageshack.us/img147/7584/prxjuly11burnt8gc.gif) at my site you'll see that the strength you were getting excited about turns out to be the larger abc correctives that got sold into for a real nice impulse ride down.

Best to all.

[jiesen]

jiesen,

Do you think it's a good buy at this point. Year ago I purchased $45 call option for $6.70 (That's lost). I was planning to purchase few shares on Wednesday...

Regards,
Stocks54

oops, didn't see that post earlier! yes, I do think PRX is a good buy here. you're getting it for just a bit more than book value at this point, and for a company that has in the past been able to generate over $100M income in a year, and I believe will do so again in the not too distant future, this is a steal.

yes, the accounting problem is a doozy, but in fact only affects about 4% of the top line. now that it's identified and will be fixed, the company can move on- all it does is provide a really steep discount just for you, as people read the charts, panic, and bail out.

the one thing to watch, though, is big pharma's relentless attack on generic drugmakers. that's the only thing that can really kill PRX, but I doubt it will.

[stocks54]

Thanks jiesen.

[jiesen]

you're welcome!

[jiesen]

http://biz.yahoo.com/pz/060811/103721.html

Can't find a lead plaintiff yet? Well, too bad!

Looks like just about everyone wants to sue PRX for the $55M restatement except for the actual shareholders of the company... funny that!

By the way, PRX is up about $3, or 20% now from where it was a month ago.

[spikefader]

Not a bad call on July 11 jiesen! Looks like it saw about -6% red before turning bullish for thus far +15% from that 'good FA value' post.

You've done it again; found a solid FA call in the face of what was Burnt Toast TA (http://www.technicaltrades.net/2006/07/19/prx-stops-even/) (which did stop out even after +4% move). Kudos!

I note it's doing an 'a' corrective up now, so maybe 18.19 gap fill resistance area the turning point for the 'b' down??

That area will offer a very tempting swing short setup to target the $5.00 price support target I spoke of, or +73% to risk a 7% stop above price resistance above the gap. R/R is over 10, which is very good.

See the very bearish band action in the daily and weekly charts HERE (http://technicaltrades.net/bollingerbands&psar/prx.html) (look at the action in July with closing values below the lower band)

Longs might wanna give serious thought to taking profit at that gap resistance, stepping aside while that resolves itself and getting back on board if that bearish setup fails.