Subsequent Events

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Events

Note 19 - Subsequent Events:

On May 3, 2012 we entered into amendments of existing employment agreements with certain of our executive officers, namely Paul V. Campanelli Chief Operating Officer and President, Par Pharmaceutical (our Generic Products Division) and Thomas J. Haughey, President, each of whom was a named executive officer as identified in our Proxy Statement filed on March 30, 2012. The employment agreements were amended to provide that with respect to the equity awards granted to each of the executives on January 5, 2012, pursuant to our 2012 long term incentive program under our 2004 Performance Equity Plan, the effect of any termination of the executive's employment with Par would be subject to the terms and conditions set forth in the applicable award agreements relating to the January 5, 2012 equity awards and the 2004 Plan and the provisions of the employment agreement will not be effective with respect to such awards.