SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K/A

CURRENT REPORT

AMENDMENT NO. 1

PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 16, 2007 (October 15, 2007)

PAR PHARMACEUTICAL COMPANIES, INC.

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization) File Number 1-10827
(Commission File Number) 22-3122182
(I.R.S. Employer
Identification No.)

300 Tice Boulevard, Woodcliff Lake, NJ
(Address of principal executive offices) 07677
(Zip Code)

Registrant’s telephone number, including area code: (201) 802-4000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**EXPLANATORY NOTE** The Company hereby amends its Current Report on Form 8-K filed with the Securities and Exchange Commission on October 15, 2007 to correct the error in the reported expiration time of the Diastat^® patent set forth in Item 8.01. No other change is being made to the Company’s Form 8-K, as filed with the SEC on October 15, 2007.

Item 8.01 Other Events.

On October 15, 2007, Par Pharmaceutical Companies, Inc. (the “Company”) issued a press release announcing that it had entered into a settlement agreement (the “Agreement”) with Valeant Pharmaceuticals North America (“Valeant”) that resolves all ongoing patent litigation between Valeant and the Company’s subsidiary, Kali Laboratories, Inc. (“Kali”), related to Valeant’s Diastat^® products. Pursuant to the Agreement, Par will have the right to introduce a generic version of Diastat^® products through its marketing partner, Barr Laboratories, Inc. (“Barr”) on or after September 1, 2010, approximately three years prior to the expiration of the Diastat^® patent. Additionally, Barr and Kali entered into an agreement whereby Barr will market, sell and distribute a generic Diastat^® product and the companies will split the profits from the sales of the product. The Company’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) The following exhibit is furnished with this Current Report on Form 8-K:

Exhibit No.		Description
	99.1	Press Release dated October 15, 2007 incorporated herein by reference to Exhibit 99.1 to the Company’s Form 8-K, dated October 15, 2007

Certain statements in this Current Report on Form 8-K constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. To the extent that any statements made in this Current Report on Form 8-K contain information that is not historical, such statements are essentially forward-looking and are subject to certain risks and uncertainties, including the risks and uncertainties discussed from time to time in the Company’s filings with the SEC, including its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statements included in this Current Report on Form 8-K are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated as of: October 16, 2007

PAR PHARMACEUTICAL COMPANIES, INC.
                              (Registrant)
 

/s/ Thomas J. Haughey  

Thomas J. Haughey, Executive Vice President and General Counsel 

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