8-K

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                             ----------------------


                                    FORM 8-K


                                 CURRENT REPORT


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



Date of report (Date of earliest event reported):  June 19, 2003


                         PHARMACEUTICAL RESOURCES, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)



   NEW JERSEY                 FILE NUMBER 1-10827                     22-3122182
(STATE OR OTHER            (COMMISSION FILE NUMBER)             (I.R.S. EMPLOYER
JURISDICTION OF                                              IDENTIFICATION NO.)
INCORPORATION OR
 ORGANIZATION)


ONE RAM RIDGE ROAD, SPRING VALLEY, NEW YORK                                10977
  (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                            (ZIP CODE)




Registrant's telephone number, including area code: (845) 425-7100


Item 5. Other Events.
- ------  ------------

      On June 19, 2003, Pharmaceutical Resources, Inc. (the "Company") issued a
press release announcing that Kenneth I. Sawyer, its chairman, president and
chief executive officer, will retire effective July 1, 2003. The Company's board
of directors will conduct a search for a new chairman, president and chief
executive officer. In the interim, Scott Tarriff, president and chief executive
officer of the principal operating subsidiary of the Company, Par
Pharmaceutical, Inc., and Arie L. Gutman, Ph.D., president and chief executive
officer of the Company's FineTech unit, will report to the Company's lead
outside director. During this transition period, Mr. Sawyer will remain as a
director and be available to consult with the Company. A copy of this release is
attached as Exhibit 99.1.


Item 7. Financial Statements and Exhibits.
- ------  ---------------------------------

      (c)  Exhibits

      99.1 Press Release of the Company, dated June 19, 2003, announcing the
retirement of its chief executive officer.

                                       2


                                   SIGNATURES

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


June 23, 2003


                                    PHARMACEUTICAL RESOURCES, INC.
                                    ------------------------------
                                            (Registrant)


                                    /s/ Dennis J. O'Connor
                                    -------------------------------------------
                                    Dennis J. O'Connor
                                    Vice President, Chief Financial Officer
                                     and Secretary

EX-99.1

                                                                    EXHIBIT 99.1



Contact:
Scott Tarriff
President and Chief Executive Officer
Par Pharmaceutical, Inc.
(201) 802-4000

               PHARMACEUTICAL RESOURCES ANNOUNCES SAWYER TO RETIRE

SPRING VALLEY, NEW YORK, JUNE 19, 2003 - Pharmaceutical Resources, Inc.
(NYSE:PRX) today announced that Kenneth I. Sawyer, chairman, president and chief
executive officer, plans to retire, effective July 1, 2003. Sawyer, who has led
the company since 1989, will devote much of his time and efforts to managing the
Landon Morley Sawyer Foundation, a charitable foundation established in 2002.

The board of directors will conduct a search for a new chairman and chief
executive officer of PRX. In the interim, Scott Tarriff, president and chief
executive officer of PRX's Par Pharmaceutical subsidiary, and Arie L. Gutman,
Ph.D., president and chief executive officer of PRX's FineTech unit, will report
to the company's lead outside director. During this transition, Mr. Sawyer will
remain a director and be available to consult with the company.

"Our company has never been stronger or more successful, so, after almost 14
years, I've decided it is the ideal time, both personally and professionally, to
retire from PRX. I now look forward to the opportunity to pursue those personal
interests that are of great importance to me," said Sawyer. "We have just
completed the most successful year in our history, having achieved record sales
and earnings, and look forward to 2003 being even better. We have succeeded in
building a strong business that has propelled us into the ranks of the fastest
growing generic pharmaceutical companies. Most importantly, with a talented and
experienced management team in place, I am confident that the substantial
progress we have achieved together will continue. My decision to retire at the
end of June reflects my confidence in the future of PRX."

In October 1989, Sawyer became president and chief executive officer of the
company and was named chairman of the board in October 1990. Over the past two
years, PRX's sales have grown almost 350 percent with record sales and earnings
achieved in each of the last two years. Since 2001, PRX, or its partners, has
launched many new products, including six drugs with first-to-file status. PRX
currently has over 40 drugs in development and 26 Abbreviated New Drug
Applications (ANDA) awaiting approval at the U.S. Food and Drug Administration.
These ANDAs include as many as 5 that may represent first-to-file opportunities
entitling the company, or its strategic partner, up to 180 days of marketing
exclusivity or co-exclusivity.

Earlier this year, PRX was included in the Standard & Poor's (S&P) MidCap 400
Index, which measures the performance of the mid-size company segment of the
U.S. equity market. This index is used by over 95 percent of U.S. portfolio
managers and pension plan sponsors with more than $25 billion indexed to the S&P
MidCap 400.



On behalf of his fellow board members, Mark Auerbach, a director since 1990,
said, "we are grateful to Ken for his many contributions to PRX and his
sacrifices in its behalf over the years. We wish Ken all the best and
congratulate him on his record of achievement."

Pharmaceutical Resources, Inc., a holding company, develops, manufactures, and
distributes generic pharmaceuticals through its wholly owned subsidiary, Par
Pharmaceutical. Through its FineTech unit, PRX also develops and utilizes
synthetic chemical processes to design and develop intermediate ingredients used
in the production of finished products for the pharmaceutical industry. PRX
currently manufactures and distributes over 167 products representing various
dosage strengths of 62 drugs. For press release and other Company information,
visit 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 reports on Form 10-K, Form 10-Q, and Form 8-K.

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