MN Pharmaceuticals & PAR Pharmaceutical Companies, Inc. Have Signed Strategic Alliance

Istanbul – Turkey, 25 October 2005

MN Pharmaceuticals today announced that it has signed an agreement with PAR Pharmaceutical Companies, Inc. based in New Jersey – U.S., to develop and market generic version of injectable pharmaceuticals. The companies will collaborate on the development of as many as 10 generic injectable drugs.

"The Turkish Pharma Industry had a number of revolutionary changes during the past decade and still continue its evolution and MN Pharmaceuticals created an exciting opportunity to gain an access for the U.S. market through this alliance with PAR Pharmaceutical Companies, Inc.. We certainly believe this is a revolutionary achievement not only for MN Pharmaceuticals but also for the Turkish Pharma Industry. This challenging project will be realised by using MN's know-how and most up-to-date technologies in its facilities and more importantly this is a strategic alliance not a contract manufacturing deal therefore this revolutionary achievement made Turkish Pharma Industry's dream come true." said M. Levent Selamoğlu, CEO of MN Pharmaceuticals.

Under the terms of the agreement, MN Pharmaceuticals will help PAR Pharmaceutical Companies, Inc. to bring new generic products into the U.S. market and Par will provide regulatory affairs support and submit each Abbreviated New Drug Application (ANDA) to the U.S. Food and Drug Administration (FDA) as the U.S. filing agent and MN Pharmaceuticals will be the registration holder.

Par will be responsible for any litigation expenses arising from the ANDA submissions. Par Pharmaceutical Companies, Inc. will have exclusive rights to market, sell and distribute the products in the U.S. MN Pharmaceuticals and PAR Pharmaceutical Companies, Inc. will share the net profits generated by all marketed products.

About PAR Pharmaceutical Companies, Inc.

Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic pharmaceuticals through its principal subsidiary, Par Pharmaceutical Companies, 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

About MN Pharmaceuticals

MN Pharmaceuticals is one of the leading and oldest pharmaceutical companies in Turkey. With 1000 trained personnel and modern facilities, MN Pharmaceuticals is a leading manufacture of bulk pharmaceutical chemicals and finished dosage forms. Its high-capacity injectable units and lyophilization facilities make MN Pharmaceuticals Turkey's most experienced pharmaceutical company in parenteral drug manufacturing.

More information about MN Pharmaceuticals can be found at www.mn.com.tr