UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

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): May 26, 2006 (May 18, 2006)

PAR PHARMACEUTICAL COMPANIES, INC.

(Exact name of registrant as specified in its charter)

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

300 Tice Boulevard, Woodcliff Lake, New Jersey
(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 (see General Instruction A.2. below):

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 Registrant hereby amends its Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on May 24, 2006, to correct a typographical error in the Press Release attached as Exhibit 99.1 thereto. Please note that no other changes or additions are being made to the Registrant’s Form 8-K as filed with the SEC on May 24, 2006.

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

The Board of Directors (the “Board”) of Par Pharmaceutical Companies, Inc. has selected Mr. Patrick G. LePore to serve as a Class III Director on the Board, effective as of May 18, 2006. Mr. LePore will fill the vacancy on the Board created by the resignation of Dr. Arie Gutman in January. Mr. Lepore will serve on the Board’s Compensation Committee as well as its newly-formed Corporate Strategy Committee.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits.

99.1. Press Release (corrected), dated May 22, 2006, by the Registrant.

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: May 26, 2006

PAR PHARMACEUTICAL COMPANIES, INC.
			(Registrant)
	/s/ Thomas Haughey__________________
	Name:	Thomas Haughey
	Title:	Executive Vice President and General Counsel

EXHIBIT INDEX

EXHIBIT	DESCRIPTION
99.1.	Press Release (corrected), dated May 22, 2006, by the Registrant.