Par Pharmaceutical Companies, Inc. is a holding company. The Company, through its wholly owned operating subsidiary, Par Pharmaceutical, Inc., specializes in developing, licensing, manufacturing, marketing and distributing generic drugs in the United States. It has a generics portfolio of around 95 products across a of dosage forms and delivery systems, including immediate and extended release oral solids (tablets, orally disintegrating tablets, capsules and powders), injectables, nasal sprays, ophthalmics and transdermal patches. The Company operates in two business segments: Par Pharmaceutical (Par) segment, which includes both generic products marketed under Par Pharmaceutical and sterile products marketed under Par Sterile Products, LLC (Par Sterile Products or Par Sterile) and Par Specialty Pharmaceuticals (Par Specialty) segment, which markets two branded products. The Company has around 200 products in its pipeline.