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): April 28, 2005

                       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   (COMMISSION FILE NUMBER)    (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)                               IDENTIFICATION NO.)



 300 TICE BOULEVARD, WOODCLIFF LAKE, NJ                            07677
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                        (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):

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

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

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

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






ITEM 2.02.        RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
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        On April 28, 2005, Par Pharmaceutical Companies, Inc. issued a press
release regarding its earnings for the first quarter ended April 3, 2005. A copy
of the press release is set forth in Exhibit 99.1 attached hereto.

        The information in this Current Report on Form 8-K, including Exhibit
99.1, is furnished pursuant to Item 2.02 and shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as
amended, except as shall be expressly set forth by specific reference in such
filing.

ITEM 9.01.        FINANCIAL STATEMENTS AND EXHIBITS
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(c)  Exhibits

99.1     Press Release Dated April 28, 2005

                                   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: April 28, 2005


                                        PAR PHARMACEUTICAL COMPANIES, INC.
                                    ------------------------------------------
                                                  (Registrant)


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


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                                  EXHIBIT INDEX





EXHIBIT NO.     DESCRIPTION
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99.1            Press Release Dated April 28, 2005