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Par elects new chairman

US generic drug manufacturer Par Pharmaceutical has elected president and CEO Patrick G LePore as chairman of the board of directors.

US generic drug manufacturer Par Pharmaceutical has elected president and CEO Patrick G LePore as chairman of the board of directors.

LePore, who joined Par's board in May 2006, has been president and CEO since September 2006.

LePore replaces John D Abernathy as chairman. Abernathy will remain a board member.

Joseph E Smith, a member of the board since 2004, has been named lead director. Prior to his retirement in 1997, he held leadership positions with Warner-Lambert.

On 9 August, Par's shares fell USD 0.73, or 3.5 per cent, to USD 20.03 in pm trading. Shares have traded between USD 15.50 and USD 30.68 over the past year.

10th August 2007

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