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Investors - Company Overview

We are a specialty pharmaceutical company with market leadership in pain management.  We are engaged in the research, development, sale and marketing of branded and generic prescription pharmaceuticals used primarily to treat and manage pain.  According to Wolters Kluwer Health data, the total U.S. market for pain management pharmaceuticals, excluding over-the-counter products, totaled $21.5 billion in 2007. Our primary area of focus within this market is in the opioid analgesics segment.  Total U.S. sales for this segment were estimated to be $8.2 billion in 2007.

We have a portfolio of branded, marketed products that includes established brand names such as Lidoderm® (lidocaine patch 5%), Percocet® (oxycodone and acetaminophen tablets USP) CII, and Frova® (frovatriptan succinate) tablets, as well as newer products Opana ER® (oxymorphone HCl) CII extended-release tablets, Opana® (oxymorphone HCl) and CII immediate-release tablets  Branded products comprised approximately 80% of our net sales in 2006.  Our generic portfolio, which accounted for about 20% of net sales in 2006, consists of products that cover a variety of indications, most of which are focused in pain management.  We focus on generics that have one or more barriers to market entry, such as complex formulation, regulatory or legal challenges or difficulty in raw material sourcing.

We have established research and development expertise in analgesics and devote significant resources to this effort so that we can maintain and develop our product pipeline, which currently includes five branded products in mid- to late-stage development.

Through an internal sales force of approximately 690 sales representatives in the United States, we market our branded pharmaceutical products to high-prescribing physicians in pain management, surgery, oncology, anesthesiology and primary care.  Our sales force also targets retail pharmacies and other healthcare professionals throughout the United States.

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