Par elects new member for board of directors

WOODCLIFF LAKE, N.J. Generic drug maker Par Pharmaceutical Cos. has elected Thomas Rice to its board of directors and appointed him to its auditing and nominating-corporate governance committees, the company announced Friday.

Rice is a principal and co-founder of Baltimore-based Columbia Investments, which invests in Maryland-based businesses. From February 2004 to November 2006, he was CEO of Andrx Corp., which was sold to Watson Pharmaceuticals, also serving as director of Andrx from April 2003 to November 2006. He is currently a director of Chemed Corp., which owns VITAS Healthcare Corp. and Roto-Rooter.

“We are very pleased to welcome Tom to our board of directors,” Par president and CEO Patrick LePore said. “Tom is a proven and successful executive whose extensive knowledge of the generic and branded pharmaceutical operations will bring valuable insight to our board.”