1. Novel Development of IR Oxycodone HCl Tablets with Aversion ® Technology Kenneth W Sommerville MD Vice President, Clinical Research Robert Rolleri Pharm D Senior Director, Clinical Research King Pharmaceuticals March 6, 2009

2. 2 Disclosures Drs Sommerville and Rolleri are full-time employees of King Pharmaceuticals and own stock in the company The development of Acurox ® Tablets has been supported by Acura Pharmaceuticals and King Pharmaceuticals

3. 3 Acurox ® and Aversion ® Technology Aversion ® Technology is a patented platform for developing pharmaceutical products containing drugs of potential abuse, including oxycodone and other opioid analgesics. Acurox ® is a short-acting, immediate-release tablet formulation of oxycodone HCl developed with Aversion ® Technology The two active ingredients: –Oxycodone HCl for relief of moderate to severe pain –Niacin to deter excess oral consumption Also contains essential functional inactive ingredients

4. 4 Acurox ® Clinical Program Ten clinical studies Three pharmacokinetic Three for niacin dosing One for efficacy/safety Three abuse liability Multiple laboratory studies Oxycodone extraction tests using independent non-affiliated labs Syringeability tests

5. 5 Acurox ® Results of Study 105: Patient Disposition 33% SCREEN FAILURE Patients Screened (N = 606) Placebo N = 136 Withdrawals N = 8 RX Failure (3) Withdrew Consent (3) Non Compliance (1) Lost to FU (1) Patients Randomized (N = 405) Acurox ® 5/30 N = 135 Acurox ® 7.5/30 N = 134 Withdrawals N = 8 Adverse Event (2) RX Failure (1) Withdrew Consent (4) Non Compliance (1) Withdrawals N = 5 Adverse Event (4) Other (1)

6. 6 N=136N=134N=135 P = 0.0001 vs. placebo P = <0.0001 vs. placebo Acurox ® Results: Pivotal Efficacy/Safety Trial (Study 105) Primary Efficacy Endpoint (SPID 48 ) millimeters

7. 7 Acurox ® Safety in Study 105 Six patients (2.2%) withdrew for adverse events compared to 0% on placebo. The most common adverse events with Acurox ® were nausea, vomiting, dizziness, pruritus, and flushing. Most adverse events were mild or moderate and there were no serious adverse events.

8. 8 Abuse Liability Studies of Acurox ® Three studies were performed –Two for oral abuse –One for nasal abuse (snorting) Subjects were non-opioid dependent past or current opioid users The oral abuse studies showed: –Response to niacin 240 mg alone compared to placebo causes significant dislike scores (p =.03) –The combination of oxycodone HCl 40mg and niacin 240mg (4 times the expected recommended dose of two Acurox ® Tablets 5/30mg) have the potential to be aversive when compared to oxycodone HCl 40mg alone as shown by statistically significant and clinically meaningful results in the dislike/like scores (p =.033), The nasal (snorting) study results are to be released later in 2009.

9. 9 Acurox ® Clinical Summary Demonstrated to be effective and well-tolerated in a post-operative model (bunionectomy) of moderate to severe pain. The combination of oxycodone/niacin is well tolerated at ratios of 5/30 and 7.5/30. Drug-disliking demonstrated for doses 4X recommended at 0.5 hours after ingestion. Nasal snorting study results to be reported later this year. NDA Submitted Dec. 30, 2008

10. 10 LAUGHING AT PHARMA New York: New Yorker and Pharmaceutical Publication, 2004 Artist Peter Steiner