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      D.C. 20549</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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      8-K</strong></font></div>
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      REPORT </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
      TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DATE
      OF
      REPORT (DATE OF EARLIEST EVENT REPORTED):&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>August
      2, 2006</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong><u>Lev
      Pharmaceuticals, Inc.</u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in its charter) </font></div>
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      FILE NUMBER</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>:&#160;000-32947</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>88-0211496</u></strong></font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                or other jurisdiction of incorporation or organization)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                Employer Identification No.)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>122
                East 42</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup><strong>nd</strong></sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
                Street, Suite 2606</strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>New
                York, NY 10168</u></strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                and zip code of principal executive
                offices)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>(212)
      682-3096</u></strong></font></div>
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      telephone number, including area code </font><br></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings"><strong>&#168;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                Written communications pursuant to Rule 425 under the Securities
                Act (17
                CFR 230.425)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings"><strong>&#168;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                Soliciting material pursuant to Rule 14a-12 under the Exchange Act
                (17 CFR
                240.14a-12)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings"><strong>&#168;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                Pre-commencement communications pursuant to Rule 14d-2(b) under the
                Exchange Act (17 CFR 240.14d-2(b))</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings"><strong>&#168;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                Pre-commencement communications pursuant to Rule 13e-4(c) under the
                Exchange Act (17 CFR 240.13e-4(c))</font></div>
            </td>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="1">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                1.01</strong></font></div>
            </td>
            <td align="left" colspan="3" valign="middle" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
                into a Material Definitive Agreement.</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
                August 2, 2006, Lev Pharmaceuticals, Inc. (the &#8220;Registrant&#8221;) entered into
                an employment agreement with Joseph Truitt, its new Vice President
                -
                Marketing and Sales, pursuant to which:</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">&#183;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
                Truitt will serve as our Vice President - Sales and Marketing on
                an
                at-will basis and receive an annual base salary of $240,000 during
                the
                term of the agreement and will be eligible to receive an annual bonus
                of
                up to 35% of his base salary subject to his attainment of performance
                criteria to be approved by the Board. In addition, the Registrant
                awarded
                Mr. Truitt a one-time signing bonus of $30,000 upon the execution
                of the
                employment agreement.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 11.4pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">&#183;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
                connection with his entering into the employment agreement, Mr. Truitt
                was
                granted options to purchase 600,000 shares of the Registrant&#8217;s common
                stock at an exercise price equal to the closing price of its common
                stock,
                as reported on the OTC Bulletin Board on the effective date of the
                employment agreement. These o</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ptions
                vest as follows: 200,000 shares vest on the commencement date of
                the
                employment agreement, o</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ptions
                to purchase an additional 400,000 shares shall vest in equal amounts
                of
                100,000 on each of the first four anniversary dates of the commencement
                date. In the event of a Change of Control (as defined in the Registrant&#8217;s
                2004 Omnibus Incentive Compensation Plan), the options shall become
                immediately vested and exercisable in accordance with, and subject
                to, the
                terms and conditions of such plan.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 11.4pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 11.4pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">&#183;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
                Mr.&#160;Truitt&#8217;s employment is terminated by us without &#8220;cause&#8221; (as
                defined in the employment agreement), he would be entitled to:
                (i)&#160;continuation of his base salary, at the rate then in effect, for
                a period of twelve months and (ii)&#160;the continued participation in our
                benefit plans (or comparable plans) for the period of time from the
                date
                of termination until the end of the month in which the final severance
                payment is made. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 11.4pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">&#183;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
                Mr.&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Truitt</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8217;s
                employment is terminated by us for &#8220;cause&#8221;, he (a)&#160;would not be
                entitled to any further compensation or benefits and (b) would not
                be
                entitled to any additional rights or vesting with respect to the
                stock
                options following the date of termination.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -0.3pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3.95pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -4.7pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -0.3pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3.95pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -4.7pt">&#160;</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">&#183;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Truitt</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                is
                subject to customary confidentiality obligations, non-solicitation
                and
                non-competition that survive the termination of the employment
                agreement.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                above summary is qualified in its entirety by reference to the actual
                employment agreement entered into between the Registrant and Mr.
                Truitt, a
                copy of which is attached hereto as Exhibits&#160;10.1 and which is
                incorporated by reference in this Item&#160;1.01 in its
                entirety.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                3.02</strong></font></div>
            </td>
            <td align="left" colspan="3" valign="middle" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Unregistered
                Sales of Equity Securities.</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                information required to be disclosed in this Item 3.02 concerning
                the
                grant of stock options to Mr. Truitt is incorporated herein by reference
                from Item 1.01.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="page_2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                8.01</strong></font></a></div>
            </td>
            <td align="left" colspan="3" valign="middle" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
                Events.</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
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                August 3, 2006, Lev Pharmaceuticals, Inc. announced that it appointed
                Mr.
                Joseph Truitt as its Vice President - Marketing and Sales. A copy
                of the
                press release is attached to this Report on Form 8-K as Exhibit
                99.1.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="justify" colspan="3" valign="middle" width="76%">&#160;</td>
          </tr>
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            <td align="left" valign="middle" width="7%">
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                Statements and Exhibits.</strong></font></div>
            </td>
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            <td align="left" colspan="3" valign="middle" width="76%">&#160;</td>
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            <td align="left" valign="middle" width="7%">
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            </td>
            <td align="justify" colspan="3" valign="middle" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 11.4pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits.</strong></font></div>
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            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="justify" colspan="3" valign="middle" width="76%">&#160;</td>
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            <td align="left" valign="middle" width="7%">&#160;</td>
            <td align="left" colspan="3" valign="middle" width="76%">
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                following exhibits are filed or furnished herewith:</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
            </td>
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    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <tr>
            <td align="justify" colspan="2" valign="top" width="18%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
                No.</u></font></div>
            </td>
            <td align="justify" valign="top" width="2%" style="border-bottom: medium none;">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="64%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description
                of Document</u></font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" colspan="2" valign="top" width="18%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="64%">&#160;</td>
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            <td align="justify" colspan="2" valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
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            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="64%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement between the Registrant and Joseph Truitt</font></div>
            </td>
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            <td align="justify" colspan="2" valign="top" width="18%">&#160;</td>
            <td align="justify" valign="top" width="2%">&#160;</td>
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            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" colspan="2" valign="top" width="64%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release dated August 3, 2006</font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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, hereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
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          <tr>
            <td valign="middle" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="middle" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>LEV
                PHARMACEUTICALS, INC.</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="middle" width="33%">&#160;</td>
            <td valign="middle" width="3%">&#160;</td>
            <td align="left" valign="middle" width="42%">&#160;</td>
          </tr>
          <tr>
            <td valign="middle" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="middle" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="middle" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
            <td align="left" valign="middle" width="42%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                Joshua D. Schein, Ph.D. </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
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            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
                &#160;&#160;Chief Executive Officer and President</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="33%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="middle" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;
                August 3, 2006</font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr bgcolor="white">
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      </table>
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            <td align="justify" valign="top" width="2%">&#160;</td>
            <td align="justify" valign="top" width="64%">&#160;</td>
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                Agreement between the Registrant and Joseph Truitt</font></div>
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                Release dated August 3, 2006</font></div>
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{"company-data": {"conformed-name": "Lev Pharmaceuticals Inc", "cik": "0001144062", "assigned-sic": "2834", "irs-number": "880211496", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32947", "film-number": "061002416"}, "business-address": {"street1": "122 WEST 42ND STREET", "street2": "SUITE 2606", "city": "NEW YORK", "state": "NY", "zip": "10168", "phone": "212-682-3096"}, "mail-address": {"street1": "122 WEST 42ND STREET", "street2": "SUITE 2606", "city": "NEW YORK", "state": "NY", "zip": "10168"}, "former-company": {"former-conformed-name": "FUN CITY POPCORN INC", "date-changed": "20010628"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 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):
August
      2, 2006
Lev
      Pharmaceuticals, Inc.
(Exact
      name of registrant as specified in its charter)
COMMISSION
      FILE NUMBER
: 000-32947
DELAWARE
88-0211496
(State
                or other jurisdiction of incorporation or organization)
(I.R.S.
                Employer Identification No.)
122
                East 42
nd
Street, Suite 2606
New
                York, NY 10168
(Address
                and zip code of principal executive
                offices)
(212)
      682-3096
(Registrant's
      telephone number, including area code
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:
¨
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))
1
Item
                1.01
Entry
                into a Material Definitive Agreement.
On
                August 2, 2006, Lev Pharmaceuticals, Inc. (the "Registrant") entered into
                an employment agreement with Joseph Truitt, its new Vice President
                -
                Marketing and Sales, pursuant to which:
·
Mr.
                Truitt will serve as our Vice President - Sales and Marketing on
                an
                at-will basis and receive an annual base salary of $240,000 during
                the
                term of the agreement and will be eligible to receive an annual bonus
                of
                up to 35% of his base salary subject to his attainment of performance
                criteria to be approved by the Board. In addition, the Registrant
                awarded
                Mr. Truitt a one-time signing bonus of $30,000 upon the execution
                of the
                employment agreement.
·
In
                connection with his entering into the employment agreement, Mr. Truitt
                was
                granted options to purchase 600,000 shares of the Registrant's common
                stock at an exercise price equal to the closing price of its common
                stock,
                as reported on the OTC Bulletin Board on the effective date of the
                employment agreement. These o
ptions
                vest as follows: 200,000 shares vest on the commencement date of
                the
                employment agreement, o
ptions
                to purchase an additional 400,000 shares shall vest in equal amounts
                of
                100,000 on each of the first four anniversary dates of the commencement
                date. In the event of a Change of Control (as defined in the Registrant's
                2004 Omnibus Incentive Compensation Plan), the options shall become
                immediately vested and exercisable in accordance with, and subject
                to, the
                terms and conditions of such plan.
·
If
                Mr. Truitt's employment is terminated by us without "cause" (as
                defined in the employment agreement), he would be entitled to:
                (i) continuation of his base salary, at the rate then in effect, for
                a period of twelve months and (ii) the continued participation in our
                benefit plans (or comparable plans) for the period of time from the
                date
                of termination until the end of the month in which the final severance
                payment is made.
·
If
                Mr.
Truitt
's
                employment is terminated by us for "cause", he (a) would not be
                entitled to any further compensation or benefits and (b) would not
                be
                entitled to any additional rights or vesting with respect to the
                stock
                options following the date of termination.
·
Mr.
Truitt
is
                subject to customary confidentiality obligations, non-solicitation
                and
                non-competition that survive the termination of the employment
                agreement.
The
                above summary is qualified in its entirety by reference to the actual
                employment agreement entered into between the Registrant and Mr.
                Truitt, a
                copy of which is attached hereto as Exhibits 10.1 and which is
                incorporated by reference in this Item 1.01 in its
                entirety.
Item
                3.02
Unregistered
                Sales of Equity Securities.
The
                information required to be disclosed in this Item 3.02 concerning
                the
                grant of stock options to Mr. Truitt is incorporated herein by reference
                from Item 1.01.
Item
                8.01
Other
                Events.
On
                August 3, 2006, Lev Pharmaceuticals, Inc. announced that it appointed
                Mr.
                Joseph Truitt as its Vice President - Marketing and Sales. A copy
                of the
                press release is attached to this Report on Form 8-K as Exhibit
                99.1.
Item
                9.01
Financial
                Statements and Exhibits.
(c)
Exhibits.
The
                following exhibits are filed or furnished herewith:
2
Exhibit
                No.
Description
                of Document
10.1
Employment
                Agreement between the Registrant and Joseph Truitt
99.1
Press
                Release dated August 3, 2006
SIGNATURE
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, hereunto
      duly authorized.
LEV
                PHARMACEUTICALS, INC.
By:
/s/
                Joshua D. Schein, Ph.D.
Name:
                Joshua D. Schein, Ph.D.
Title:
                  Chief Executive Officer and President
Date: 
                August 3, 2006
Exhibit
      Index
Exhibit
                No.
Description
                of Document
10.1
Employment
                Agreement between the Registrant and Joseph Truitt
99.1
Press
                Release dated August 3, 2006
3