** **
   **UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM      10-QSB/A**

**(Amendment      No. 1)**

**(Mark      One)**

| **x** |   | **QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE                ACT                OF 1934** |
|-------|--------|----------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |                                                                            |
|--------|--------|---------------------------------------------------------------------------------|
|   |   | **For                the quarterly period ended March 31,                2007** |

**or**

| **o** |   | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE                ACT                OF 1934** |
|-------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |                                                                                                                           |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------|
|   |   | **For                the transition period from  ________     to                ______________** |

**Commission      File Number: 000-32947**

**Lev      Pharmaceuticals, Inc.**

| **Delaware**                                                                                | **88-0211496**                                      |
|---------------------------------------------------------------------------------------------|-----------------------------------------------------|
| (State                or other jurisdiction ofincorporation                or organization) | (I.R.S.                Employer Identification No.) |
|                                                                                        |                                                |
| **675                Third Avenue, Suite 2200****New                York, New York**        | **10017**                                      |
| (Address                of principal executive offices)                                     | (Zip                Code)                           |

**Issuer’s      telephone number: (212) 682-3096**

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**Lev      Pharmaceuticals, Inc.**

**Index      to Form 10-QSB/A**

|                    |                             | Page   |
|-------------------------|----------------------------------|--------|
| Part                II. | Other                Information |   |
|                    |                             |   |
| Item                6.  | Exhibits                         | 3      |
|                    |                             |   |
|                    | Signatures                       | 4      |

**Explanatory      Note **

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**PART      II - OTHER INFORMATION**

**ITEM      6. EXHIBITS**

 

|                        |   |                                                                                                                                                                                            |   | **Incorporated                by Reference** |   |      |
|-----------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------|--------|-----------|
| **Exhibit** **Number** |   | **Exhibit                Description**                                                                                                                                                          |   | **Form**                                     |   | **Dated** |   | **Exhibit** |   | **Filed** **Herewith** |
| 10.1                        |   | Employment                Agreement between the Registrant and Judson Cooper                                                                                                                    |   | 10-KSB                                       |   | 3/30/07   |   | 10.15 |   |   |
|                        |   |                                                                                                                                                                                            |   |                                         |   |      |   |   |   |   |
| 10.2                        |   | Employment                Agreement between the Registrant                and Joshua D. Schein                                                                                                  |   | 10-KSB                                       |   | 3/30/07   |   | 10.16 |   |   |
|                        |   |                                                                                                                                                                                            |   |                                         |   |      |   |   |   |   |
| 10.3                        |   | Offer                Letter between the Registrant                and Dov Elefant                                                                                                               |   | 10-KSB                                       |   | 3/30/07   |   | 10.17 |   |   |
|                        |   |                                                                                                                                                                                            |   |                                         |   |      |   |   |   |   |
| 10.4*                  |   | Plasma                Supply Agreement                                                                                                                                                          |   |                                         |   |      |   |   |   | X |
|                        |   |                                                                                                                                                                                            |   |                                         |   |      |   |   |   |   |
| 31.1                        |   | Certification                of Chief Executive Officer pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |   |                                         |   |      |   |   |   | X |
|                        |   |                                                                                                                                                                                            |   |                                         |   |      |   |   |   |   |
| 31.2                        |   | Certification                of Chief Financial Officer pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |   |                                         |   |      |   |   |   | X |
|                        |   |                                                                                                                                                                                            |   |                                         |   |      |   |   |   |   |
| 32.1                        |   | Certification                of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |   | 10-QSB                                       |   | 5/15/07   |   | 32.1 |   |   |
|                        |   |                                                                                                                                                                                            |   |                                         |   |      |   |   |   |   |
| 32.2                        |   | Certification                of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |   | 10-QSB                                       |   | 5/15/07   |   | 32.2 |   |   |

*      Confidential treatment has been requested with respect to portions of this      document pursuant to Rule 24b-2 of the Securities Exchange Act. The redacted      portions of this document were filed separately with the Securities and Exchange      Commission.

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**SIGNATURES**

|                           |                                         |                                       |
|--------------------------------|----------------------------------------------|--------------------------------------------|
|                           | **Lev                Pharmaceuticals, Inc.** |
|                           |                                         |
| August                27, 2007 | By:                                | /s/                Joshua D. Schein, Ph.D. |
|                           | Joshua                D. Schein, Ph.D.       |
|                           | Chief                Executive Officer       |
|                           |                                         |                                       |
| August                27, 2007 | By:                                | /s/                Douglas J. Beck         |
|                           | Douglas                J. Beck               |
|                           | Chief                Financial Officer       |

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