SAN DIEGO, Jan. 28 /PRNewswire/ -- Dura Pharmaceuticals, Inc.
(Nasdaq: DURA) announced today that a group of shareholders has filed a
lawsuit against the Company and several of its current or former officers and
directors in the United States District Court for the Southern District of
California. The lawsuit alleges violations of the federal securities laws,
and purports to seek damages on behalf of a class of shareholders who
purchased Dura common stock during the period of April 15, 1997 through
February 24, 1998. The Company believes that the lawsuit is without merit and
intends to defend against it vigorously.
Dura Pharmaceuticals, Inc. is a San Diego based developer and marketer of
prescription pharmaceutical products for the treatment of allergies, asthma,
pneumonia and related respiratory conditions. Dura has focused on the U.S.
respiratory market because of its size and growth opportunities through two
major strategies: (1) acquiring prescription pharmaceuticals and/or
businesses developing or marketing such pharmaceuticals to support our
marketing presence in high-prescribing respiratory physicians' offices and/or
the hospital market, and (2) developing Spiros(R), a pulmonary drug delivery
system for both topical and systemic delivery of medications.
Except for the historical and factual information contained herein, the
matters discussed in this press release may contain forward-looking statements
which involve risks and uncertainties, including market conditions,
competitive products and pricing, seasonality, the ability of the Company to
add qualified sales representatives in a timely manner, the timely
establishment of a hospital sales force and marketing capability, the timely
development of the Spiros(R) system, the timely receipt of FDA approval of
Spiros(R) products, if at all, Dura's limited manufacturing experience,
dependency upon third parties and their successful development efforts and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission. Actual results may differ materially from
those projected. Any forward-looking statements represent the Company's
judgment as of the date of this release. The Company disclaims, however, any
intent or obligation to update these forward-looking statements.
SOURCE Dura Pharmaceuticals, Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/197051.html or fax,
800-758-5804, ext. 197051
CONTACT:
Karen Lundstedt, Director, Investor Relations
of Dura Pharmaceuticals, Inc., 619-457-2553
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