Company Also Announces Conference Call and Webcast Details for 2007 First
Quarter Financial Results on May 2, 2007
BOCA RATON, Fla., April 19 /PRNewswire-FirstCall/ -- Nabi
Biopharmaceuticals (Nasdaq: NABI) today announced that it has executed a
definitive agreement to sell its Aloprim(TM) (allopurinol sodium) for
Injection product to Bioniche Teoranta. Bioniche Teoranta is based in
Ireland and is part of Bioniche Pharma Group. The aggregate sale proceeds
for Aloprim is $3.7 million -- Nabi will receive $1.3 million at closing,
$1.4 million at the end of 2007 and $1.0 million at the end of 2008. The
closing of the transaction is subject to customary closing conditions and
is expected to be completed during the second quarter.
"When we recently announced our intent to form two strategic business
units -- Nabi Biologics and Nabi Pharmaceuticals -- we determined Aloprim
was no longer a strategic component of our product portfolio," said Dr.
Leslie Hudson, Interim President and Chief Executive Officer of Nabi. "This
sale marks another step for Nabi toward the realization of our strategic
plan."
The company also announced today that it will report its 2007 first
quarter financial results on Wednesday, May 2, 2007, after market close.
The company will host a live webcast at 4:30 p.m. ET that day to discuss
these results.
The live webcast can be accessed at http://phx.corporate-
ir.net/phoenix.zhtml?p=irol-eventDetails&c=100445&eventID=1523652 or via
the Nabi Biopharmaceuticals website at http://www.nabi.com. If you do not
have Internet access, the U.S./Canada call-in number is (800) 901-5259,
conference code 52348815, and the international call-in number is (617)
786-4514, conference code 52348815. An audio replay will be available for
U.S./Canada callers at (888) 286-8010, conference code 36684499, and for
international callers at (617) 801-6888, conference code 36684499.
An archived version of the webcast will be available at the same
Internet address through May 9, 2007. The audio replay also will be
available through May 9, 2007. The press release will be available on the
company's website at http://www.nabi.com.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in
powering the immune system to develop and market products that fight
serious medical conditions. The company has two products on the market
today: Nabi-HB(R) [Hepatitis B Immune Globulin (Human)], and Aloprim(TM)
(allopurinol sodium) for Injection. Nabi Biopharmaceuticals is focused on
developing products that address unmet medical needs and offer commercial
opportunities in our core business areas: Hepatitis and transplant,
Gram-positive bacterial infections and nicotine addiction. The company
recently announced that it intends to form two strategic business units:
Nabi Biologics and Nabi Pharmaceuticals. Nabi Biologics will have
responsibility for the company's protein and immunological products and
development pipeline, including Nabi-HB. Nabi Pharmaceuticals will have
responsibility for the NicVAX(R) (Nicotine Conjugate Vaccine) and
StaphVAX(R) (Staphylococcus aureus Polysaccharide Conjugate Vaccine)
development programs, as well as for the continuing milestone-related
clinical development obligations following the sale of PhosLo(R) (calcium
acetate). For more information about these business units and a complete
list of pipeline products, please go to:
http://www.nabi.com/pipeline/index.php. The company is headquartered in
Boca Raton, Florida. For additional information about Nabi
Biopharmaceuticals, please visit our website: http://www.nabi.com.
Forward-Looking Statements
Statements in this press release about the company that are not
strictly historical are forward-looking statements and include statements
related to our agreement to sell Aloprim and the anticipated proceeds from
the sale. You can identify some of these forward-looking statements because
they involve our expectations, beliefs, intentions, plans, projections,
goals, objectives, or other characterizations of future events or
circumstances. These forward- looking statements are not guarantees of
future performance and are subject to risks and uncertainties that may
cause actual results to differ materially from those in the forward-looking
statements as a result of any number of factors. These factors include, but
are not limited to, risks relating to the company's ability to close the
Aloprim transaction and collect the anticipated proceeds from the sale; and
complete transactions that represent strategic alternatives and
opportunities generally. Certain of these factors and other factors are
discussed in the company's Annual Report on Form 10-K for the fiscal year
ended December 30, 2006.
SOURCE Nabi Biopharmaceuticals
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Related links:
http://www.nabi.com
http://www.nabi.com/pipeline/index.php
CONTACT:
Keri P. Mattox, Investor Relations, Nabi
Biopharmaceuticals, +1-561-989-5800
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