Advises Stockholders to Take No Action at This Time
BOCA RATON, Fla., Oct. 31 /PRNewswire-FirstCall/ -- Nabi
Biopharmaceuticals (Nasdaq: NABI) today learned that Third Point LLC has
filed preliminary proxy materials in connection with a potential consent
solicitation. Since there is no consent solicitation in effect at this
time, Nabi Biopharmaceuticals stockholders need take no action. The Board
of Directors of Nabi Biopharmaceuticals, consistent with its fiduciary duty
and in consultation with its independent financial and legal advisors, will
meet to review and discuss Third Point's filing and will communicate with
stockholders in due course.
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 three products on the market
today: PhosLo(R) (calcium acetate), 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, kidney disease (nephrology), Gram-positive
bacterial infections and nicotine addiction. For 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 Web site:
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 plans to explore strategic alternatives and prospects. You
can identify these forward-looking statements because they involve our
expectations, beliefs, intentions, plans, projections, 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 advance the development of products currently in
the pipeline or in clinical trials; maintain the human and financial
resources to commercialize current products and bring to market products in
development; obtain regulatory approval for its products in the U.S.,
Europe or other markets; successfully develop, manufacture and market its
products; successfully partner with other companies; realize future sales
growth for its biopharmaceutical products; maintain sufficient intellectual
property protection or positions; raise additional capital on acceptable
terms; re-pay its outstanding convertible senior notes when due; and
identify and complete transactions that represent strategic alternatives
and opportunities. Many of these factors are more fully discussed, as are
other factors, in the company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2005 and Quarterly Report on Form 10-Q for the
Quarter ended July 1, 2006 filed with the Securities and Exchange
Commission.
Important Information
Nabi Biopharmaceuticals (the "Company") plans to file materials with
the Securities and Exchange Commission ("SEC") in connection with the
consent solicitation begun by Third Point and its affiliates. Stockholders
are strongly advised to read these materials when they become available, as
they will contain important information. Stockholders will be able to
obtain these materials and other documents filed by the Company with the
SEC for free at the Internet website maintained by the SEC at
http://www.sec.gov. When available, copies of these materials and other
related documents will also be available for free at the Company's Internet
website at http://www.nabi.com or by writing to Nabi Biopharmaceuticals,
Attention: Investors Relations, 5800 Park of Commerce Blvd., N.W., Boca
Raton, FL 33487.
The Company, its directors and certain of its officers may be deemed
participants in the solicitation of the Company's stockholders. Information
regarding the names and interests of these persons will be contained in the
materials filed with the SEC.
SOURCE Nabi Biopharmaceuticals
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Related links:
http://www.nabi.com
CONTACT:
Thomas E. Rathjen, Vice President, Investor
Relations, of Nabi Biopharmaceuticals, +1-561-989-5800
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