Company Announces Plans for 2004 Financial Guidance Web Cast
WILMINGTON, N.C., Dec. 2 /PRNewswire-FirstCall/ -- aaiPharma Inc.
(Nasdaq: AAII) announced today that it has received clearance under the Hart-
Scott-Rodino Antitrust Improvements Act of 1976 by the Federal Trade
Commission for and completed the acquisition of Roxicodone(R), Oramorph(R) SR,
and Roxanol(TM) and Duraclon(R) from Elan Corporation, plc companies.
aaiPharma plans to formally launch the products with a focused sales force
promotion in mid-January 2004. Roxicodone(R), Oramorph (R) SR, and
Roxanol(TM) will mark aaiPharma's first foray into the oral Schedule II class
of pain management products, further augmenting its portfolio of branded pain
therapies. These products are complementary to aaiPharma's existing
Darvon(R)/Darvocet(TM) portfolio of Schedule IV pain products, and Duraclon(R)
brings additional depth to its injectable pain product line, which consists of
an injectable methadone product.
"These products are an excellent fit with our current sales and promotion
focus in pain management and allow us to expand into the moderate to severe
pain market," commented Dr. Philip S. Tabbiner, President and CEO of
aaiPharma. "These products, coupled with the recent launch of Darvocet
A500(TM), position aaiPharma for continued growth in the pain management
category."
aaiPharma also announced that the Company will release its 2004 financial
guidance before the market opens on Friday, December 12, 2003. The Company
will host a conference call live over the Internet on Friday, December 12,
2003 at 8:30 a.m. (ET).
The broadcast will be hosted on the Company's web site located
at http://www.aaipharma.com . A replay of the web cast will be available shortly
after the call. Please allow extra time prior to the call to visit the site
and download the streaming media software required to listen to the Internet
broadcast.
About aaiPharma
aaiPharma Inc. is a leading, science-based specialty pharmaceutical
company with corporate headquarters in Wilmington, North Carolina. With more
than 23 years of drug development expertise and a proven sales and marketing
track record, the Company is focused on acquiring, improving and marketing
well-known, branded medicines in pain management, critical care and
gastroenterology. In addition to its branded product portfolio and robust
pipeline, aaiPharma continues to offer comprehensive drug development services
to the pharmaceutical, biotechnology, generic and device industries through
its services division, AAI Development Services. For more information, please
visit aaiPharma's website at http://www.aaipharma.com .
Forward Looking Statements
Information in this press release contains certain "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities and Exchange Act of 1934, including
statements concerning the future accretive nature of these product
acquisitions and their commercial fit and significance in the marketplace.
The "forward-looking statements" herein involve risks and uncertainties that
could cause actual results to differ materially, including, without
limitation, risks and uncertainties pertaining aaiPharma's ability to timely
and successfully develop, improve, obtain timely regulatory approval for, and
profitably sell pharmaceutical products (including the products acquired from
Elan); to obtain, use, enforce, defend and license valid and commercially
valuable patents; and to obtain and enforce existing and future contracts with
major pharmaceutical companies for significant royalties and other
consideration. Additional factors that may cause the actual results to differ
materially are discussed in aaiPharma's recent filings with the Securities and
Exchange Commission, including, but not limited to, its Annual Report on Form
10-K filed on March 28, 2003, including its exhibits; its Forms 10-Q filed on
May 15, 2003, August 14, 2003 (including its Exhibit 99.1) and November 14,
2003, its Form 8-Ks; and its other periodic filings.
Darvocet(TM) and Roxanol(TM) are trademarks, and Roxicodone(R) and
Oramorph(R) SR are registered trademarks, owned by aaiPharma Inc. Darvon(R)
is a registered trademark owned by aaiPharma LLC. Duraclon(R) is a registered
trademark of Fujisawa USA, Inc., licensed to aaiPharma Inc.
SOURCE aaiPharma Inc.
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Related links:
http://www.aaipharma.com
CONTACT:
Media, Andrea L. Johnston, Vice President,
Corporate Communications, +1-910-254-7340, or Investors, James B.
Sloan, Jr., Senior Vice President, Corporate Finance,
+1-910-254-7690, both of aaiPharma Inc.
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