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| 3-Dimensional Pharmaceuticals Announces Expiration of Hart-Scott-Rodino Waiting Period in Acquisition by Johnson & Johnson |
YARDLEY, Pa., March 11 /PRNewswire-FirstCall/ -- 3-Dimensional Pharmaceuticals, Inc. (3DP), (Nasdaq: DDDP) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired with respect to the proposed acquisition of 3DP by Johnson & Johnson. The proposed transaction is expected to close as promptly as possible after 3DP's special meeting of stockholders, which is scheduled to be held on March 27, 2003, subject to closing conditions. 3DP (http://www.3dp.com) is an integrated bio-pharmaceuticals company dedicated to revolutionizing small molecule drug discovery and development. 3DP's proprietary platform, DiscoverWorks(R), has the potential to produce drug candidates suitable for faster development, with fewer resources and a higher probability of success than using conventional drug discovery methods. 3DP is developing its own drug pipeline and collaborates with other pharmaceutical companies in discovery and development. Statements in this press release that are not historical are "forward- looking" statements that involve a high degree of risk and uncertainty. Such statements are only predictions, and the actual events or results may differ materially from those projected in such forward-looking statements. Factors that cause or contribute to differences include, but are not limited to, risks associated with the satisfaction of closing conditions to the completion of the acquisition by Johnson & Johnson, 3DP's new and uncertain technologies, clinical trials and product development, the long and arduous process of obtaining regulatory approval for 3DP's drug candidates, 3DP's dependence on existing strategic alliances and new collaborations, 3DP's dependence on patents and proprietary rights, the development and availability of competitive products or technologies, 3DP's ability to attract and retain talented employees, 3DP's cash burn and 3DP's ability to manage its efforts as a company increasingly focused on internal product research and development. Most of these risks and uncertainties are discussed in the section of 3DP's Annual Report on Form 10-K filed with the Securities and Exchange Commission entitled "Factors Affecting the Company's Prospects."SOURCE 3-Dimensional Pharmaceuticals, Inc.
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CONTACT:
Corporate Contact: Scott Horvitz, Chief
Financial Officer, 3-Dimensional Pharmaceuticals, +1-267-757-7208
or horvitz@3dp.com; or Investor and Media Inquiries: Melody
Carey, Rx Communications, +1-917-322-2571 or mcarey@rxir.com, for
3-Dimensional Pharmaceuticals
