Business Wire - August 23, 1999
Commenting on the oxandrolone patents, Sim Fass, Chairman and Chief Executive Officer of BTG, stated: "This is a small part of our strategy to protect and strengthen the market position of Oxandrin. While we are gratified that prescriptions for Oxandrin continue to grow, we are convinced that there is significant as yet unrealized commercial potential for the product. We will do all that we can to reinforce our presence in the marketplace and maximize the value of Oxandrin for BTG."
BTG has been marketing Oxandrin(R) (oxandrolone, USP) in the United States since 1995. Oxandrolone is indicated for the treatment of involuntary weight loss associated with chronic infection, severe trauma, burns and unknown pathophysiology. A recent article published in the April 14, 1999 issue of JAMA, by Marc K. Hellerstein, M.D., Ph.D., et al, entitled "Resistance Exercise and Supraphysiologic Androgen Therapy in Eugonadal Men With HIV-Related Weight Loss" established that, in HIV-infected men with weight loss, a program of resistance exercise and Oxandrin resulted in significantly greater increases in lean tissue and muscle strength than resistance exercise and testosterone therapy. It also confirmed that this benefit was not affected by the use of protease inhibitor therapy.
Bio-Technology General Corp., a leading biopharmaceutical company, develops, manufactures and markets genetically engineered and other products for human health care. BTG's products are marketed in 30 countries worldwide. Products sold in the United States are Oxandrin(R) (oxandrolone, USP), and Delatestryl(R) (testosterone enanthate), marketed directly by BTG, Mircette(TM) (oral contraceptive), marketed by Organon, Inc. and BioLon(TM) (hyaluronic acid), marketed by BTG's licensee, Akorn, Inc. Products sold internationally are Bio-Tropin(TM) (human growth hormone) and BioLon(TM) (hyaluronic acid). BTG's revenues and diluted earnings per share for 1998 were $76.9 million, and $0.36, respectively.
Statements in this news release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission.
--30--mr/ny* csm
CONTACT: Wolfe Axelrod Associates Investor Relations: Don Weinberger 212/370-4500 or Bio-technology General Corp. Leah Berkovits 732/632-8800
990823
BW990806
Copyright © 1999 - Business Wire. All rights reserved. Reproduced with permission. Reproduction of this article (other than one copy for personal reference) must be cleared through the Business Wire, Permissions Desk, Business Wire, 1185 Avenue of the Americas, 3rd Floor, New York, NY 10036; Tel: (212) 575-8822; FAX: (212) 575-1854. http://www.businesswire.com.
AEGiS is a 501(c)3, not-for-profit, tax-exempt, educational corporation. AEGiS is made possible through unrestricted funding from Broadway Cares/Equity Fights AIDS, Elton John AIDS Foundation, the National Library of Medicine, Pacific Life Foundation and donations from users like you.
Always watch for outdated information. This article first appeared in 1999. This material is designed to support, not replace, the relationship that exists between you and your doctor.
AEGiS presents published material, reprinted with permission and neither endorses nor opposes any material. All information contained on this website, including information relating to health conditions, products, and treatments, is for informational purposes only. It is often presented in summary or aggregate form. It is not meant to be a substitute for the advice provided by your own physician or other medical professionals. Always discuss treatment options with a doctor who specializes in treating HIV.
Copyright ©1980, 1999. AEGiS. All materials appearing on AEGiS are protected by copyright as a collective work or compilation under U.S. copyright and other laws and are the property of AEGiS, or the party credited as the provider of the content. .