PRESS RELEASE:Teva Pharm To Mkt Bio-Tech Genl Hormone
Updated 5:03 AM ET March 30, 2000
( BW)(TEVA-PHARMACEUTICAL)(TEVA)(BTGC) Teva Pharmaceutical Industries Ltd. to Market
BTG's Human Growth Hormone In The United States
JERUSALEM, Israel--(BUSINESS WIRE)--March 30, 2000--Teva
Pharmaceutical Industries Ltd, (Nasdaq: TEVA) announced today that it will market exclusively in the U.S.
Bio-Technology General Corp.'s (Nasdaq: BTGC) recombinant human growth hormone (hGH).
Human growth hormone represents the first product to come out of the strategic alliance, which Teva entered
into with Bio-Technology General in September 1999. Teva plans to launch hGH in the United States in
2000. However, the launch date could potentially be delayed pending the outcome of appellate litigation
between Bio- Technology General and Genentech.
Teva's President and Chief Executive Officer, Mr. Eli Hurvitz, commented, "We are pleased that the first
product from our strategic alliance has been revealed. Marketing hGH will be the first step in broadening our
activities in the continuously developing biotechnology area."
1999 human growth hormone sales in the U.S. were estimated to be $350 million.
Teva Pharmaceutical Industries Ltd., is Israel's largest pharmaceutical company, with more than 80% of its
sales outside Israel, mainly in the United States and Europe. The Company develops, manufactures and
markets generic and branded human pharmaceuticals, active pharmaceutical ingredients, medical disposables
and veterinary products.
Bio-Technology General Corp., a leading biopharmaceutical company, develops, manufactures and markets
genetically engineered and other products for human health care. The Company's products are marketed in
over thirty countries worldwide. Safe Harbor Statement: This release contains forward looking statements
which express the beliefs and expectations of management. Such statements are based on current
expectations and involve a number of known and unknown risks and uncertainties that could cause the
Company's future results, performance or achievements to differ significantly from the results, performance
or achievement expressed or implied by such forward-looking statements. Important factors that could cause
or contribute to such differences include the impact of pharmaceutical industry regulation, the difficulty of
predicting FDA and other regulatory authority approvals, the regulatory environment and changes in the
health policies of various countries, acceptance and demand for new pharmaceutical products and new
therapies, the impact of competitive products and pricing, the availability and pricing of ingredients used in
the manufacture of pharmaceutical products, uncertainties regarding market acceptance of innovative
products newly launched, currently being sold or in development, the impact of restructuring of clients,
reliance on strategic alliances, fluctuations in currency, exchange and interest rates, operating results and
other factors that are discussed in the Company's filings with the U.S. Securities and Exchange
Commission.
--30--ss/ny* CONTACT: Teva Pharmaceutical Industries Ltd., Jerusalem
Dan Suesskind, Chief Financial Officer
(011) 972-2-589-2840
or
Investor Relations Contacts:
Morgen-Walke Associates, Inc., New York
Donna N. Stein/Sonya Park/Jill Meleski
(212) 850-5600 |
