WFHC news:
(PR NEWSWIRE) Women First HealthCare, Inc. Revises Its Agreements With Ortho-
Women First HealthCare, Inc. Revises Its Agreements With Ortho-McNeil
Pharmaceutical, Inc.
SAN DIEGO, Oct. 17 /PRNewswire/ -- Women First HealthCare, Inc.
(Nasdaq: WFHC) announced that effective September 30, 2000 it has revised its
contractual agreements with Ortho-McNeil Pharmaceutical, Inc. Women First
expects the revised agreement to result in increased liquidity, short-term
revenue gain and expense reduction during 2000. In addition, Women First
expects the revised agreement to provide significant long-term margin
improvement beginning in 2001.
Under terms of the revised agreement, Women First will permanently acquire
all rights to the ANDA for ORTHO-EST(R) and is no longer obligated to make
required aggregate payments of $28 million to Ortho-McNeil over the next seven
years. In addition, Women First will license the trademark for ORTHO-EST(R)
through June 2008, during which time it will seek to register a new mark for
the product.
As part of the revised agreement, the three-year ORTHO-PREFEST(R) contract
has been shortened and will expire on December 31, 2000. Women First will
continue to generate revenue from the ORTHO-PREFEST(R) contract through year-
end 2000.
In addition, the revised agreement provides for a three-month contract for
the new Trialogue(TM) division of Women First. Under terms of the agreement,
Trialogue will fund a medical education program, Lifetime Hormonal
Management-Patient Acceptance of HRT, and will contract with an outside vendor
for program management and development.
"These changes represent short-term and long-term advantages to the
Company," said Charles M. Caporale, Vice President and Chief Financial Officer
of Women First. "The cash elements of the revised agreement provide
substantial improvement in our liquidity and will positively impact our third
quarter results. Our ownership of ORTHO-EST(R) will bring profit margin
improvements beginning in 2001. Importantly, our sales force now has two
effective estrogen options for midlife women -- an oral form with ORTHO-EST(R)
and a patch with esclim(R)."
About Women First HealthCare, Inc.
Founded in 1996, Women First HealthCare, Inc. is a San Diego-based company
dedicated to improving the health and well being of women transitioning from
perimenopause through postmenopause and to supporting the OB/GYNs, Nurse
Practitioners, and other health professionals who manage their care. The
Company, which has established solutions for midlife women and their
clinicians, is structured into three operating divisions. Pharmaceutical is
responsible for the marketing of prescription products, which currently
include hormone replenishment -- both oral and patch -- and cholesterol-
lowering prescription products, and Daily Difference(TM) dietary supplements
developed in consultation with Tufts University School of Nutrition Science
and Policy. Consumer is responsible for the Company's self-care line of
products available through its www.womenfirst.com Marketplace, As We Change(R)
national mail order catalog, and Internet retailer, www.aswechange.com.
Trialogue(TM), the Corporate Marketing Division, is responsible for providing
access to Women First's network of opinion leaders and clinicians through
strategic marketing programs for sale to major pharmaceutical companies.
Integrated access includes the Company's comprehensive online health portal,
www.womenfirst.com/gateway (Professional Gateway for Health Professionals);
database communications; and continuing medical education programs.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This press release may contain certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to various risks, and Women First
HealthCare, Inc. cautions you that any forward-looking information is not a
guarantee of future performance. Women First HealthCare, Inc. disclaims any
intent or obligation to update these forward-looking statements. Actual
results could differ materially due to a number of factors, including (i)
changes in our contractual relationships with Ortho-McNeil Pharmaceutical and
Bristol-Myers Squibb, (ii) our ability to obtain additional financing for our
future capital needs, and (iii) additional factors set forth in the Company's
Securities and Exchange Commission filings including its Annual Report on Form
10-K for the period ended December 31, 1999 and its Quarterly Report on Form
10-Q for the six-month period ended June 30, 2000
News releases from Women First HealthCare, Inc. are available at no charge
on Women First's Web site at www.womenfirst.com and through PR Newswire's On-
Call fax service by calling (800) 758-5804, extension 129665.
For more information, please contact: Charles M. Caporale, Vice
President/CFO of Women First HealthCare, Inc., 858-509-3806,
ccaporale@womenfirst.com.
SOURCE Women First HealthCare, Inc.
-0- 10/17/2000
/CONTACT: Charles M. Caporale, Vice President/CFO of Women First
HealthCare, Inc., 858-509-3806, ccaporale@womenfirst.com/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 129665/
/Web site: aswechange.com
/Web site: womenfirst.com
/Web site: womenfirst.com
(WFHC)
CO: Women First HealthCare, Inc.; Ortho-McNeil Pharmaceutical, Inc.
ST: California
IN: HEA
SU:
*** end of story *** |
