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Biotech / Medical : DYGN - Dynagen -- Ignore unavailable to you. Want to Upgrade?

To: Bob Walters who wrote (357)	7/27/1998 7:53:00 AM
From: Mightycujo	Read Replies (1) \| Respond to of 444

*TO ALL Some news...... Monday July 27, 6:59 am Eastern Time Company Press Release DynaGen Inc. Enters Discussions Regarding Licensing Opportunities with MOVA Laboratories CAMBRIDGE, Mass.--(BW HealthWire)--July 27, 1998--DynaGen Inc. (NASDAQ:DYGN - news; BSE:DYG) today announced that the company has entered into discussions with MOVA Laboratories, a wholly-owned subsidiary of MOVA Pharmaceutical Corp., regarding licensing and distribution opportunities for DynaGen's generic drugs, specialty pharmaceuticals and diagnostic products. MOVA is a large, privately-held company that develops, manufactures and distributes numerous prescription and over-the-counter (OTC) medications. Since its establishment in 1986, MOVA has specialized in providing manufacturing services for the world's leading pharmaceutical companies. Some of the world's most prescribed branded pharmaceuticals are outsourced from MOVA. As a result of MOVA's history of reliability and high quality manufacturing standards, leading pharmaceutical developers consistently turn to MOVA to fulfill their manufacturing needs. In addition to providing manufacturing services, MOVA also develops and markets multi-source products for use in the areas of cardiovascular disease, endocrinology, gastroenterology, anti-inflammatory conditions, diabetes, anti-infective agents and central nervous system disorders. The company has over 750 employees and conducts product development and manufacturing in a 250,000 square foot state-of-the-art facility located in Puerto Rico. Since 1992, MOVA has operated a sales and marketing division in Princeton, N.J. with accounts across the United States. The company distributes products from facilities in Memphis, Tenn. DynaGen Inc. is a health care company involved in the research, development, manufacture and distribution of brand and generic therapeutic products. DynaGen's subsidiary, Able Laboratories Inc., develops and manufactures the company's generic products in its FDA registered 46,000 square foot facility located in South Plainfield, N.J. The company markets and distributes products to independent retail chain and institutional pharmacies through its wholly-owned marketing subsidiaries, Superior Pharmaceutical Company and Generic Distributors Inc. The company maintains operations in Massachusetts, New Jersey, Ohio and Louisiana. With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties, including but not limited to, statements relating to financial results, consumer interest and market share that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially. These risk factors include, but are not limited to, the company's dependence on a limited number of products and on the successful development and introduction of second-generation products that will generate improved gross margins, product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, governmental regulations, technological difficulties and/or other factors outside the control of the company, which are detailed from time to time in the company's SEC reports, including the report on Form 10-K for the year ended December 31, 1997. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contact: DygaGen Inc. C. Robert Cusick, 617/491-2527