QMed (QMED) Receives Delisting Notification

April 18, 2008 1:57 PM EDT

QMed, Inc., (Nasdaq: QMED) has received a NASDAQ staff determination letter dated April 14, 2008, notifying the Company that it has not complied with NASDAQ Marketplace Rule 4350 due to its failure to comply with the shareholder approval requirements in connection with a recent financing transaction. The letter stated that the terms of the transaction and completing the financing in violation of shareholder approval rules raises public interest concerns under Marketplace Rule 4300 and IM-4300 and serves as an additional basis for delisting. In addition, the letter indicated that the Company does not comply with the independent director and audit committee composition requirements, as set forth in Marketplace Rules 4350(c) (1) and 4350(d) (2), due to the recent resignation of a director, and is not eligible for a cure period to regain compliance, which serves as an additional basis for delisting.

A hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision, if received by April 21, 2008 prior to 4:00 pm. If the Company does not appeal Staff's determination to the Panel, the Company's securities will not be immediately eligible to trade on the OTC Bulletin Board or in the "Pink Sheets."[SM]

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