Press Releases

Research and Markets: This Essential Report on the Pharmaceutical Market in Switzerland is Now Available Dec 3, 2009 06:18AM

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/68f5af/the_pharmaceutical) has announced the addition of the "The Pharmaceutical Market: Switzerland" report to their offering.

This in-depth pharmaceutical market report is ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.

Executive Summary

Switzerland is one of Western Europe's smaller countries, but is arguably the world's richest healthcare market. Spending per capita is the highest in Europe, at US$6,569 in 2009. The country has a comprehensive mixture of private and public health provision, funded principally through social insurance. The pharmaceutical market is equally wealthy, amounting to US$7.0 billion, or US$898 per capita.

The Swiss government has been as keen as any other in recent years to contain costs in the healthcare sector. In a country where regions traditionally have a high degree of autonomy, central oversight of health has been increased. A number of specific measures have been taken to rein in costs, and the promotion of generics has been at the forefront, with spectacular success since 2001. The generic market grew very rapidly between 2002 and 2006.

The Swiss pharmaceutical industry is highly advanced and has long has an international reputation for the quality of its production and research. Two companies dominate the sector; Novartis and Roche. They are both prominent in the domestic market, although the majority of their sales are earned outside Switzerland. Swiss exports of pharmaceutical products exceeded US$35 billion in 2007.

Switzerland is not a member of the European Union, but has aligned much of its regulatory system with EU directives. Intellectual property provision is also in line with WTO norms.

Key Topics Covered:

EXECUTIVE SUMMARY

Introduction

Pharmaceutical Market Analysis

    --  Size
    --  Market Structure
    --  Reimbursed Drug Market
    --  Generics Sector
    --  OKP Generic Market Data, 2006
    --  Generic Outlook
    --  OTC Sector
    --  Projections & Outlook
    --  Imports
    --  Parallel Imports
    --  Domestic Manufacturing
    --  Domestic Production
    --  Trade Association(s)
    --  Interpharma
    --  VIPS
    --  Research-Based Manufacturers
    --  Actelion
    --  Boehringer-Ingelheim (Schweiz) GmbH
    --  Cilag AG
    --  Dr. Grossmann AG Pharmaca
    --  Novartis
    --  Roche
    --  Siegfried CMS AG
    --  Tillotts Pharma AG
    --  Trichema AG
    --  Vifor
    --  Generic Manufacturers
    --  Acino Pharma (formerly Cimex)
    --  Helvepharm
    --  Sandoz Pharmaceuticals
    --  Spirig
    --  Streuli Pharma
    --  Exports
    --  Research & Development

Pharmaceutical Regulatory Analysis

    --  Pharmaceutical Regulation
    --  Fast track Registration
    --  Registered Drugs
    --  Post-marketing Surveillance
    --  Good Manufacturing Practice (GMP) Regulations
    --  ADR Reports
    --  Pricing & Reimbursement
    --  Generic pricing
    --  Intellectual Property

Pharmaceutical Distribution

    --  Wholesaling
    --  Amedis-UE AG
    --  Galenica Holding
    --  Voigt AG
    --  Retailing

Healthcare Analysis

    --  Demographics
    --  Population
    --  Birth Rate
    --  Death Rate
    --  Infant Mortality
    --  Life Expectancy at Birth
    --  Public Health
    --  Causes of Death
    --  Incidence of Communicable Diseases
    --  HIV/AIDS
    --  Healthcare System
    --  Health Expenditure
    --  Healthcare Infrastructure
    --  Inpatient Analysis
    --  Healthcare Personnel

DIRECTORY

Companies Mentioned:

    --  Actelion
    --  Boehringer-Ingelheim (Schweiz) GmbH
    --  Cilag AG
    --  Dr. Grossmann AG Pharmaca
    --  Novartis
    --  Roche
    --  Siegfried CMS AG
    --  Tillotts Pharma AG
    --  Trichema AG
    --  Vifor
    --  Acino Pharma (formerly Cimex)
    --  Helvepharm
    --  Sandoz Pharmaceuticals
    --  Spirig
    --  Streuli Pharma
    --  Amedis-UE AG
    --  Galenica Holding
    --  Voigt AG

For more information visit http://www.researchandmarkets.com/research/68f5af/the_pharmaceutical

Source: Espicom Business Intelligence Ltd

    Source: Research and Markets

Comcast Increases Dividend 40%; Intends to Complete Current $3.6 Billion Stock Repurchase Plan Within 36 Months Dec 3, 2009 06:18AM

PHILADELPHIA--(BUSINESS WIRE)-- Comcast Corporation (Nasdaq: CMCSA, CMCSK), a leading cable, entertainment and communications company, announced today that the Company's planned annual dividend has increased 40% to $0.378 per share. In accordance with the increase, the Board of Directors has increased the quarterly dividend payable on January 27, 2010 to shareholders of record as of the close of business on January 6, 2010 from $0.0675 a share on the Company's common stock to $0.0945 a share. Additionally, Comcast announced its intent to complete its $3.6 billion share repurchase authorization over the next 36 months.

"Today's announcement reflects our confidence in the strength of our business, our financial position and our capacity for continued significant free cash flow generation," said Brian L. Roberts, Chairman and Chief Executive Officer. "The dividend increase, our second in the last year, combined with our intention to repurchase an additional $3.6 billion of our stock over the next 36 months, further reinforces our commitment to enhancing long-term shareholder value."

To automatically receive Comcast financial news by e-mail, please visit www.cmcsa.com or www.cmcsk.com and subscribe to E-mail Alerts.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.comcast.com) is one of the nation's leading providers of entertainment, information and communication products and services. With 23.8 million cable customers, 15.7 million high-speed Internet customers, and 7.4 million Comcast Digital Voice customers, Comcast is principally involved in the development, management and operation of cable systems and in the delivery of programming content.

Comcast's content networks and investments include E! Entertainment Television, Style Network, Golf Channel, VERSUS, G4, PBS KIDS Sprout, TV One, ten sports networks operated by Comcast Sports Group and Comcast Interactive Media, which develops and operates Comcast's Internet businesses, including Comcast.net (www.comcast.net). Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.

    Source: Comcast Corporation

Comcast and GE to Create Leading Entertainment Company Dec 3, 2009 06:16AM

Positions Comcast and NBCU to Lead the Next Phase of Media Industry's Evolution

Builds on Diverse Cable Portfolio, Accelerates Digital Offerings and Expands Customer Choice

Entity Will Deliver Strong Cash Flow With Conservative Capital Structure

NBCU Businesses Valued at $30 Billion, Comcast to Contribute Businesses Valued at $7.25 Billion

Comcast To Own 51%, GE 49% Interest in NBCU

Jeff Zucker to Lead New York-based Venture

PHILADELPHIA & FAIRFIELD, Conn.--(BUSINESS WIRE)-- Comcast (NASDAQ: CMCSA, CMCSK) and General Electric (NYSE: GE) announced today that they have signed a definitive agreement to form a joint venture that will be 51 percent owned by Comcast, 49 percent owned by GE and managed by Comcast. The joint venture, which will consist of the NBC Universal (NBCU) businesses and Comcast's cable networks, regional sports networks and certain digital properties and certain unconsolidated investments, will be well positioned to compete in an increasingly dynamic and competitive media and digital environment.

The combination of assets creates a leading media and entertainment company with the proven capability to provide some of the world's most popular entertainment, news and sports content, movies and film libraries to consumers anytime, anywhere. The joint venture will provide consumers the broadest possible access to content, and support high-quality, award-winning content development across all platforms including film, television, and online. It will be anchored by an outstanding portfolio of cable networks and regional sports networks that will account for about 80 percent of its cash flow, including USA, Bravo, Syfy, E!, Versus, CNBC and MSNBC. The joint venture will be financially strong with a robust cash-flow-generation capability.

Under the terms of the transaction, GE will contribute to the joint venture NBCU's businesses valued at $30 billion, including its cable networks, filmed entertainment, televised entertainment, theme parks, and unconsolidated investments, subject to $9.1 billion in debt to third party lenders. Comcast will contribute its cable networks including E!, Versus and the Golf Channel, its ten regional sports networks, and certain digital media properties, collectively valued at $7.25 billion, and make a payment to GE of approximately $6.5 billion of cash subject to certain adjustments based on various events between signing and closing.

Comcast Chairman and Chief Executive Officer Brian Roberts said, "This deal is a perfect fit for Comcast and will allow us to become a leader in the development and distribution of multiplatform 'anytime, anywhere' media that American consumers are demanding. In particular, NBCU's fast-growing, highly profitable cable networks are a great complement to our industry-leading distribution business. Today's announced transaction will increase our capabilities in content and cable networks. At the same time, it will enhance consumer choice and accelerate the development of new digital products and services. GE has provided NBCU with a great home and has dramatically and positively transformed the business. We are honored that under this agreement Comcast would take over the stewardship of this important collection of assets and are absolutely committed to investing in NBCU and ensuring that it is a vibrant, financially strong company able to thrive in a rapidly evolving marketplace by delivering innovative programming. We are particularly pleased to be creating this new joint venture with GE and Jeff Immelt and to have their continued involvement.

"For Comcast, this transaction is strategically compelling and will generate attractive financial returns and build shareholder value," continued Roberts. "It is also expected to be immediately accretive and will also allow us to maintain our strong commitment to returning capital to shareholders- all while increasing the scale, capabilities and value of our cable distribution, content and digital assets. Significantly, it is entirely consistent with our intense focus on value creation and our disciplined strategy of pursuing profitable growth in areas complementary to our distribution business."

GE Chairman and CEO Jeff Immelt said, "The combination of Comcast's cable and regional sports networks and digital media properties and NBCU will deliver strong returns for GE shareholders and business partners. NBCU has been a great business for GE over the past two decades. We have generated an average annual return of 11 percent, while expanding into cable, movies, parks and international media. We are reducing our ownership stake from 80 percent to 49 percent of a more valuable entity. By doing so, GE gets a good value for NBCU. This transaction will generate approximately $8 billion of cash at closing with an expected small after-tax gain. We have many opportunities to invest in our high-technology infrastructure businesses at attractive returns. I believe that the new NBCU will deliver value for both Comcast and GE in the future. We will give consumers and advertisers more choice and our cable and digital assets will be second to none. I am confident Brian Roberts and his team at Comcast will be great partners."

Comcast also announced the creation of Comcast Entertainment Group (CEG), which will house Comcast's interest in the joint venture and will stand alongside Comcast Cable, which operates the company's traditional cable business.

Comcast Chief Operating Officer Steve Burke said, "Both Comcast and NBCU have excellent track records of integrating and growing multi-billion dollar businesses, including significant content acquisitions. In addition, we have both developed some of the country's most popular programming and built many of the most watched and valued networks in the industry. We are confident that we'll be even stronger together, and look forward to working with Jeff Zucker and the NBCU team to deliver the best consumer experience."

Jeff Zucker, current president and CEO of NBCU, will be CEO of the new joint venture and will report to Burke. Zucker said, "Combining the assets of NBCU, ranging from our suite of cable properties and two broadcast networks to a legendary film studio and global theme park business, with the content assets and resources of Comcast, will enable us to continue to thrive in an ever-changing media landscape. Consumers of all of our products - on screens large and small - will have the benefit of enhanced content and experiences, delivered to them in new and better ways as a result of this transaction. This marks the start of a new era for NBCU, and I'm genuinely excited that I will be leading this wonderful organization, along with the Comcast team, at this important time in our history."

Headquarters for the business will remain in New York. The joint venture board will have three directors nominated by Comcast and two nominated by GE.

Key Elements Of The Transaction:

    --  NBCU will borrow approximately $9.1 billion from third-party lenders and
        distribute the cash to GE.
    --  NBCU, valued at $30 billion, will be contributed to the newly formed
        joint venture. Comcast will contribute its programming businesses and
        certain other properties valued at $7.25 billion.
    --  GE will acquire Vivendi's 20% interest in NBCU for $5.8 billion. GE will
        purchase approximately 38% of Vivendi's interest (or approximately 7.66%
        of all outstanding NBCU shares) from Vivendi for $2 billion in September
        2010, if the Comcast transaction is not closed by then. GE will acquire
        the remaining 62% of Vivendi's interest (or approximately 12.34% of all
        outstanding NBCU shares) for $3.8 billion when the transaction closes.
    --  Comcast will make a payment to GE of approximately $6.5 billion in cash
        subject to certain adjustments based on various events between signing
        and closing.
    --  The new venture will be 51% owned by Comcast and 49% owned by GE.
    --  GE expects to realize $9.8 billion pre-tax in cash before debt reduction
        and transaction fees and after buyout of the Vivendi stake. GE expects
        to realize approximately $8 billion in cash after paying down the
        existing NBCU debt and transaction fees.
    --  GE will be entitled to elect to cause the joint venture to redeem
        one-half of its interest at year 3 1/2 and its remaining interest at
        year 7. The joint venture's obligations to complete those purchases will
        be subject to the venture's leverage ratio not exceeding 2.75X EBITDA
        and the venture continuing to hold investment-grade ratings. Comcast
        also has certain rights to purchase GE's interest in the venture at
        specified times. All such transactions would be done at a 20% premium to
        public market value with 50% sharing of upside above the closing
        valuation.
    --  To the extent the joint venture is not required to meet GE's redemption
        requests, Comcast will provide a backstop up to a maximum of $2.875
        billion for the first redemption and a total backstop of $5.750 billion.

The transaction has been approved by the Board of Directors of GE and Comcast. It is subject to receipt of various regulatory approvals, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and approvals of the Federal Communications Commission and certain international agencies. The transaction is also subject to other customary closing conditions. NBCU has obtained $9.85 billion of committed financing through a consortium of banks led by J.P. Morgan, Goldman Sachs, Morgan Stanley, BofA Merrill Lynch and Citi. This financing is expected to receive solid investment-grade ratings from S&P and Moody's.

Comcast and GE intend to submit regulatory applications supporting the pro-competitive and strong public interest benefits of the transaction, including how the joint venture will better meet the entertainment, communications and information needs of the American public.

"We are prepared to make affirmative commitments to ensure that the pro-consumer and public interest benefits of the transaction are realized," Roberts said. "Today, we have announced a number of initial commitments that expand on the capabilities that Comcast and NBCU have built over the years, and the new opportunities that this combination makes possible. These commitments address the needs of various audiences and stakeholders, and we will provide additional details on these and other commitments in our public interest filing with the Federal Communications Commission."

Advisors

Morgan Stanley is lead financial advisor to Comcast with UBS and BofA Merrill Lynch acting as co-advisors. Davis Polk & Wardwell LLP is Comcast's legal advisor. J.P. Morgan is lead financial advisor to GE with Goldman Sachs and Citi acting as co-advisors. Weil, Gotshal & Manges LLP is GE's and NBCU's legal advisor.

Teleconference and Webcast

Comcast will host a conference call with the financial community today, December 3, 2009, at 8:30 a.m. Eastern Time (ET) to discuss this morning's announcement with Comcast Chairman and CEO Brian L. Roberts, Comcast Chief Operating Officer Stephen B. Burke and Comcast Chief Financial Officer, Michael J. Angelakis. The conference call will be broadcast live via the Company's Investor Relations website at www.cmcsa.com or www.cmcsk.com. Those parties interested in participating via telephone should dial (800) 263- 8495 with the conference ID number 44380493. A telephone replay of the call will be available on the Investor Relations website starting at 12:30 p.m. Eastern Time on December 3, 2009 and will be available until December 8, 2009 at midnight Eastern Time. To access the rebroadcast, please dial (800) 642-1687 conference ID 44380493.

GE will also host a webcast with the financial community today, December 3, 2009, at 8:30 a.m. Eastern Time / 7:30 a.m. Central Time to discuss this morning's announcement with GE Chairman and CEO Jeff Immelt, GE Chief Financial Officer Keith Sherin and NBCU President and CEO Jeff Zucker. The webcast will be available at www.ge.com/investors. A replay will be available later in the day on the site.

Additional media materials are available at www.ge.com/newnbcu, www.comcast.com/nbcutransaction and https://www.nbcumv.com/mv/.

The description of this transaction included in this press release is qualified in its entirety by, and is subject to, the terms of the definitive documentation for the transaction to be filed by Comcast with the Securities and Exchange Commission on a Current Report on Form 8-K.

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.comcast.com) is one of the nation's leading providers of entertainment, information and communication products and services. With 23.8 million cable customers, 15.7 million high-speed Internet customers, and 7.4 million Comcast Digital Voice customers, Comcast is principally involved in the development, management and operation of cable systems and in the delivery of programming content.

Comcast's content networks and investments include E! Entertainment Television, Style Network, Golf Channel, VERSUS, G4, PBS KIDS Sprout, TV One, ten sports networks operated by Comcast Sports Group and Comcast Interactive Media, which develops and operates Comcast's Internet businesses, including Comcast.net (www.comcast.net). Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.

About NBC Universal:

NBC Universal is one of the world's leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80% owned by General Electric and 20% owned by Vivendi.

Combined Assets/Properties

The assets and properties owned or controlled by the new joint venture will include some of the best known brands in the entertainment industry, including:

    --  Several of television's most successful cable networks, including USA,
        Bravo, CNBC, MSNBC, Syfy, E!, Style, Versus and the Golf Channel;
    --  One of the nation's largest television groups, including:
        o The NBC Television Network;
        o Local broadcast TV stations in ten top U.S. markets including New
          York, Los Angeles, Chicago and Philadelphia;
        o The national Telemundo Network and 16 Telemundo O&O stations in
          locations such as Los Angeles, New York, Miami, Houston, Chicago and
          Dallas/Ft.Worth;
    --  Preeminent television production operations that produce Emmy Award
        winning programs like The Office, 30 Rock, Law & Order, Heroes, Saturday
        Night LiveandThe Tonight Show,as well as syndicate operations through
        NBC Universal Domestic and International Distribution and a 3,000-title
        library of television episodes;
    --  NBC News, the leading source of global news and information in the
        United States with top-rated programs such as Nightly News with Brian
        Williams, Todayand Meet the Press;
    --  A robust sports programming lineup featuring the Olympics (through
        2012), NBC Sunday Night Football, NHL/Stanley Cup, PGA Tour, US Open,
        Ryder Cup, Wimbledon and the Kentucky Derby, Versus, Golf Channel and
        Comcast's 10 regional sports networks;
    --  Universal Pictures, which has produced Academy Award winners Atonement,
        The Bourne Ultimatum, Brokeback Mountain, RayandA Beautiful Mind, Focus
        Features, which recently produced Away We Go,and an extensive movie
        library with more than 4,000 titles through Universal Studios Home
        Entertainment;
    --  Fast growing digital media properties including CNBC.com, iVillage,
        NBC.com, Fandango, and Daily Candy, which together generate more than 40
        million unique users each month;
    --  Ownership of theme parks in Florida (50% interest), California (100%
        interest) and a financial interest in a theme park in Japan;
    --  A minority interest in A&E, Biography, The History Channel, The Weather
        Channel, Lifetime and Hulu.com.

Caution Concerning Forward-Looking Statements

This document contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These statements are made on the basis of the views and assumptions of management. Particular uncertainties that could cause actual results to be materially different than those expressed in these forward-looking statements include: the timing of, or ability to obtain, necessary regulatory and governmental approvals on acceptable terms; the timing and completion of the financing of NBC Universal on contemplated terms before the closing of the proposed joint venture; the receipt of an investment grade rating from the rating agencies of the proposed joint venture between GE and Comcast; adverse developments in the business and operations of NBC Universal, including potential disruption that may make it more difficult to maintain business and operational relationships; and the successful combination, operation and overall performance of the joint venture post closing. For GE, an additional uncertainty includes its ability to redeploy its capital into high-growth technology businesses. For Comcast and NBC Universal, additional uncertainties include the ability to integrate the programming assets of Comcast and NBC Universal in the new joint venture; the ability of the new joint venture to create popular programming, to develop new digital products and services, and to succeed in the highly competitive media industry; the ability of the new joint venture to generate attractive financial returns and strong cash flows; and, the effect of any conditions that regulators may impose in permitting the transaction to proceed. These uncertainties may cause actual future results to be materially different than those expressed in these forward-looking statements. None of GE, Comcast nor NBC Universal undertake to update these forward-looking statements.

    Source: General Electric and Comcast

Research and Markets: Advertising via the Mobile Channel - Now Available Dec 3, 2009 06:11AM

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/f2f787/advertising_via_th) has announced the addition of the "Advertising via the Mobile Channel" report to their offering.

The current economic downturn creates both barriers and opportunities for the mobile advertising industry. Major brands and ad-agencies may be reluctant to commit their advertising budgets to experiment with a new channel. Consumers however, faced with economic pressures, may be more likely to shop around for affordable entertainment services and willing to accept relevant advertising messages in exchange for tangible benefits thus increasing the attractiveness of the mobile channel to advertisers. MNOs, faced with increasing competition and regulation eroding core voice revenues, need mobile advertising as a revenue stream, but must balance this need against the risk of losing trust and alienating consumers by using (and selling) the information they hold for promotional purposes and devaluing their customers' mobile experience by bombarding them with unsolicited advertising.

This report explores the different roles MNOs need to fulfil and the strategies leading operators have deployed to successfully exploit the potential for mobile advertising to generate new revenues without compromising relationships with the customer through examination of a series of advanced mobile advertising initiatives, including ad-banners and search services deployed across Vodafone live! portals in Australia and South Africa and the highly successful 'Tone & Win' opt-in service from Turkcell. A series of recommendations aimed at helping MNOs maximise the benefits of this new revenue opportunity conclude the report.

Key Topics Covered:

OVERVIEW

INTRODUCTION

    --  Background to the Report
    --  Report Content
    --  Exchange Rates

MOBILE ADVERTISING MARKET OVERVIEW

    --  Service Models
    --  Market Evolution
    --  MNOs' Multi-Faceted Role & Positioning

MOBILE BANNERS & SEARCH

    --  Vodacom's Mobile Media in South Africa
    --  Vodafone Advertising Division Australia

AD-FUNDED CONTENT & VAS

    --  Ad-funded Services by Vodacom South Africa

BUILDING VALUABLE OPT-IN DATABASES

    --  Mobile Advertising Innovation From Turkcell
    --  Orange's 'Promo Tonos' Service

CONCLUSIONS & RECOMMENDATIONS

For more information visit http://www.researchandmarkets.com/research/f2f787/advertising_via_th

    Source: Research and Markets

Pharmasurgics to Begin Phase II Clinical Trial for Prevention of Post-Surgical Adhesions Dec 3, 2009 06:09AM

GOTHENBURG, Sweden, December 3 /PRNewswire/ -- Pharmasurgics AB - part of the Karolinska Development dermatology and wound healing company "Pergamum" - today announced that Pharmasurgics has received approval from the Swedish Medical Products Agency to begin a Phase II clinical trial. The trial will begin in December 2009 and will monitor the safety and efficacy of PharmaSurgics' novel candidate drug for the prevention of post-surgical adhesions in patients undergoing hand surgery. Post-surgical adhesions are bands of scar tissue connecting anatomic sites in the body that should not normally be connected. These develop after almost every type of surgery and can cause severe symptoms. PXL01 is based on an endogenous human peptide with pronounced anti-inflammatory and antimicrobial effects. It is formulated in a gel that provides a burst of the active pharmaceutical ingredient directly after application combined with slow release during the healing period.

PharmaSurgics' Managing Director, Margit Mahlapuu, said, "Entering Phase II development is an important milestone for the company. It follows a strong preclinical program and good safety and tolerability results from the Phase I trial. Current treatment options for preventing post-surgical adhesions are all based on physical barriers and have failed to meet the efficacy levels demanded by surgeons. PXL01 has the potential to deliver improved efficacy and to become the first anti-adhesion product on the market based on pharmaceutical properties."

Jorgen Thorball, Pergamum's Chairman, commented, "PharmaSurgics has developed an extremely interesting and novel approach in a market with significant unmet medical needs. Success in the Phase II proof-of-concept study will enable the development of similar treatments for a very broad range of surgical procedures. Considering the substantial costs that post-surgical adhesions represent in today's healthcare systems there is tremendous market potential for new, more efficacious treatments."

The Phase II clinical trial will monitor the safety and document the efficacy of PXL01 in reducing adhesion formation following flexor tendon repair surgery. This indication allows for measurement of objective endpoints, rather than subjective measurements of pain. The objective of the efficacy part of the study is to see an improvement in finger strength and mobility compared to placebo following surgery. The prospective, randomized, double-blind and placebo-controlled trial will be conducted at three of Sweden's leading hand surgery clinics and will include approximately 140 patients.

Conny Bogentoft, CEO of Karolinska Development, said, "PharmaSurgics is making excellent progress. It also provides a good example of how Karolinska Development's business model is able to take a scientific concept from bench to clinical development extremely quickly and efficiently. Our overall portfolio, and particularly the Pergamum group, continues to go from strength to strength as more companies reach Phase II."

About PharmaSurgics

PharmaSurgics in Sweden AB is a biotech company that develops and commercializes novel treatments for the prevention of harmful scarring and promotion of wound healing after surgery. PharmaSurgics' product concept is based on proprietary synthetic peptides which have strong anti-inflammatory and anti-infectious properties. The company is located in Gothenburg, Sweden and was founded in 2005 based on extensive research by Dr. Inger Mattsby-Baltzer and Professor Kjell Olmarker at Sahlgrenska University Hospital, Gothenburg, Sweden. PharmaSurgics is part of the Pergamum group of companies.

http://www.pharmasurgics.se

About Pergamum

Pergamum AB is a new kind of biopharmaceutical company focusing solely on dermatology and wound healing markets. The company currently has four Operating Units, which it supports with strategic management, business development, drug development and operational assistance as required. Pergamum is a Karolinska Development AB company.

http://www.pergamum.com

About Karolinska Development

Karolinska Development manages one of the largest portfolios of life science companies in Europe. Using a unique, highly cost-efficient business model, the management team guides the commercialization of world-class life science innovations, helping to shape the next-generation pharma industry. Since 2003, Karolinska Development has built a portfolio of some 40 companies; among the company's projects 12 compounds are undergoing clinical trials. The portfolio also includes a total of 19 potential first-in-class products.

    http://www.karolinskadevelopment.com

    For further information, please contact:

    Margit Mahlapuu, CSO, Managing Director, PharmaSurgics in Sweden AB
    Phone: +46(0)31-762-29-02 / Mobile: +46(0)706-310-109
    E-mail: margit.mahlapuu@pharmasurgics.se

    Jorgen Thorball, Chairman, Pergamum AB
    Phone: +45(0)307-786-27
    E-mail: jorgen.thorball@pergamum.com

    Conny Bogentoft, CEO, Karolinska Development AB
    Phone: +46(0)70-668-61-43
    E-mail: conny.bogentoft@karolinskadevelopment.com

SOURCE PharmaSurgics AB