NPRO Napro Biotherapeutics (MM)

December 1 Trial Date Set in NaPro vs Mylan Patent Infringement Case BOULDER, Colo., Nov. 12 /PRNewswire-FirstCall/ -- NaPro BioTherapeutics, Inc. announced today that the Federal District Court in the Western District of Pennsylvania has set December 1, 2003 as the trial date for NaPro's patent infringement lawsuit against Mylan Laboratories Inc. As previously announced, in October 2003, the Court declared that Mylan Laboratories infringes certain of NaPro's patents related to stabilized formulations of paclitaxel and methods for making such stable formulations. The Court also stated that the inventors listed on the NaPro patents were the first to invent the compositions and methods claimed in such patents. The Court also adopted NaPro's interpretations of the patent claims asserted against Mylan in this case. The remaining issues at trial will be focused on Mylan's claims that NaPro's patents are invalid and unenforceable. NaPro expects that the case will proceed to a damages phase in 2004 or 2005 if NaPro is successful at the December trial. In August 2003, NaPro announced that it had signed a definitive agreement, subject to the approval of NaPro's stockholders, to sell its worldwide generic injectable paclitaxel business to Faulding Pharmaceutical Co., a subsidiary of Mayne Group Limited, for $71.7 million in cash minus an inventory adjustment to reflect our actual inventory as of the closing. The transaction with Faulding also provides that NaPro will be entitled to a portion of any cash payment received by Faulding with respect to the Mylan litigation subsequent to the sale of the paclitaxel business. "Though matters of litigation are always uncertain, the Court's finding three weeks ago in NaPro's favor speaks to the strength of our case against Mylan," stated Leonard Shaykin, Chairman and Chief Executive Officer of NaPro. "We look forward to the opportunity to present our case at trial." About NaPro BioTherapeutics NaPro BioTherapeutics, Inc. is a life science company focused on the development of targeted therapies for the treatment of cancer and hereditary disease. Forward Looking Statements The statements in this news release that are not historical facts are forward-looking statements that represent management's beliefs and assumptions as of the date of this news release, based on currently available information. Forward-looking statements can be identified by the use of words such as "believes," "intends," "estimates," "may," "will," "should," "anticipated," "expected" or comparable terminology or by discussions of strategy. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot assure that these expectations will prove to be correct. Such statements involve risks and uncertainties including: risks associated with development of the genomics, gene editing and targeted businesses, including competition from companies in similar businesses, limitations on the ability to market products because of the intellectual property rights of third parties, the ability to obtain, maintain and enforce patents; the risk that the transaction announced with Faulding Pharmaceutical Co. may not close because it is not approved by stockholders or otherwise or may be materially delayed; the costs of continuing development of any or all of the Company's development programs; the timing of when those programs will enter the clinic; the successful commercialization of the Company's platform technologies; the fact that the Company's business will require substantial additional investment that the Company has not secured; and the risk that the cash proceeds from the Faulding transaction, if realized, will not be sufficient to fund the Company's strategic plans for the initial development new proprietary therapeutic candidates; and all of those factors identified under the captions "Risk Factors," "Special Note Regarding Forward Looking Statements" or "Cautionary Note Regarding Forward Looking Statements" in the Company's documents filed from time to time with the SEC, including the Company's registration statement on Form S-3, as amended, dated August 8, 2003, its Annual Report on Forms 10-K and 10-K/A for the year ending December 31, 2002 filed with the SEC on March 27, April 30, August 8 and October 24, 2003, and its Quarterly Report on Form 10-Q for the quarter ended July 2, 2003 filed with the Securities and Exchange Commission on August 8, 2003. Should one or more of these risks materialize (or the consequences of such a development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those forecasted or expected. The Company disclaims any intention or obligation to update publicly or revise such statements whether as a result of new information, future events or otherwise. Additional Information In connection with the proposed sale of assets to Faulding, NaPro has filed a definitive proxy statement with the Securities and Exchange Commission (SEC). Investors and security holders are urged to read the definitive proxy statement as it contains important information about NaPro, the proposed transaction and related matters. Investors and security holders have access to free copies of the definitive proxy statement and other documents filed with the SEC by NaPro through the SEC website at http://www.sec.gov/. The definitive proxy statement and related materials may also be obtained for free from NaPro by calling the company contact listed below. NaPro and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of NaPro's stockholders in connection with the proposed transaction is set forth in NaPro's proxy statement for its 2003 annual meeting of stockholders, dated May 23, 2003 and filed with the SEC on May 27, 2003. Additional information is set forth in the definitive proxy statement on file with the SEC related to the proposed sale of assets. For further information, please contact L. Robert Cohen, Vice President, Investor Relations of NaPro BioTherapeutics, Inc., +1-212-218-8715; or Investors, Lilian Stern of Stern Investor Relations, +1-212-362-1200; or Media, Peter Steinerman, +1-516-374-3031, both for NaPro BioTherapeutics, Inc. DATASOURCE: NaPro BioTherapeutics, Inc. CONTACT: L. Robert Cohen, Vice President, Investor Relations of NaPro BioTherapeutics, Inc., +1-212-218-8715; or Investors, Lilian Stern of Stern Investor Relations, +1-212-362-1200; or Media, Peter Steinerman, +1-516-374-3031, both for NaPro BioTherapeutics, Inc. Web site: http://www.naprobio.com/

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