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Protherics and Savage Labs Announce Potential Shortage Snakebite Antivenom
Melville, NY – March 27, 2002 – Protherics Inc. (London Stock Exchange, PTI.L) and Savage Laboratories“, the pharmaceutical division of Altana Inc., announced today the potential shortage of the snakebite antivenom, CroFabTM; (Crotalidae Polyvalent Immune Fab -- Ovine) for the 2002 snakebite season. CroFabTM; is marketed in the United States by Savage Labs and is indicated for the management of patients with minimal or moderate North American crotalid envenomation. The term crotalid describes the Crotalidae family of venomous snakes which includes rattlesnakes, copperheads and cottonmouths/water moccasins. CroFabTM; was developed and is manufactured by Protherics Inc. The companies have notified wholesalers, hospitals and poison centers of the potential shortage. CroFabTM; is one of two crotalid antivenoms available in the United States; Antivenin Crotalidae Polyvalent is produced and marketed by Wyeth-Ayerst Laboratories, Inc.
The potential shortage of CroFabTM; during the upcoming snakebite season is the result of a short-term problem with the production process. During February and March 2002, the outsourced process for the filling and freeze drying of CroFabTM; was found to be out of specification, which will result in at least a two-month delay in the release of CroFabTM; to the market. The outsourced supplier has identified the problem, implemented corrective action and expects the filling and freeze-drying process to resume shortly. Protherics hopes to have CroFabTM; available for release to the market in early June. The process, however, may take longer. It is possible that there will be no CroFabTM; available in the United States this snakebite season.
Nearly all venomous snakebites are preventable. To avoid envenomation, snakebite experts recommend the following precautions:
- Hikers should wear sturdy boots or shoes that extend beyond the ankle when in snake territory.
- When a snake is encountered, it should be left alone. One should not approach a venomous snake, whether to catch it or to kill it. Half of all U.S. bites occur when a person knowingly puts himself in the way of the snake.
- When in snake territory, people should not put their hands behind rocks, under fallen branches or in any hidden openings where snakes may be lurking.
- To remove a venomous snake from one’s home or yard, the local Animal Control, Fire Department or Health Department should be called for assistance.
Savage Laboratories will notify hospitals, wholesalers and poison centers with any updates on the status of product availability. Any individuals bitten by a snake should immediately contact or go directly to the nearest poison center or hospital emergency room. A complete list of local poison centers is available through the American Association of Poison Control Centers (800/222-1222, www.aapcc.org).
About Savage Labs
Savage Laboratories® is a division of Altana, Inc., the U.S. subsidiary of Byk-Gulden, a multi-national pharmaceutical company based in Konstanz, Germany. Currently the strategic focus of Savage Laboratories is emergency/critical care and women’s health care. More information is available at www.savagelabs.com.
About Protherics
Protherics is an international biopharmaceutical company, whose platform technology is the development and production of immunotherapeutics. Protherics' product portfolio includes two products that have received US Food and Drug Administration (FDA) approval - CroFabTM;, a rattlesnake antivenom, and DigiFab™ (Digoxin Immune Fab (Ovine)), a treatment for digoxin toxicity. The Company's ordinary shares are listed on the Official List of the UK Listing Authority and are traded on the London Stock Exchange. (PTI.L)
Forward Looking Statements
This release, and oral statements made from time to time by Company representatives concerning the subject matter hereof, may contain so-called "forward looking statements". These statements can be identified by introductory words such as "expects", "plans", "will", "estimates", "forecasts", "projects", words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are discussing the Company's growth strategy, operating and financial goals, plans relating to regulatory submissions and approvals and development programs. Many factors may cause actual results to differ from the Company's forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Those and other risks are described in the Company's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from the Company. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements.
CONTACT: Russell LaMontagne of Corinth Group Communications, for Savage Laboratories(R), 212/255-5340
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