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UBS Warburg hosts Global Specialty Pharmaceuticals Conference

| Media Releases Americas

The UBS Warburg Global Specialty Pharmaceuticals Conference begins today at the Pierre Hotel in New York City and runs through Wednesday, May 23. Over 1,000 portfolio managers, financial analysts, and investors are scheduled to attend.

Senior executives representing over 70 public and private specialty pharmaceutical companies from North America, Europe, Asia and the Middle East will present over the two-day period. These companies represent some of the most intriguing areas of drug development, delivery and marketing.

The fundamentals for the pharmaceutical sector remain strong with solid first quarter results relative to other sectors. Generic drugs continue to benefit from the ongoing wave of patent expirations and the likely increased volume in the slowing U.S. economy. New drug delivery product launches, along with late stage advancing pipelines, provide new revenue streams that continue to validate this growing niche.

Tuesday's agenda offers one track of 15 companies that are leaders in their respective niches based upon market share, market capitalization and growth outlook. David Southwell, CFO of Sepracor, will kick off company presentations. During the day, Ken Goodman, COO of Forest Laboratories; Elliot Hahn, President of Andrx Corp.; Angus Russell, Group Financial Director of Shire Pharmaceuticals Group; Neil Flanzraich, President and Vice Chairman of IVAX Corporation; Bruce Downey, Chairman and CEO of Barr Laboratories, will present among others.

A highlight of Tuesday will be the keynote lunchtime discussion entitled "Prospects and Priorities for Hatch-Waxman Reform." Lisa Raines from Genzyme, Stephan Lawton from BIO and Marc Wheat from the House Committee on Energy and Commerce will discuss this increasingly important issue.

On Wednesday, presenters in multiple tracks include Joe Gregory, Vice Chairman of King Pharmaceuticals; Mark Prygocki, Sr., CFO of Medicis; Dr. Michael Goldberg, Chairman and CEO of Emisphere Technologies, Inc.; Mahendra Shah, Chairman and CEO of First Horizon Pharmaceuticals; John Sayward, CFO SICOR Inc.; Kenneth Howling, Vice President, Finance of Biovail; Joseph Rubinfeld, Chairman and CEO of SuperGen Inc.; Leon Gosselin, President and CEO of Axcan Pharma, Inc.

Steve Valiquette, a specialty pharmaceuticals analyst at UBS Warburg plans to state in his opening remarks that, "Many stocks within the sector are poised to continue to outperform this year, particularly on the generic side of the business as companies maneuver to successfully circumvent various patents on major blockbuster drugs. In addition, many of the generic companies are showing substantial progress in efforts to build branded drug franchises. The evolution to the proprietary side of the pharmaceutical industry should lead to P/E multiple expansion of many stocks tracked by UBS Warburg over the next several years."


C.J. Sylvester, who also covers specialty pharmaceutical industry for UBS Warburg will state that "the fundamentals in specialty pharmaceuticals remain quite sound for the remainder 2001, driven by key new product momentum that will continue to provide significant earnings leverage. With a new Republican administration and a slight GOP majority on Capitol Hill, we also feel the legislative environment is relatively benign. We see 2001 as an exciting year in which we have some new product introductions or continued leverage of existing products that will likely allow this group to deliver solid returns to investors."

There will be listen-only telephone conference lines for the general public to hear the presentations. The live call-in numbers will be +1-888-515-2781 (domestic) and +1-719-457-2605 (international). The replay numbers will be +1-800-759-8603 (domestic) and +1-402-220-8537 (international). The replay line will be available for up to four weeks after the conference.

Inquiries: Amy Rosenberg: +1 212-713-8510 (w) of UBS Warburg