LOS ANGELES, Feb. 7, 2002 (PRIMEZONE) -- American Pharmaceutical Partners (Nasdaq:APPX) today announced it has launched SmartAmp(r), the first needleless, all-plastic ampule containing heparin, an anticoagulant used in the treatment of a variety of medical conditions and commonly administered through vascular access devices.
Patrick Soon-Shiong, M.D., chairman, president and chief executive officer of American Pharmaceutical Partners (APP), said, "The introduction of SmartAmp with heparin is in keeping with our commitment to develop innovative products that improve the safety of administering pharmaceutical compounds and meet unmet medical needs. We believe that SmartAmp and other such delivery systems will become important components of our future product offerings."
"We think the medical community will embrace this product for several important reasons," said Jeffrey Yordon, chief operating officer of APP. "SmartAmp is simple to use, therefore it should reduce the number of steps involved in administering medications and it may lower a healthcare provider's exposure to dangerous needlesticks. It also provides a cost-effective packaging alternative to currently available heparin products." Yordon noted that heparin represents one of APP's top ten selling products.
The use of SmartAmp involves simply twisting off the top of the latex-free, shatterproof ampule, attaching it to a syringe, pulling back on the plunger and removing and disposing of the SmartAmp once the heparin fills the syringe. Unlike the traditional syringe method, SmartAmp does not have glass, needles, or sharp bands than can cause injuries to medical staff and patients.
SmartAmp was developed in accordance with the Occupational Safety and Health Administration's (OSHA) recently revised blood borne pathogens standard as mandated by the Needlestick Safety and Prevention Act. This act directs employees to select safer needle devices as they become available.
American Pharmaceutical Partners, Inc. is a specialty drug company that develops, manufactures and markets injectable pharmaceutical products, focusing on the oncology, anti-infective and critical care markets. APP has acquired the exclusive North American rights to manufacture and market a proprietary injectable oncology product, currently in Phase III clinical trials for metastatic breast cancer and being studied in a variety of other cancers. The company is also one of the largest producers of injectables, with more than 100 generic products in more than 300 dosages and formulations. For more information, visit APP's website at www.appdrugs.com.
Statements contained in this press release, which are not historical facts, are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated, due to a number of factors, which include, but are not limited to, the success of the SmartAmp heparin product and similar devices, the impact of pharmaceutical industry regulation, the difficulty in predicting the timing or outcome of product development efforts and FDA or other regulatory approvals or actions, the impact of competitive products and pricing, the availability and pricing of ingredients used in the manufacture of pharmaceutical products, the ability to successfully manufacture products in a time-sensitive and cost effective manner, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties, and other risk factors discussed in the Company's prospectus dated December 13, 2001 and documents filed by the Company with the Securities and Exchange Commission from time to time.