MedPointe Pharmaceuticals Sets Leadership Succession And Management Realignment Plans Into Motion; Paul Edick Promoted To CEO

SOMERSET, N.J.--(BUSINESS WIRE)--April 13, 2006--As part of an orderly management succession plan and a realignment of management responsibilities which were revealed early today, Anthony H. Wild, MedPointe Inc. co-founder and Chairman/CEO, announced that he will retire as CEO from MedPointe and turn over the reins of the Company to Paul R. Edick, who will be promoted to become MedPointe's CEO and a member of the Company's Board of Directors, effective May 1, 2006. While relinquishing his CEO post, Dr. Wild will serve as Non-Executive Chairman of MedPointe's Board of Directors. In concert with Dr. Wild's retirement, his MedPointe co-founding partner, John Hawkins, will also retire from MedPointe as EVP-Corporate Development & External Affairs, effective July 1, 2006.

Mr. Edick joined MedPointe in 2002 as President of its Wallace Pharmaceuticals division. Shortly thereafter, he was named MedPointe President. Prior to joining MedPointe in 2002, Mr. Edick had assembled an outstanding, 25-year track record of success in leading pharmaceutical organizations. Between 1994-2002, in a series of positions at G. D. Searle and its acquirer, Pharmacia Corporation, he led Searle's US managed care organization (1994-95), its US marketing organization (1995-96), and its Global Pain & Inflammation Business - including the development of the launch strategy for Celebrex® (1996-97). In 1998, he assumed his first international leadership role, as he was named Searle's VP-Canada & Latin America. A year later, he became President of Asia Pacific, Canada & Latin America. In 2000, upon Pharmacia's acquisition of Searle, Mr. Edick was named Group Vice President and President, Asia Pacific/Latin America at Pharmacia. Mr. Edick is a native of upstate New York and a graduate of Hamilton College.

In making this announcement, Dr. Wild commented, "I congratulate Paul on his appointment to CEO and to our Board of Directors. We have worked closely together over the last four years, and I have taken great pleasure in watching his professional development. He is a worthy successor, and he deserves this recognition. He has done a superb job in leading our organization. I have every confidence that he and his team will realize the outstanding potential that MedPointe possesses. Paul is ready for the opportunities and challenges that lie ahead."

Furthermore, in commenting upon the succession, Dr. Wild remarked, "Our Astelin® direct-to-consumer advertising campaign and our 100-representative sales force expansion, both of which Paul has overseen and which commenced in the first quarter of 2006, have significantly lifted Astelin's sales and given MedPointe a real boost. In addition, our ocular antihistamine, Optivar®, is showing record prescription growth trends, and our late-stage clinical line extension programs for Astelin® and Soma® are on track and are expected to yield a range of marketable products in 2007-2011. I am delighted that the Company is in solid shape, and this further supports the timing of the hand over to Paul and his new, highly talented leadership team."

Mr. Edick expressed gratitude to Dr. Wild and the Board on his selection as MedPointe's next CEO, "The Board has offered me a wonderful opportunity, and Tony has left behind an excellent foundation for future growth. I have appreciated and benefited greatly from Tony's wisdom and mentoring over the past four years. His many talents will be missed. Through his chairmanship of our Board of Directors and his periodic involvement in corporate growth initiatives, I anticipate that we will continue to gain from his wise counsel."

In addition to Mr. Edick's appointment, the Company also announced that Corey N. Fishman, currently SVP-Commercial Finance and Operations, is being promoted to Executive Vice President-Finance and Chief Financial Officer, effective May 1, 2006. In a move to streamline the organization, Mr. Fishman will consolidate under his span of control the finance, control, treasury, management accounting, supply chain, purchasing, tax and portfolio/business development organizations. He succeeds Karen C. Duffy who will be leaving MedPointe to pursue other interests. Mr. Fishman will report directly to Mr. Edick.

Since commencing his employment at MedPointe in 2002, Mr. Fishman has established himself as one of MedPointe's most talented executives, having been promoted in three of the past four years. He joined MedPointe as an Executive Director-Commercial Operations. He was promoted six months after joining the Company to Vice President-Commercial Operations. In 2005, he was promoted to SVP.

Paul Edick, with whom Mr. Fishman has worked since 1994, had the following comment on Mr. Fishman's promotion, "Corey is a remarkably talented executive. We have worked closely together for over a decade. I look forward to continuing our partnership in the months and years ahead at MedPointe. He is highly deserving of this appointment."

Mr. Fishman began his career in business analysis for LyphoMed, Inc., a generics pharmaceutical company. From 1990-1994, he worked at a start-up company where he was instrumental in the company's spin off, initial public offering, and capital formation activities. In this role, he was also directly responsible for financial planning and analysis, treasury operations, and risk management.

In 1994, Mr. Fishman joined Searle Pharmaceuticals and held positions in US operations as well as in its mergers and acquisitions organization. In 1996, he was promoted by Searle's parent, Monsanto Co., to a senior position in the parent's global financial planning and analysis organization. Two years later, he rejoined Searle within its Asia Pacific/Latin America/Canada region where, among a variety of responsibilities, he participated in the planning and launch of Celebrex® in a number of non-US markets. Following the merger of Searle/Monsanto with Pharmacia Corp., Corey served as Executive Director of Business Operations for the Latin American region. Mr. Fishman received his BA in Economics from the University of Illinois and his Masters in Management from the Krannert School of Management at Purdue University.

In addition to these developments and as part of the streamlining efficiencies being sought to size commensurately the MedPointe leadership structure to the underlying business, the Company announced that Mark S. Spiers, SVP-Commercial Operations, who had formerly reported to Mr. Edick, will also be resigning effective May 1, 2006.

In commenting on the departures of Mr. Hawkins, Ms. Duffy, and Mr. Spiers, Dr. Wild remarked, "We deeply appreciate the contributions these three executives have made to MedPointe, and we will miss each and every one of them. We owe them an enormous debt of gratitude for their determination, good judgment, and commitment to MedPointe. They have served us admirably. Without John's and Karen's tireless efforts in not only supporting the founding of MedPointe but also in taking it to the next level, and without Mark's major contributions to the on-boarding of various growth opportunities, we would not be in nearly as solid a shape as we are today. We wish them well in their future endeavors. They leave behind a strong, healthy enterprise lead by a talented management team that is well-equipped to move MedPointe forward."

MedPointe Inc. is a privately held specialty pharmaceutical company located at 265 Davidson Avenue, Suite 300, Somerset, New Jersey, 08873-4120; 732-564-2200. Backed by private equity investors, including The Carlyle Group and The Cypress Group, MedPointe specializes in respiratory, allergy, central nervous system, and pediatric products. The Company maintains a manufacturing facility in Decatur, IL. For more information on MedPointe, visit www.medpointepharma.com.

Contact: MedPointe Inc. John Hawkins, 732-564-2233 jhawkins@medpointepharma.com www.medpointepharma.com or Public Relations: Cohn & Wolfe Carrie Goldstein, 212-798-9816 carrie_goldstein@nyc.cohnwolfe.com

Source: MedPointe Inc.

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