SAN DIEGO, June 5, 2002 (PRIMEZONE) -- Women First HealthCare, Inc. (Nasdaq:WFHC) chairman, president and CEO, Edward F. Calesa, today addressed Women First shareholders at its 2002 annual meeting in New York City. Calesa reviewed Women First's full-year 2001 and first quarter 2002 achievements, current business operations and strategic plans for the company.
"We continue to grow and add market share, particularly for our lead pharmaceutical product, Esclim(tm) (estradiol transdermal system)," Calesa told attendees. "Our company goal for 2002 is full-year profitability, and our key drivers in achieving that goal include continued organic growth of Esclim(tm) and a re-launch of Synalgos(r)-DC (drocode (dihydrocodeine) bitartrate, aspirin and caffeine), one of our prescription pain management products." Esclim(tm) is supported by major pharmacy benefit manager (PBM) distribution pathways including AdvancePCS, Express Scripts and Caremark, and by "Test & Treat," a physician education program aimed at individualizing treatment with transdermal estrogen replacement.
Calesa reiterated the company's commitment to acquire products that support its specialty pharmaceutical business strategy and have the potential to increase revenue and profit growth in 2002 and future years. Additional elements of the company's 2002 business plan are expected to contribute to 2003 results. These, Calesa said, include the launch of its prenatal vitamin, currently in development stage, and planned submissions to the U.S. Food and Drug Administration for reformulations of ORTHO-EST(r) Tablets (estropipate tablets, USP), Women First's oral estrogen replacement product, and Bactrim(tm) (trimethoprim and sulfamethoxazole), its antibacterial product indicated for a variety of usages including the treatment of certain urinary tract infections.
In the formal business segment of the meeting, Women First HealthCare shareholders reelected two directors, Edward F. Calesa and Dennis M. Jones, each for a three-year term to expire at the 2005 annual meeting. Calesa co-founded Women First in November 1996 and has served as a director since that time and as chairman of the board of directors since December 1996. Calesa also served as Women First's president and CEO from November 1996 to January 1998 and was reappointed president and CEO effective June 2000. Dennis M. Jones, founder and former chairman and CEO of Jones Pharma Incorporated, has served as a director of Women First since July 2001. Women First shareholders also approved an amendment to the Women First HealthCare, Inc. 1998 Long-Term Incentive Plan, which increased the number of shares of common stock available for issuance thereunder from 2,949,985 to 3,949,985 shares, and they ratified the selection of Ernst and Young LLP as the company's independent auditors for the fiscal year ending December 31, 2002.
About Esclim(tm) and ORTHO-EST(r) Tablets
ORTHO-EST(r) Tablets (estropipate tablets, USP) and Esclim(tm) (estradiol transdermal system) are indicated for the relief of moderate to severe vasomotor symptoms associated with menopause. ORTHO-EST(r) Tablets are also indicated for the prevention of osteoporosis. The most commonly reported side effects of ORTHO-EST(r) Tablets and Esclim(tm) are those typical of estrogen replenishment therapy: breast tenderness, headache, nausea, and abdominal pain. Estrogens have been reported to increase the risk of endometrial carcinoma in postmenopausal women. Estrogens are contraindicated in patients with known or suspected pregnancy, undiagnosed abnormal genital bleeding, known or suspected breast cancer, known or suspected estrogen-dependent neoplasia, or active thrombophlebitis or thromboembolic disorders.
About Bactrim(tm)
Bactrim(tm) (trimethoprim and sulfamethoxazole) Tablets and Suspensions are indicated for a number of conditions including Urinary Tract Infections due to certain susceptible strains of organisms, Acute Otitis Media in pediatric patients and Acute Exacerbations of Chronic Bronchitis in Adults due to susceptible strains of Streptococcus pneumoniae or Haemophilus influenzae, Shigellosis caused by susceptible strains of Shigella flexneri and Shigella sonnei, Pneumocystis Carinii Pneumonia, and Traveler's Diarrhea in Adults due to susceptible strains of enterotoxigenic E. coli. The most common adverse side effects are gastrointestinal disturbances (nausea, vomiting, anorexia) and allergic skin reactions (such as rash and urticaria). Fatalities associated with the administration of sulfonamides, although rare, have occurred due to severe reactions including Stevens-Johnson Syndrome, toxic epidermal necrolysis, fulminant hepatic necrosis, agranulocytosis, aplastic anemia and other blood dyscrasias. Sulfonamide-containing products can produce, on rare occasions, severe allergic hyperreactivity reactions, which can be fatal. Cough, shortness of breath, and pulmonary infiltrates are hypersensitivity reactions of the respiratory tract that have been reported in association with sulfonamide treatment. Pseudomembranous colitis has been reported with nearly all antibacterial agents and may range in severity from mild to life-threatening. It is important to consider this diagnosis in patients who present with diarrhea. Sulfonamide-containing products such as trimethoprim/sulfamethoxazole should be discontinued at the first appearance of skin rash or any sign of adverse reaction.
For more information about these products or to see the package insert/full prescribing information, please visit www.womenfirst.com, Rx Products area.
Women First HealthCare, Inc. (Nasdaq:WFHC) is a San Diego-based specialty pharmaceutical company. Founded in 1996, its mission is to help midlife women make informed choices regarding their health care and to provide pharmaceutical products -- the Company's primary emphasis -- and lifestyle products to meet their needs. Women First HealthCare is specifically targeted to women age 40+ and their clinicians. Further information about Women First HealthCare can be found online at www.womenfirst.com, About Us and Investor Relations.
This press release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to various risks, and Women First HealthCare, Inc. cautions you that any forward-looking information is not a guarantee of future performance. Women First HealthCare, Inc. disclaims any intent or obligation to update these forward-looking statements. Actual results could differ materially due to a number of factors, including (i) we have incurred significant losses since we were founded in November 1996, and if midlife women do not use, and their clinicians do not recommend, the products we offer, we will experience losses in the future; (ii) there is a limited market awareness of our Company and the products and services we offer; (iii) we may not be able to identify appropriate acquisition, licensing, or co-promotion candidates in the future or to take advantage of the opportunities we identify; (iv) we and our products face significant competition; (v) if we do not successfully manage any growth we experience, we may experience increased expenses without corresponding revenue increases; (vi) we are dependent on single sources of supply for all of the products we offer; (vii) reduced consumer confidence could adversely affect sales by our Consumer Business Division; (viii) we have incurred significant debt obligations which will require us to make debt service payments in the future; and (ix) additional factors set forth in the Company's Securities and Exchange Commission filings including its Annual Report on Form 10-K for the period ended December 31, 2001 and its Form 10-Q for the period ended March 31, 2002.