SAN DIEGO, June 14, 2001 (PRIMEZONE) -- Chairman, president and CEO Edward F. Calesa of Women First HealthCare, Inc. (Nasdaq:WFHC) addressed Women First shareholders at its 2001 annual meeting in New York City. Mr. Calesa's presentation included discussion of business operations, the Company's turnaround begun in third quarter 2000, marketing strategy, and strategic plans for the Company.
Mr. Calesa outlined Women First's specialty pharmaceutical model and management's expertise in women's health care to implement the model. He noted that the Company's shift in strategy from co-promotion to product acquisition and in-license has expanded revenue, margins and distribution of the Company's core products, ORTHO-EST(r) Tablets (estropipate) and Esclim(tm) (estradiol transdermal system). The Company's contracts with Novation (announced December 2000), AdvancePCS (announced March 2001) and Essentia Pharmaceuticals (announced April 2001) support continued growth.
The Company's turnaround, begun in the third quarter of 2000, coincided with the change in management and strategic focus and has been characterized by a realignment of expenses and revenues and a stabilization of financial resources.
The foundation of Women First's marketing strategy is its Health Advisory Board, a six-person group of opinion leaders in women's health, who provide information to clinicians and patients and advice to the Company on products. The marketing effort targets high prescribing clinicians reached through women's health care professionals including 71 salaried Women First sales representatives and managers and 50 Essentia contracted sales representatives.
The Company's Consumer Business Division, with a new management team and a shift in focus from revenue growth to profit, supports the Pharmaceutical Division.
The Women First Trialogue(tm) Division's Integrated Marketing Platform (IMP) offers pharmaceutical companies strategic marketing programs designed to increase market share and size by strengthening and augmenting their own marketing and sales efforts.
Concerning strategic plans, Mr. Calesa noted that Women First has initiated dialogue with several pharmaceutical companies for future pharmaceutical product acquisitions that support its mission. Additional future Company milestones include profitability, contracts for Trialogue(tm) finding a new manufacturer for ORTHO-EST(r) Tablets, and introducing new marketing strategies for Esclim(tm).
In the formal business segment of the meeting, Women First HealthCare shareholders reelected two directors, Nathan Kase, MD and Ms. Ruth A. Wooden, each for a three-year term to expire at the 2004 annual meeting. Dr. Kase has served as a director of the Company since June 2000. He is professor, Department of Obstetrics, Gynecology and Reproductive Science and dean emeritus, the Mount Sinai School of Medicine, and chairman and executive editor of the Women First Health Advisory Board. Ms. Wooden has served as a director since January 2001. She is the president and chief executive officer of The National Parenting Association and former president and chief executive officer of The Advertising Council, Inc. Women First shareholders also ratified the selection of Ernst and Young LLP as the Company's independent auditors for the fiscal year ending December 31, 2001.
About Women First HealthCare, Inc.
Founded in 1996, Women First HealthCare, Inc. is a San Diego-based specialty pharmaceutical company. Its mission is to help midlife women make informed choices regarding their health care needs and to provide pharmaceutical and lifestyle products to meet those needs. Women First is specifically targeted to women age 40+ and their clinicians. The Company's Pharmaceutical Division, which includes a nationwide team of experienced sales specialists, contacts primarily OB/GYNs and Nurse Practitioners with estrogen replenishment options-ORTHO-EST(r) Tablets (estropipate) and Esclim(tm) (estradiol transdermal system). The Consumer Business is responsible for Daily Difference(tm) dietary supplements, developed in consultation with Tufts University School of Nutrition Science and Policy, and the Company's line of self-care products available through its As We Change(r) national mail order catalog and Internet retailer, www.aswechange.com. Trialogue(tm), the Corporate Marketing Division, is responsible for providing access to Women First's network of opinion leaders and clinicians through strategic marketing programs for sale to major pharmaceutical companies. The Company's business strategy includes the acquisition and licensing of additional prescription products that support its mission. Further information about Women First can be found online at www.womenfirst.com.
About ORTHO-EST(r) Tablets and Esclim(tm)
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. For more information about these products or to see the package insert, please visit www.womenfirst.com, Rx Products area.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: 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 continue to experience significant losses; (ii) there is a limited market awareness of our Company and the products and services we offer; (iii) we may need additional financing in 2001 to fund our operations, acquire new products, and make planned capital expenditures, which financing may not be available on acceptable terms, if at all; (iv) we may not be able to identify appropriate licensing, co-promotion or acquisition candidates in the future or to take advantage of the opportunities we identify; (v) we are obligated to find replacement sources of supply of ORTHO-EST(r) Tablets before April 2002, and if we fail to do so we will be required to pay significantly higher prices for product acquired from Ortho-McNeil Pharmaceutical; (vi) we and our products face significant competition; (vii) if we do not successfully manage any growth we experience, we may experience increased expenses without corresponding revenue increases; (viii) we are dependent on single sources of supply for all of the products we offer; 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, 2000 and its Form 10-Q for the period ending March 31, 2001.