SAN DIEGO, Oct. 9, 2001 (PRIMEZONE) -- Presenting at the UBS Warburg Global Life Sciences Conference on Monday, October 8, Women First HealthCare, Inc. (Nasdaq:WFHC) chairman, president and CEO Edward F. Calesa told attendees that the Company's turnaround is largely complete, with breakeven expected in fourth quarter 2001 and profitability expected in 2002.
The turnaround, according to Calesa, began in July 2000 with the formation of a new senior management team with an entrepreneurial attitude, a new business model focused on acquisition and in-license of pharmaceutical products, and new measures implemented to align expense and revenue. "In recent months," noted Calesa, "two new Board members with extensive specialty pharmaceutical experience were added to the Women First Board of Directors; our Esclim(tm) transdermal estrogen patch was added to the AdvancePCS Performance Drug List, its highest priority drug list; and we raised $31.5 million in our August 2001 private placement. We expect that our accomplishments to-date, combined with future product acquisitions and plans to expand our sales force, should lead to future profitability. While we are gratified to have improved results so dramatically in a relatively short period of time and expect that we will break even in fourth quarter 2001, our goal continues to be sustainable and accelerating profitability."
Calesa told conference attendees that marketing efforts in support of the addition of Esclim(tm) to the AdvancePCS Performance Drug List should replace earnings lost in 2002 as a result of the co-promotion termination announced September 27, 2001. Calesa said the Company plans to increase its sales force by 25% and focus the new hires in territories with two to three times the market potential of the former co-promotion territories. "This will produce higher margin sales and will give the Company the ability to detail Esclim(tm) and ORTHO-EST(r) Tablets in a primary selling position," stated Calesa.
Mr. Calesa's presentation at the UBS Warburg Global Life Sciences Conference is available via recorded telephone call option until approximately November 9, 2001. Recorded call access numbers for the Monday, October 8, 2001 UBS Warburg Global Life Sciences Conference presentations are 1-800-759-8603 (domestic) and 1-402-220-8537 (international). An audio prompt menu will direct callers to the Women First HealthCare presentation given by Mr. Calesa. Mr. Calesa's UBS Warburg slide presentation is available on the Company's Website at www.womenfirst.com, Investor Relations, Interviews/Presentations area and will remain archived there until November 9, 2001.
About Women First HealthCare, Inc.
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. An internationally recognized Health Advisory Board of experts in women's health guides Women First HealthCare in the development of information and products for women and clinicians as women transition from perimenopause through postmenopause. The Company operates in three segments: Pharmaceuticals, Consumer Business and Corporate Marketing. Product focus currently includes estrogen replenishment, headache management, dietary supplementation and self-care/lifestyle. Further information about Women First HealthCare can be found online at www.womenfirst.com, About Us and Investor Relations. Information about the Company's As We Change(r) national mail order catalog and Internet retailer can also be found online at www.aswechange.com.
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 not be able to identify appropriate licensing, co-promotion or acquisition 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; and (vii) 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 ended June 30, 2001.