SAN DIEGO, July 13, 2001 (PRIMEZONE) -- Women First HealthCare, Inc. (Nasdaq:WFHC) has elected Dennis M. Jones, founder and former chairman and chief executive officer of Jones Pharma Incorporated, now a wholly owned subsidiary of King Pharmaceuticals, Inc., to the Company's board of directors. Mr. Jones replaces former board member Gary V. Parlin, who resigned to pursue other interests.
Mr. Jones founded Jones Pharma in 1981 and, through multiple product acquisitions, increased revenues to $185 million annually by August 2000, when the company was acquired by King Pharmaceuticals in a transaction valued at $2.7 billion. The business model used by Jones Pharma to grow its business, focusing on small specialty pharmaceutical products overlooked by big pharmaceutical companies, is the foundation upon which Women First has developed its growth strategy.
"We are thrilled to have Dennis join our board," said Edward F. Calesa, chairman, president and CEO of Women First. "He is not only one of the architects of the acquisition strategy we have been operating under since July of last year but also a prime example of the success of the model. Dennis complements the recent addition of Mike Sember to the board and further strengthens the board's acquisition expertise. Equally important, he brings a great track record of building revenue for the smaller, overlooked pharmaceutical products we hope to acquire in the future."
Mr. Jones serves as a trustee of the St. Louis College of Pharmacy and is a director of the Marine Corp Scholarship Foundation and of various charitable organizations in the St. Louis area. He is a 2001 Association for Corporate Growth International Award recipient and was named Entrepreneur of the Year in the National Health Care/Life Sciences in 1996. Mr. Jones received an Honorary Doctorate of Humanities from St. Louis University in 1998.
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) -- and the prescription headache management product, Midrin(r) (isometheptene mucate, USP, dichloralphenazone, USP and acetaminophen, USP). 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.
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 and our products face significant competition; (vi) if we do not successfully manage any growth we experience, we may experience increased expenses without corresponding revenue increases; (vii) we are dependent on single sources of supply for all of the products we offer; and (viii) 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.