Titan Pharmaceuticals, Inc. Signs Agreement With Novartis Pharma AG For Development and Commercialization of Zomaril(TM) in Japan

Apr 25, 2001, 01:00 ET from Titan Pharmaceuticals, Inc.

    SOUTH SAN FRANCISCO, Calif., April 25 /PRNewswire/ --
 Titan Pharmaceuticals, Inc. (Amex:   TTP) and Novartis Pharma AG (NYSE:   NVS)
 announced today that they have executed an agreement for the development and
 commercialization of Zomaril(TM) in Japan.  Zomaril(TM) is a novel
 antipsychotic agent that is currently completing a world-wide Phase III
 development program.  This new agreement builds upon Titan and Novartis'
 previously executed and ongoing agreement for world-wide development,
 manufacturing, and marketing of Zomaril(TM) outside Japan.  Under the new
 agreement, in exchange for rights to Zomaril(TM) in Japan, Titan receives
 license fees and milestone payments, in addition to royalties on product sales
 in Japan consistent with the previous agreement.
     Schizophrenia, affecting around 45 million people world-wide, is a complex
 disease with a high medical need for new and improved medicines with efficacy
 in broader segments of the patient population, and better tolerability.
 Zomaril(TM) is one of a new class of drugs referred to as SDAs
 (serotonin/dopamine receptor antagonists), which act by binding with serotonin
 and dopamine neurotransmitters.
     "We are very pleased to execute this agreement, extending our license
 agreement with Novartis for Zomaril(TM) to Japan," stated Dr. Louis R. Bucalo,
 Chairman, President, and CEO of Titan.  "The world-wide Phase III program for
 Zomaril(TM) conducted by Novartis is proceeding very well and right on
 schedule.  We are very encouraged that the potential for Zomaril(TM) will now
 encompass the important and emerging markets in Japan."
     "This deal enables us to increase the scope of our previous and successful
 agreement with Titan and strengthen our position in the nervous system
 diseases segment of the Japanese market," commented Dr. Joerg Reinhardt, Head
 of Development, Novartis Pharma AG.
     In August 1998, Zomaril(TM) advanced into Phase III clinical testing with
 enrollment of about 3,700 patients at multiple centers around the world.
 Included in this program are several pivotal efficacy studies and long-term
 tolerability studies.  The clinical program is expected to confirm the role of
 Zomaril(TM) as a truly novel compound for the treatment of psychiatric
 disorders.  Zomaril(TM) is poised to become a first-line therapy for
 schizophrenia, with low incidence of side effects that are seen with currently
 marketed anti-psychotic drugs, such as extrapyramidal movement disorders,
 weight gain and sedation.
     Novartis is a world leader in healthcare with core businesses in
 pharmaceuticals, consumer health, generics, eye-care, and animal health.  In
 2000, the Group's ongoing businesses achieved sales of CHF 29.1 billion
 (USD 17.2 billion) and invested approximately CHF 4.0 billion
 (USD 2.4 billion) in R&D.  Headquartered in Basle, Switzerland, Novartis
 employs about 67,600 people and operates in over 140 countries around the
 world.  For further information please consult http://www.novartis.com.
     Titan Pharmaceuticals, Inc. is a biopharmaceutical company focused on the
 development and commercialization of novel treatments for central nervous
 system (CNS) disorders, cancer and other serious and life-threatening
 diseases.  Titan has assembled a deep pipeline of products utilizing novel
 technologies that have the potential to significantly improve the treatment of
 these diseases.  Titan also establishes important partnerships with
 multinational pharmaceutical companies and government institutions for the
 development of its products.  Zomaril(TM), Titan's novel drug for the
 treatment of schizophrenia, is being developed through a corporate partnership
 agreement with Novartis Pharma AG.  Titan has also entered into a corporate
 partnership with Schering AG to develop and commercialize Spheramine(R), a
 novel treatment for Parkinson's disease.  In addition, several clinical
 programs in cancer therapy are supported by large oncology cooperative groups
 that are funded by the National Cancer Institute.
     This release contains certain forward-looking statements that can be
 identified by the use of forward-looking terminology such as "promising",
 "new", "potential", "expected" and "poised to become".  There are no
 guarantees that the aforementioned agreement will result in a new
 anti-psychotic drug or any subsequent commercialization of any product in any
 market.  Any such commercialization can be affected by, among other things,
 uncertainties relating to product development, regulatory actions or delays or
 government regulation generally, the ability to obtain or maintain patent or
 other intellectual property protection and competition in general.  Any of
 these and other factors can cause the actual results to differ materially from
 the expected or predicted results.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X53584114
 
 

SOURCE Titan Pharmaceuticals, Inc.
    SOUTH SAN FRANCISCO, Calif., April 25 /PRNewswire/ --
 Titan Pharmaceuticals, Inc. (Amex:   TTP) and Novartis Pharma AG (NYSE:   NVS)
 announced today that they have executed an agreement for the development and
 commercialization of Zomaril(TM) in Japan.  Zomaril(TM) is a novel
 antipsychotic agent that is currently completing a world-wide Phase III
 development program.  This new agreement builds upon Titan and Novartis'
 previously executed and ongoing agreement for world-wide development,
 manufacturing, and marketing of Zomaril(TM) outside Japan.  Under the new
 agreement, in exchange for rights to Zomaril(TM) in Japan, Titan receives
 license fees and milestone payments, in addition to royalties on product sales
 in Japan consistent with the previous agreement.
     Schizophrenia, affecting around 45 million people world-wide, is a complex
 disease with a high medical need for new and improved medicines with efficacy
 in broader segments of the patient population, and better tolerability.
 Zomaril(TM) is one of a new class of drugs referred to as SDAs
 (serotonin/dopamine receptor antagonists), which act by binding with serotonin
 and dopamine neurotransmitters.
     "We are very pleased to execute this agreement, extending our license
 agreement with Novartis for Zomaril(TM) to Japan," stated Dr. Louis R. Bucalo,
 Chairman, President, and CEO of Titan.  "The world-wide Phase III program for
 Zomaril(TM) conducted by Novartis is proceeding very well and right on
 schedule.  We are very encouraged that the potential for Zomaril(TM) will now
 encompass the important and emerging markets in Japan."
     "This deal enables us to increase the scope of our previous and successful
 agreement with Titan and strengthen our position in the nervous system
 diseases segment of the Japanese market," commented Dr. Joerg Reinhardt, Head
 of Development, Novartis Pharma AG.
     In August 1998, Zomaril(TM) advanced into Phase III clinical testing with
 enrollment of about 3,700 patients at multiple centers around the world.
 Included in this program are several pivotal efficacy studies and long-term
 tolerability studies.  The clinical program is expected to confirm the role of
 Zomaril(TM) as a truly novel compound for the treatment of psychiatric
 disorders.  Zomaril(TM) is poised to become a first-line therapy for
 schizophrenia, with low incidence of side effects that are seen with currently
 marketed anti-psychotic drugs, such as extrapyramidal movement disorders,
 weight gain and sedation.
     Novartis is a world leader in healthcare with core businesses in
 pharmaceuticals, consumer health, generics, eye-care, and animal health.  In
 2000, the Group's ongoing businesses achieved sales of CHF 29.1 billion
 (USD 17.2 billion) and invested approximately CHF 4.0 billion
 (USD 2.4 billion) in R&D.  Headquartered in Basle, Switzerland, Novartis
 employs about 67,600 people and operates in over 140 countries around the
 world.  For further information please consult http://www.novartis.com.
     Titan Pharmaceuticals, Inc. is a biopharmaceutical company focused on the
 development and commercialization of novel treatments for central nervous
 system (CNS) disorders, cancer and other serious and life-threatening
 diseases.  Titan has assembled a deep pipeline of products utilizing novel
 technologies that have the potential to significantly improve the treatment of
 these diseases.  Titan also establishes important partnerships with
 multinational pharmaceutical companies and government institutions for the
 development of its products.  Zomaril(TM), Titan's novel drug for the
 treatment of schizophrenia, is being developed through a corporate partnership
 agreement with Novartis Pharma AG.  Titan has also entered into a corporate
 partnership with Schering AG to develop and commercialize Spheramine(R), a
 novel treatment for Parkinson's disease.  In addition, several clinical
 programs in cancer therapy are supported by large oncology cooperative groups
 that are funded by the National Cancer Institute.
     This release contains certain forward-looking statements that can be
 identified by the use of forward-looking terminology such as "promising",
 "new", "potential", "expected" and "poised to become".  There are no
 guarantees that the aforementioned agreement will result in a new
 anti-psychotic drug or any subsequent commercialization of any product in any
 market.  Any such commercialization can be affected by, among other things,
 uncertainties relating to product development, regulatory actions or delays or
 government regulation generally, the ability to obtain or maintain patent or
 other intellectual property protection and competition in general.  Any of
 these and other factors can cause the actual results to differ materially from
 the expected or predicted results.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X53584114
 
 SOURCE  Titan Pharmaceuticals, Inc.