ANPI Angiotech Pharmaceuticals - Common Shares (MM)

Angiotech Partner announces FDA approval for its TAXUS(TM) Express2(TM) paclitaxel-eluting coronary stent system Boston Scientific plans to launch in U.S. immediately VANCOUVER, March 4 /PRNewswire-FirstCall/ -- Angiotech Pharmaceuticals, Inc. (NASDAQ:ANPI; TSX:ANP) today announced that its corporate partner, Boston Scientific Corporation, has received approval from the U.S. Food and Drug Administration (FDA) to market its TAXUS(TM) Express2(TM) paclitaxel-eluting coronary stent system. Boston plans to launch the product in the United States immediately, and it has ample inventory in all sizes. The Company launched the TAXUS system in Europe and other international markets in February of 2003 and is the leader in those markets today. "We congratulate Boston Scientific for the scientific and clinical rigor, thoroughness, and execution of the TAXUS program," said William L. Hunter, President and CEO of Angiotech. "It is gratifying to see discovery work pioneered by Angiotech and our academic collaborators culminate in the launch of a breakthrough therapy that will significantly impact the lives of thousands of patients." "This approval is a breakthrough event for the treatment of cardiovascular disease in the United States," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "Broad, consistent clinical data and extensive real-world experience have clearly demonstrated that polymer- based delivery of paclitaxel is a safe and effective therapy that dramatically reduces restenosis. These attributes are complemented by the outstanding deliverability of the TAXUS stent system. Today's approval of the TAXUS system makes this revolutionary new therapy commercially available for the first time in the United States. We are pleased to provide U.S. physicians with this innovative technology, which will help so many patients live better lives." "We are maintaining the financial goals we outlined at last week's analyst meeting," Tobin added. "Events that have occurred subsequent to the meeting have not altered our goals." "The approval of the TAXUS system marks an important opportunity for clinicians in the United States," said Gregg Stone, M.D., Vice Chairman of the Cardiovascular Research Foundation at the Lenox Hill Heart and Vascular Institute in New York, and Principal Investigator of the TAXUS IV clinical trial. "In paclitaxel, we now have a multi-functional drug that is safe and highly effective. The TAXUS system has shown impressive results across a wide rangeof patients. Its performance has been particularly impressive in challenging cases such as patients with diabetes, small vessels and long lesions." "The TAXUS system is a welcome new ally in the fight against cardiovascular disease," said Stephen Ellis, M.D., Director of the Sones Cardiac Catheterization Laboratories at the Cleveland Clinic, and the Co- Principal Investigator of the TAXUS IV trial. "It offers a well-regarded drug in combination with a delivery system that is exceptionally flexible and conformable." The TAXUS product will use the Express2(TM) coronary stent on the Maverick(TM) balloon system as its platform. Together, they form the Express2(TM) coronary stent system, which is known for its excellent deliverability and conformability. Angiotech Pharmaceuticals, Inc. is dedicated to enhancing the performance of medical devices and biomaterials through the innovative use of pharmacotherapeutics. To find out more about Angiotech Pharmaceuticals, Inc (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), visit our website at http://www.angiotech.com/. Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continue," "estimate," "expects," "may" and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, orthe failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with the United States Securities and Exchange Commission or the Canadian securities regulators. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not assume the obligation to update any forward-looking statements. DATASOURCE: Angiotech Pharmaceuticals, Inc. CONTACT: Angiotech Pharmaceuticals Contact: Ian Harper (investors & media) ext. 6933, Rui Avelar (analysts) ext. 6996, Phone: (604) 221-7676

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