Bio-Technology General Corp. Announces Company Name Change to Savient Pharmaceuticals, Inc.Business Editors/Health/Medical Writers BIOWIRE2K EAST BRUNSWICK, N.J.--(BUSINESS WIRE)--June 17, 2003 Bio-Technology General Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BTGC BTGC Bio-Technology General (stock symbol) BTGC Bukit Tinggi Golf Club (Malaysia) ) today announced that its stockholders have approved the change of its corporate name to Savient Pharmaceuticals, Inc. (Savient). In conjunction with the name change, effective Monday June 23, 2003, the Company's NASDAQ ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors will change to "SVNT." The Company's wholly owned subsidiaries, Bio-Technology General (Israel) Ltd. and Rosemont Pharmaceuticals Limited, will retain their corporate names. Also on June 23, the Company's website address will change to www.savientpharma.com. "Our corporate name change is driven by the change in the direction and strategic focus of our business over the past several years," stated Sim Fass, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company. "We have transitioned from a developer and manufacturer of recombinant therapeutic products into a profitable pharmaceutical business now encompassing the development, manufacture, and marketing of both genetically engineered and niche-focused, specialty pharmaceutical products. We believe our new name, Savient Pharmaceuticals, Inc., conveys the wisdom and knowledge base supporting this broader pharmaceutical focus. It is a more appropriate reflection of who we are today and will better represent us in the future as we work toward achieving the fulfillment of our mission and goals." About The Company Bio-Technology General Corp. (Savient Pharmaceuticals, Inc.) is a specialty pharmaceutical company with expertise in developing, manufacturing, and marketing human health care products for niche and wider markets. Products marketed by the Company's sales force in the United States are Oxandrin(R) (oxandrolone, USP USP - unique sales point ) and Delatestryl(R) (testosterone enanthate). The Company's subsidiary, Rosemont Pharmaceuticals, Limited, develops, manufactures, and markets oral liquid formulations of prescription products for the UK pharmaceutical market through its own sales force. The Company's Israeli subsidiary, Bio-Technology General (Israel), Ltd., manufactures and markets in Israel Bio-Tropin(TM) (recombinant human growth hormone human growth hormone (HGH): see growth hormone. ), BioLon(TM) (sodium hyaluronate hyaluronate /hy·al·uro·nate/ (hi?ah-ldbobr´ro-nat) a salt, anion, or ester of hyaluronic acid. The sodium salt and a derivative of it are used as analgesics in the treatment of osteoarthritis of the knee. ), Bio-Hep-B(R) (hepatitis B vaccine hepatitis B vaccine n. Abbr. HB A vaccine prepared from the inactivated surface antigen of the hepatitis B virus and used to immunize against hepatitis B. ), and Arthrease(TM) (sodium hyaluronate for osteoarthritis osteoarthritis or osteoarthrosis or degenerative joint disease Most common joint disorder, afflicting over 80% of those who reach age 70. It does not involve excessive inflammation and may have no symptoms, especially at first. ). Products marketed by the Company's licensees are Mircette(R) (oral contraceptive), and BioLon(TM) in the United States, and Bio-Tropin(TM), BioLon(TM), Bio-Hep-B(R), Silkis(R) (vitamin D derivative), Arthrease(TM), and recombinant human insulin Noun 1. recombinant human insulin - a form of insulin (trade name Humulin) made from recombinant DNA that is identical to human insulin; used to treat diabetics who are allergic to preparations made from beef or pork insulin Humulin , in international markets. The Company's news releases and other information are available on the Company's website at www.btgc.com, and www.savientpharma.com, effective June 23, 2003. Arthrease is a trademark of DePuy Orthopaedics, Inc.; Mircette is a registered trademark of Organon or·ga·non or or·ga·num n. pl. or·ga·nons or or·ga·nums or or·ga·na 1. An organ. 2. A set of principles for use in scientific investigation. organon pl. organa [Gr.] organ. , Inc.; Silkis is a registered trademark of Galderma S.A. Statements in this news release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, development, introduction, or consumer acceptance of competing products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. |
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