Bio-Technology General Corp. Announces Purported Class Action Lawsuits.Business Editors EAST BRUNSWICK, N.J.--(BUSINESS WIRE)--Jan. 13, 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 purported class action lawsuits have been brought against it and certain of its officers in the United States District Court for the District of New Jersey The United States District Court for the District of New Jersey is the Federal district court whose jurisdiction is the state of New Jersey. It was established in 1789. New Jersey is the largest state by population to only have one District Court. The Honorable Garrett E. . The plaintiffs seek to represent all purchasers of BTG securities during the period from April 19, 1999 through August 2, 2002 and seek unspecified damages on their behalf. The plaintiffs allege that the defendants caused BTG's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements including, but not limited to, improper revenue recognition practices. Neither BTG nor any of its officers has been served but, if served, we intend to vigorously defend this matter. Bio-Technology General Corp. develops, manufactures and markets genetically engineered and other products for human health care. BTG's products are marketed worldwide. Products marketed by BTG or its licensees in the United States are Oxandrin(R) (oxandrolone, USP USP - unique sales point ), Delatestryl(R) (testosterone enanthate), Mircette(R) (oral contraceptive), and 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. ). Products sold internationally are Bio-Tropin(TM) (recombinant human growth hormone human growth hormone (HGH): see growth hormone. ), BioLon(TM) (sodium hyaluronate), Bio-Hep-B(TM) (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. ), Silkis(R) (vitamin D derivative), Arthrease(TM) (sodium hyaluronate for osteoarthritis), 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 . BTG's news releases and other information are available on the Company's website at www.btgc.com. 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, 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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