Bio-Technology General Corp. and Teva Pharmaceutical Industries Ltd. Announce Strategic Alliance in the Development and the Worldwide Commercialization of Generic Biotechnology Products.

ISELIN, N.J.--(BUSINESS WIRE)--Oct. 1, 1999--

Bio-Technology General Corp. (NASDAQ:BTGC) and Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) announced that they have entered into a strategic alliance that will focus on the development and global commercialization of several generic recombinant therapeutic products.

The agreement provides for each of the two companies to capitalize on their particular strengths. BTG's primary role will be to develop and manufacture the products, and Teva will have exclusive marketing rights.

The agreement calls for Teva to make payment to BTG of up to US $20 million for product rights and milestone payments.

Teva's President and CEO, Mr. Eli Hurvitz, commented: "Teva views this agreement as an important step, and a broadening of our activities in the continuously developing generic biotechnology area."

Dr. Sim Fass, Chairman and CEO of BTG, added: "We look forward to a most productive relationship with Teva and to the eventual introduction of the products to be developed for markets worldwide. We consider this alliance highly complementary to our overall mission and challenge of developing and introducing innovative, proprietary pharmaceuticals."

Bio-Technology General Corp., a leading biopharmaceutical company, develops, manufactures and markets genetically engineered and other products for human health care. BTG's products are marketed in over thirty countries worldwide.

Teva Pharmaceutical Industries Limited is Israel's largest pharmaceutical company, with 80% of its sales outside Israel, mainly in the United States. The Company develops, manufactures, and markets generic and branded human pharmaceuticals, active pharmaceutical ingredients, medical disposables and veterinary products.

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 which 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.