COR Therapeutics, Inc. Reports Profitable Third Quarter.

    Health & Medical Writers

      SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Oct. 24, 2001--COR
Therapeutics, Inc. (Nasdaq:CORR) today announced worldwide sales of
INTEGRILIN(R) (eptifibatide) Injection for the quarter ended September
30, 2001 were $59 million, as reported to COR by its partner for
INTEGRILIN, Schering-Plough Corporation. Sales of INTEGRILIN in the
United States were $53 million.
      For the nine-month period ended September 30, 2001, worldwide
sales of INTEGRILIN were $164 million, of which $148 million were in
the United States.
      COR confirmed prior guidance of full-year 2001 worldwide sales of
INTEGRILIN in the range of $240 to $250 million, and full-year 2001
earnings per share in the range of $0.11 to $0.13.
      Total contract revenues for the quarter ended September 30, 2001
were $33.0 million, as compared to $29.9 million for the same period
in 2000. Co-promotion revenue related to the sale of INTEGRILIN by
Schering-Plough were $30.3 million for the third quarter of 2001 as
compared to $27.8 million for the same period in 2000. The Company
reported net income of $0.8 million, or $0.01 per share, for the
quarter ended September 30, 2001, as compared to a net loss of $1.2
million, or $0.02 per share, for the same period in 2000. At September
30, 2001, the Company had cash, cash equivalents and short-term
investments of $633.3 million.
      For the nine-month period ended September 30, 2001, COR reported
total contract revenues of $93.9 million, as compared to $72.9 million
for the same period in 2000. Of that total, $85.5 million was related
to co-promotion revenue from Schering-Plough as compared to $67.7
million for the same period last year. The Company reported net income
of $1.2 million, or $0.02 per share, for the nine months ended
September 30, 2001, compared with a net loss of $17.7 million, or
$0.33 per share, for the same period in 2000.
      COR also stated that it is webcasting a live conference call at
5:00 p.m. Eastern Daylight Time today, October 24, 2001, as part of
the Company's efforts to ensure full disclosure to all parties. The
webcast may be accessed by logging onto either http://www.corr.com or
http://www.vcall.com/NASApp/VCall/EventPage?ID=78786 on the internet.
In addition, the webcast will be archived and will be available for
five business days.
      COR Therapeutics, Inc. is dedicated to the discovery, development
and commercialization of novel pharmaceutical products for the
treatment and prevention of severe cardiovascular diseases. COR has
complementary research and development programs that seek to address
critical needs in severe cardiovascular care, including unstable
angina, acute myocardial infarction, deep vein thrombosis and
restenosis.
      In addition to the historical information contained herein, this
press release contains forward-looking statements that involve risks
and uncertainties. Actual results may differ materially from the
anticipated results discussed in such forward-looking statements, due
to factors related to the commercialization of INTEGRILIN and other
factors discussed in the Company's SEC reports, including, but not
limited to, the Company's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2001, and Annual Report on Form 10-K for the
year ended December 31, 2000. Forward-looking statements are based on
current expectations and the Company does not intend to update such
information to reflect later events or developments.

      INTEGRILIN(R) is a registered trademark of COR Therapeutics, Inc.

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Statements of Operations
(unaudited, in thousands, except per share amounts)

                         Three Months Ended        Nine Months Ended
                            September 30,            September 30,
                     ----------------------- ------------------------
                          2001        2000         2001        2000
                     -----------  ---------- ------------ -----------
Contract revenues:
Copromotion
 revenue               $ 30,319    $ 27,840     $ 85,532    $ 67,725
Other contract
 revenue                  2,704       2,073        8,334       5,166
                     -----------  ---------- ------------ -----------
Total contract
 revenues                33,023      29,913       93,866      72,891
                     -----------  ---------- ------------ -----------
Expenses:
Cost of
 copromotion
 revenue                 13,626      14,034       38,838      37,302
Research and
 development             11,452      10,246       35,113      32,990
Marketing,
 general
 and administrative       7,557       8,082       22,626      23,490
                     -----------  ---------- ------------ -----------
Total expenses           32,635      32,362       96,577      93,782
                     -----------  ---------- ------------ -----------
Income (loss)
 from operations            388      (2,449)      (2,711)    (20,891)
Interest income           8,583       5,597       21,154      13,516
Interest expense         (8,184)     (4,369)     (17,195)    (10,284)
                     -----------  ---------- ------------ -----------
Income (loss)
 before income
 taxes                      787      (1,221)       1,248     (17,659)
Provision for
 income taxes                16          --           25          --
                     -----------  ---------- ------------ -----------
Net income (loss)         $ 771    $ (1,221)     $ 1,223   $ (17,659)
                     ===========  ========== ============ ===========
Basic net income
 (loss) per share        $ 0.01     $ (0.02)      $ 0.02     $ (0.33)
                     ===========  ========== ============ ===========
Shares used in
 computing
 basic net
 income (loss)
 per share               55,609      54,067       55,370      52,969
                     ===========  ========== ============ ===========
Diluted net
 income
 (loss) per
 share                   $ 0.01     $ (0.02)      $ 0.02     $ (0.33)
                     ===========  ========== ============ ===========
Shares used in
 computing
 diluted
 net income
 (loss) per
 share                   59,094      54,067       59,203      52,969
                     ===========  ========== ============ ===========


Condensed Balance Sheets
(unaudited, in thousands)
                                      September 30,      December 31,
                                           2001               2000
                                ------------------ -----------------
Assets:
Cash, cash
 equivalents and
 short-term investments                 $ 633,275         $ 339,878
Other current assets                      101,454            71,972
                                ------------------ -----------------
Total current assets                      734,729           411,850
Property and equipment, net                 6,077             3,724
Other assets                               17,900             9,572
                                ------------------ -----------------
                                        $ 758,706         $ 425,146
                                ================== =================
Liabilities and
 stockholders' equity:
Current liabilities                      $ 97,973          $ 75,356
Convertible
 senior notes                             300,000                --
Convertible
 subordinated notes                       300,000           300,000
Other long-term
 liabilities                                1,431             1,659
Stockholders'
 equity                                    59,302            48,131
                                ------------------ -----------------
                                        $ 758,706         $ 425,146
                                ================== =================

    --30--mw/ny*

    CONTACT: COR Therapeutics, Inc., South San Francisco

             Peter S. Roddy
             Catherine C. Villegas
             650/244-6893
                  or
             Burns McClellan, Inc., New York
             Lisa Burns
             Jonathan M. Nugent
             212/213-0006

    KEYWORD: CALIFORNIA
    INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICAL DEVICES PHARMACEUTICAL
EARNINGS
    SOURCE: COR Therapeutics, Inc.