Columbia Laboratories Announces Marketing Partnership with Mipharm S.p.A. For Striant -Testosterone Buccal System- Mucoadhesive In Italy.

Business Editors/Health/Medical Writers

LIVINGSTON, N.J. & MILAN, Italy--(BUSINESS WIRE)--June 9, 2003

Columbia to Receive $1.4 Million in Upfront Payments

and Future Performance Fees

Columbia Laboratories (AMEX: COB) and Mipharm S.p.A. announced today that they have executed an agreement for marketing Columbia's Striant(TM) (testosterone buccal system) mucoadhesive in Italy.

Under the terms of the agreement, Mipharm will market, distribute and sell Striant(TM) in Italy. In exchange for these rights, Columbia will receive payments of $1.4 million, including the immediate reimbursement of $350,000 in development costs. A mutual recognition application for marketing in Italy will be filed based on initial regulatory approval of the pending application in the United Kingdom. Mipharm will provide additional performance payments upon achievement of certain levels of sales in Italy, and Columbia will receive a percentage markup on the cost of goods for each unit sold. Mipharm is Columbia's manufacturer for Striant(TM) under a May 2002 agreement.

Fred Wilkinson, chairman, president and chief executive officer of Columbia Laboratories, stated, "We are pleased to expand our relationship with Mipharm to include the marketing of this promising product, and are confident that Mipharm will successfully launch Striant(TM) in the key market of Italy. We now have supply and distribution agreements in place for 19 countries in Europe, and continue to explore similar agreements that would allow Striant(TM) to be marketed worldwide."

Giuseppe G. Miglio, Mipharm's founder, chairman and chief executive officer commented, "We are very excited to be able to commercialize Striant(TM) in Italy. Striant(TM) is based upon an innovative technology and will be introduced into a highly unsatisfied market where this new approach to therapy is expected to be well received by both patients and physicians. This represents an important opportunity to address a significant unmet healthcare need with a convenient therapeutic alternative for patients. In addition to having been part of the development team for Striant(TM) through our Special Services Division, which took care of the final formulation development of this product, we are pleased to be the manufacturer of Striant(TM) for the U.S. and European markets in our new dedicated Potent Drug manufacturing suite."

Striant(TM), for which Columbia submitted an NDA with the U.S. Food and Drug Administration in August 2002 and a Marketing Authorization Application in the UK in November 2002, is a controlled- and sustained- release tablet-like mucoadhesive buccal system containing 30mg of testosterone. Striant(TM) allows for the slow release and absorption of testosterone through gum and cheek surfaces that are in contact with the product. Dosing is twice-daily, with applications in the morning and in the evening, which maintains consistent physiologic levels of testosterone. This product utilizes both the Bioadhesive Delivery System (BDS) and the hydrating buccal technology platforms previously patented by the company.

Columbia Laboratories, Inc. is a U.S.-based international pharmaceutical company dedicated to the development and commercialization of women's health care and endocrinology products, including those intended to treat infertility, dysmenorrhea, endometriosis and hormonal deficiencies. Columbia is also developing hormonal products for men and a buccal delivery system for peptides. Columbia's products primarily utilize the company's patented Bioadhesive Delivery System (BDS) technology. For more information, visit www.columbialabs.com.

Mipharm S.p.A., based in Milan, Italy, is an independent pharmaceutical company focused on dermatology/skin care, gynecology/women's health, and special care. The company has an FDA approved manufacturing facility that supplies products for sale throughout Europe and the U.S. for large pharmaceutical companies. Mipharm was founded in January 1998, by Dr. Giuseppe G. Miglio (formerly President of the Pharmaceutical Business of Novartis in Italy and President and Chairman of Sandoz Holding, Italy) with a spin-off from Novartis' Milan technical production facility.

Mipharm recently strengthened its relationship with Novartis Pharma AG (Basel) through the acquisition by Novartis Pharma AG of 10 percent of Mipharm's shares by the way of a capital investment and by conferring the title of "preferred supplier" of the Novartis Group.

In addition to its manufacturing capabilities, new technology delivery systems that improve upon traditional systems and add value to effective and well known compounds are one of Mipharm's strengths. For more information, visit www.mipharm.it

This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management team. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements. Such risks and uncertainties include, among other things, timely and successful completion of clinical studies, success in obtaining regulatory acceptance and approval of new products, including Striant(TM), the successful commercialization of Striant(TM), if approved, competitive economic and regulatory factors in the pharmaceutical and healthcare industry, general economic conditions, and other risks and uncertainties that may be detailed, from time to time, in Columbia's reports filed with the Securities and Exchange Commission.