ESP Pharma, Presenting at the Fourteenth Annual CIBC Healthcare Conference, Reported Achieving Strong Growth in Sales and Profits Within the First Year of Initiating Operations.

Business Editors/Health/Medical Writers

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EDISON, N.J.--(BUSINESS WIRE)--Nov. 11, 2003

Company Sets a 5 in 5 Goal of Reaching $500 Million in Sales in

Five Years

ESP Pharma, Inc., a niche-oriented pharmaceutical company focused on the acquisition, marketing, and late-stage development of specialty acute-care therapeutics, presented at the 14th Annual Healthcare Conference hosted by CIBC World Markets, a strategic business line of the Canadian Imperial Bank of Commerce (NYSE:BCM).

The Company noted that, based on its current product portfolio, full-year 2003 consolidated sales are expected to approximate $65 million with EBITDA at about $25 million. This compares to $16 million in sales and some $5 million in EBITDA achieved during ESP Pharma's first eight months of operations ended December 2002.

John T. Spitznagel, ESP Pharma's Chairman and CEO, said that in January of this year "Our goal was to grow our original (2002) product portfolio to about $40 million" and "to add new products and sales, so that on a pro-forma basis our goal was to complete this year with about $75 million in sales. I am pleased to note, that after nine months of operations in 2003, we expect to exceed substantially our early goals for the year."

Accounting for acquisitions thus far completed in 2003, including the June purchase from Orphan Medical (NASDAQ:ORPH) of the acute-care oncology drug IV Busulfex(R), pro-forma sales for 2003 are expected to exceed $90 million. Meanwhile, organic growth of the Company's original portfolio is now projected at about $50 million for the year, led by exceptionally strong sales of patent-protected Cardene(R) IV which was acquired from Wyeth (NYSE:WYE) in May 2002.

Cardene(R) IV, ESP Pharma's flagship product, is currently the only calcium channel blocker in an IV form approved in the U.S. Annualized sales of Cardene(R) IV have increased approximately fivefold since ESP acquired the product and revitalized its promotional support, the latter being bolstered by the fourth-quarter 2002 deployment of the Company's own hospital sales force which has since more than doubled in size to over 40 reps across the U.S. and Canada.

With regard to the more recently acquired IV Busulfex(R), ESP Pharma's second patent-protected core product, Mr. Spitznagel said, "The product is only now being re-launched with the full support of our sales and marketing strengths." He also noted, "The monthly run rate for the product is accelerating" and that overall growth of IV Busulfex(R) would benefit from foreign market approvals, including the recent approval and launch of the product in Europe.

Looking forward five years, Mr. Spitznagel said, "We intend to be a $500 million company by 2008" and "we intend to accomplish this goal through a combination of organic growth, supplemented by our aggressive acquisition strategy." Additional growth drivers encompass product flow from the development pipeline, including new formulations of Hydralazine for hypertensive crisis, as well as new indications, alternative dosing schedules, and other potential applications for currently promoted core products.

An archived audio webcast of the Company's presentation will be available through Friday, December 12, 2003, at 5:00 PM (PT) and may be accessed by using the link http://www.veracast.com/webcasts/cibcwm/healthcare03/66207526.cfm

About ESP Pharma, Inc.

ESP Pharma is committed to Excellence in Specialty Pharmaceuticals and is dedicated to helping physicians improve patient outcomes in the acute-care setting. Under the leadership of a highly experienced and strong management team, the Company focuses on its Buy and Build, Search and Develop strategy of identifying opportunities to selectively acquire and enhance the market potential of novel, commercially available therapeutics and late-stage development drugs to fulfill unmet market needs. Opportunities for ESP Pharma to acquire product marketing, manufacturing, and development rights are the result of several factors, including industry consolidation and the fact that many existing and developmental drugs cannot meet the increasing revenue thresholds of large pharmaceutical companies. ESP Pharma, a privately held company, has investment support from leading healthcare venture capital and private equity firms: Domain Associates, LLC (http://www.domainvc.com/), Apax Partners, Inc. (http://www.apax.com), New Enterprise Associates (http://www.nea.com), and Thoma Cressey/Equity Partners (http://www.thomacressey.com/). Additional information about ESP Pharma is available on the internet at http://www.ESPPharma.com