NeoPharm, Inc. Announces Results from 2006 Annual Meeting of Shareholders.

WAUKEGAN, Ill. -- NeoPharm, Inc. (Nasdaq:NEOL) today announced that the entire Board of Directors was re-elected by the Company's shareholders at today's 2006 Annual Meeting of Shareholders, to serve until the 2007 Annual Meeting of Shareholders.

The members of the NeoPharm Board of Directors are:

--Guillermo A. Herrera - President & CEO, NeoPharm, Inc.

--Frank C. Becker - President & Partner, Greenfield Chemical

--Ronald G. Eidell - Sr. Vice President-Finance, Bally Total Fitness Holding Corp., Partner-Tatum LLC.

--Bernard A. Fox, PhD - Chief of the Laboratory of Molecular and Tumor Immunology, Earle Chiles Research Institute, Providence Portland Medical Center 

--Paul E. Freiman - President & CEO, Neurobiological Technologies, Inc.

--Erick E. Hanson - Executive Vice President, Integrity Healthcare

--John N. Kapoor, PhD - President, EJ Financial Enterprises, Inc.

--Kaveh T. Safavi, MD, JD - Sr. Vice President & Chief Medical Officer, Solucient, LLC

Other matters also approved by the shareholders included: adoption of the NeoPharm, Inc. Employee Stock Purchase Plan; adoption of the NeoPharm, Inc. 2006 Equity Incentive Plan; and ratification of the appointment of KPMG LLP as the Company's independent registered public accounting firm for 2006.

Additionally, at a regularly scheduled Board of Directors meeting that followed immediately after the Annual Meeting, the Board of Directors unanimously elected John N. Kapoor, PhD as non-executive Chairman of the Board, to serve until the Company's 2007 Annual Meeting of Shareholders. Dr. Kapoor has served as a Director on the Board since the Company was founded in 1990.

NeoPharm's Commitment to Oncology

NeoPharm employees share a common goal: bringing hope to cancer patients and their families through the research and development of new cancer drugs and therapies. The Company's oncology portfolio is built on two novel, proprietary platforms: a tumor-targeting platform, and the NeoLipid(R) Liposomal Drug Delivery platform. Through its research and clinical studies, as well as its work with physicians, scientists, and advocacy groups, NeoPharm is helping to enhance the lives of cancer patients.

About NeoPharm, Inc.

NeoPharm, Inc., based in Waukegan, Illinois, is a publicly traded biopharmaceutical company dedicated to the research, development and commercialization of new and innovative cancer drugs for therapeutic applications. Additional information, including ongoing clinical trials, can be obtained by visiting NeoPharm's Web site at www.neopharm.com.

Forward Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends," "hopes," "anticipates," "believes," "could," "may," "evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to, any statements relating to the Company's drug development program, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in financing, development, testing, obtaining regulatory approval, production and marketing of the Company's drug and non-drug compounds, uncertainty regarding the availability of third party production capacity, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug and non-drug compounds, that could slow or prevent products coming to market, uncertainty regarding the Company's ability to market its drug and non-drug products, the uncertainty of patent protection for the Company's intellectual property or trade secrets, and other risks detailed from time to time in filings the Company makes with the Securities and Exchange Commission including its annual reports on Form 10-K and quarterly reports on Forms 10-Q. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on these forward-looking statements as a prediction of actual future results.