UroCor Receives Payment for Termination of PACIS Distribtuion Agreement.Business Editors OKLAHOMA CITY--(BUSINESS WIRE)--Feb. 16, 2001 UroCor, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UCOR UCOR Uniform Code of Operating Rules ) announced today it has entered into an agreement with BioChem Pharma, Inc. terminating the distribution agreement under which UroCor has been distributing the bladder cancer bladder cancer Malignant tumour of the bladder. The most significant risk factor associated with bladder cancer is smoking. Exposure to chemicals called arylamines, which are used in the leather, rubber, printing, and textiles industries, is another risk factor. drug, PACIS PACIS Pacific Asia Conference on Information Systems (TM) (BCG BCG bacille Calmette-Guérin. BCG abbr. 1. bacillus Calmette-Guérin 2. ballistocardiogram BCG, n.pr See bacille Calmette-Guórin. ). Pursuant to the termination agreement, BioChem Pharma paid UroCor $7.0 million. As a result of the payment, UroCor will realize a pretax profit of approximately $4.3 to $4.5 million in excess of its investment related to the distribution agreement. The Company estimates that, net of effective income taxes, the termination will have a positive impact of approximately $.24 to $.26 earnings per share, which will be recorded in the first quarter of 2001. Michael W. George, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of UroCor stated, "As we reported previously, after our June 2000 market launch for PACIS, in late October 2000, we reached BioChem Pharma's capacity to supply PACIS. Subsequently, we determined in discussions with BioChem Pharma that we would be unable to receive increased supplies of the product, and therefore agreed to terminate the distribution agreement." "UroCor's commitment to a focused therapeutics strategy in urology remains strong," George continued, "and we continue to actively explore and evaluate additional licensing opportunities. We were very pleased with the ability of our sales and marketing organization to market a therapeutic product directly to urologists; our initial success reinforces our belief that we can leverage our diagnostics sales presence effectively to provide therapeutic product offerings to urologists." About UroCor UroCor markets directly to Urologists and managed care organizations a comprehensive range of integrated products and services to assist in detecting, diagnosing, treating and managing prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. , bladder cancer, kidney stones Kidney Stones Definition Kidney stones are solid accumulations of material that form in the tubal system of the kidney. Kidney stones cause problems when they block the flow of urine through or out of the kidney. and other complex urologic disorders. The Company's primary focus is helping Urologists improve patient care and outcomes while reducing the total cost of managing these diseases. The Company presently serves approximately one-third of the office-based Urologists in the United States. Statements in this news release that are not strictly historical, including statements as to plans, objectives and future financial performance, are "forward-looking" statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Although UroCor believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that the expectations will prove to be correct. Factors that could cause actual results to differ materially from UroCor's expectations include, among others, competition within the healthcare and medical services industries; the effects of government regulation and reimbursement policies on the healthcare market and the Company, including the possibility of being deemed not to be in compliance with federal or state regulatory requirements; the Company's access to and the market's acceptance of new diagnostic and therapeutic products; the Company's ability to market and distribute diagnostic and therapeutic products profitably; the Company's ability to maintain or expand contractual relationships with managed care organizations; the Company's ability to acquire or develop and implement appropriate management information systems; as well as the risks, uncertainties and other factors described from time to time in the Company's periodic filings with the Securities and Exchange Commission. |
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