Zila Rejects Matrixx Claims.News Editors/Business Editors/Health/Medical Writers PHOENIX--(BUSINESS WIRE)--April 16, 2003 Zila, Inc. (Nasdaq:ZILA)--On April 4, 2003 Matrixx Initiatives, Inc. ("Matrixx") commenced arbitration proceedings against the Company's Zila Swab Technologies, Inc. subsidiary ("ZST ZST Zone Standard Time ZST Zeta Sedimentation Rate ZST Zinc Sulfide Tracer ") and filed a claim against the Company and ZST in the Superior Court of Arizona seeking a temporary restraining order temporary restraining order: see injunction. ("TRO TRO - tail recursion optimisation "). Under its arbitration claim, which seeks monetary damages, Matrixx alleges that ZST breached certain of its obligations by failing to produce requested levels of swabs for Matrixx under a swab manufacturing contract and by raising its prices. In the TRO action Matrixx seeks to require ZST to produce at requested levels and at the former prices. Zila and ZST believe the claims are wholly without merit and intend to vigorously defend these actions. It is Zila's policy to aggressively pursue all appropriate courses of action to protect the interest of Zila and its shareholders. About Zila Zila, Inc., headquartered in Phoenix, is an international provider of healthcare and biotechnology products for dental/medical professionals and consumers. Zila has three business units: Zila Biotechnology, a research, development and licensing business specializing in pre-cancer/cancer detection through its patented Zila(R) Tolonium Chloride tolonium chloride see toluidine blue. and OraTest(R) technologies. Zila Pharmaceuticals, "The Oral Soft Tissue Experts" marketing ViziLite(TM) oral examination kits, Zilactin(R) OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). oral care products, and Peridex(R) prescription periodontal periodontal /peri·odon·tal/ (per?e-o-don´t'l) 1. pertaining to the periodontal ligament or periodontium. 2. near or around a tooth. per·i·o·don·tal adj. 1. rinse. Zila Nutraceuticals, manufacturer and marketer of Ester-C(R), a branded, superior efficacy nutrition product. For more information about Zila, visit www.zila.com. 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. These forward-looking statements are based largely on Zila's expectations or forecasts of future events, can be affected by inaccurate assumptions and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the Company's control. Therefore, actual results could differ materially from the forward-looking statements contained herein. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs, including litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . There can be no assurance that the forward-looking statements contained in this press release will, in fact, transpire or prove to be accurate. For a more detailed description of these and other cautionary factors that may affect Zila's future results, please refer to Zila's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-K/A for its fiscal year ended July 31, 2002, and its Form 10-Q Form 10-Q See 10-Q. for the quarter ended January 31, 2003, filed with the Securities and Exchange Commission. |
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