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HAUSER ANNOUNCES THAT ITS SUPPLY AGREEMENT WITH BRISTOL-MYERS/SQUIBB FOR PACLITAXEL (TAXOL) WILL NOT BE EXTENDED

 BOULDER, Colo., Aug. 12 /PRNewswire/ -- Hauser Chemical Research Inc. (NASDAQ: HAUS) announced today that it has received notice from Bristol-Myers/Squibb Co. (Bristol) (NYSE: BMY) that the Supply Agreement between the parties will not be extended beyond the initial contract term which ends on Aug. 14, 1994. That Agreement provides the terms of the relationship under which Hauser supplies Bristol with Pacific yew bark, Taxus resin and bulk paclitaxel (Taxol). That relationship will continue through the end of the initial contract term. Production and delivery schedules for bulk paclitaxel (Taxol) through August 1994 remain unchanged. Hauser and Bristol continue to discuss a number of near-term and long-term TAXOL-related projects as well as other projects.
 According to Dr. Dean P. Stull, Hauser's chief executive officer, "We have met the challenge for production of paclitaxel (Taxol) and have helped make this important drug a reality today. Three years ago our research emphasis shifted toward semi-synthetic production of paclitaxel, our proprietary taxane analogs, and the needed starting materials that will be produced from cultivated raw materials. We will be involved in these new areas in the future under market conditions that have changed since our original Supply Agreement was negotiated. Our technology leadership is stronger now than it was three years ago."
 The company will continue to produce GMP paclitaxel (Taxol) and make it available in 1994 to other interested pharmaceutical companies including generic suppliers. The company currently is selling limited quantities of a variety of taxanes, including 10-DAB, an important intermediate in semi-synthetic production of paclitaxel (Taxol).
 In addition, the company is strongly committed to the commercial development of its proprietary analogs as new generation anti-cancer compounds. Hauser intends to accelerate the pre-clinical testing of these analogs.
 Hauser Chemical Research is the leader in specialty products from natural sources using its proprietary technologies. These products include natural flavor extracts for the food and beverage industry as well as natural compounds for pharmaceutical, cosmetic and veterinary applications. The company also provides interdisciplinary laboratory testing services, chemical engineering services and contract research and development through its Hauser Laboratories Division. The company is based in Boulder.
 -0- 8/12/93
 /CONTACT: Dean P. Stull or William E. Paukert of Hauser Chemical Research, 303-443-4662/
 (HAUS BMY)


CO: Hauser Chemical Research Inc.; Bristol-Myers/Squibb Co. ST: Colorado IN: MTC SU:

BB -- DV008 -- 2325 08/12/93 17:36 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
Words:392
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