Yamanouchi and Pharmacia Amend Celecoxib License Agreement in Japan

Yamanouchi and Pharmacia Amend Celecoxib License Agreement in Japan Tokyo (March 29, 2001) - Yamanouchi Pharmaceutical Co., Ltd. and Pharmacia Corporation announced today the amendment of their license agreement regarding Pharmacia's selective COX-2 specific inhibitor celecoxib (designated as YM177 in Japan). Under the amended agreement, Yamanouchi and Pharmacia K.K., a wholly- owned subsidiary of Pharmacia Corporation, will co-promote celecoxib exclusively in Japan with a single brand name. Pharmacia K.K. will import celecoxib bulk material and Yamanouchi will manufacture the finished celecoxib product. The original license agreement, signed in March 1996 by Yamanouchi and G.D.Searle & Co., stated that two companies would separately market celecoxib in Japan with two different brand names. Toichi Takenaka, Ph.D., President and CEO of Yamanouchi, commented, "The purpose of amending the license agreement is to enable both parties to more effectively compete in the anti-inflammatory drug market. Celecoxib is the world's top selling treatment for arthritis and co-promotion with Pharmacia will significantly enhance our ability to market this promising compound." "We are very pleased with this amended agreement and the opportunity to combine forces with Yamanouchi to bring celecoxib to market in Japan," said Fred Hassan, Chairman and Chief Executive Officer of Pharmacia Corporation. "We are excited about working with Yamanouchi, a company with a track record of excellent performance in Japan." First approved in the United States and launched in 1999 for the treatment of osteoarthritis and adult rheumatoid arthritis, celecoxib (marketed outside Japan as Celebrex® and Celebra®) is the first nonsteroidal anti-inflammatory agent to target only the COX-2 enzyme which plays a role in arthritis pain and inflammation. In 2000, Celebrex® recorded global sales of $ 2.6 billion. In Japan, Yamanouchi and Pharmacia are jointly developing celecoxib for the treatment of rheumatoid arthritis and osteoarthritis. Recently completed late Phase II (Phase II b) studies confirmed the dose response and efficacy of celecoxib compared to placebo and showed no significant difference in the frequency of side effects between celecoxib and placebo. Yamanouchi and Pharmacia are currently preparing to conduct Phase III studies of celecoxib in Japan. Yamanouchi Pharmaceutical Co., Ltd., established in 1923 and headquartered in Tokyo, Japan, is the third largest pharmaceutical company in Japan. Yamanouchi is expanding its business base to Europe, the United States and Asia and employs more than 9,000 people worldwide. As a research-based developer, manufacturer and marketer, Yamanouchi has introduced several world-class drugs to the international market, including the H2 antagonist famotidine, the calcium antagonist nicardipine, and tamsulosin, a treatment for functional symptoms of benign prostatic hyperplasia. Pharmacia Corporation (NYSE: PHA) is a leading global pharmaceutical company created through the merger of Pharmacia & Upjohn with Monsanto Company and its G.D. Searle unit. Pharmacia has a broad product portfolio, a robust pipeline of new medicines, and an annual investment of more than $2 billion in pharmaceutical research and development. Pharmacia Media Pharmacia Analyst Contact: Contact: Paul Fitzhenry Craig Tooman (908) 901-8770 (908) 901-8853 Yamanouchi Contacts: Yutaka Yamada 81-3-3244-3201 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/29/20010329BIT00370/bit0001.doc http://www.bit.se/bitonline/2001/03/29/20010329BIT00370/bit0001.pdf