Spectrum Pharmaceuticals Added to the Russell Global, Russell 3000 and Russell 2000 Indexes

IRVINE, Calif.--(Business Wire)--
Spectrum Pharmaceuticals (NasdaqGM:SPPI), a commercial-stage biotechnology
company with a focus in oncology, today announced that Russell Investments has
added Spectrum Pharmaceuticals to the Russell Global®, the Russell 3000® and the
Russell 2000® Indexes. Russell Investments produces a family of market
cap-weighted U.S. equity indexes. All U.S. indexes are subsets of the Russell
3000E Index, which represents approximately 99% of the U.S. equity market.

"We are pleased to be a component of the Russell indexes," said Rajesh C.
Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum
Pharmaceuticals. "Since our inception, we have been focused on building
sustainable shareholder value for our shareholders. We believe that our addition
to the Russell indexes is a direct result of this focus."

Over the past 25 years, Russell's innovative methodology has helped their
indexes become the benchmarks most used by institutional investors. Currently,
institutional investment professionals responsible for over $4.3 trillion in
assets use Russell indexes to guide their portfolios.

In order to maintain indexes that are truly representative of global equity
markets, Russell annually rebalances the entire Russell family of indexes. On
the last trading day in May, Russell ranks the 4,000 largest U.S. stocks by
market capitalization. After the initial list of 4,000 eligible participants is
determined, the shares outstanding for each company are adjusted for corporate
cross-ownership and large private holdings. Therefore, the Russell Indexes
include only the investable portion of the universe-that segment in which
investors can freely transact shares.

Total returns data for the Russell 3000 and other Russell Indexes is available
at http://www.russell.com/Indexes/performance/default.asp.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals is a commercial-stage biotechnology company with a
focus in oncology. The Company`s strategy is comprised of acquiring and
developing a broad and diverse pipeline of late-stage clinical and commercial
products; establishing a commercial organization for its approved drugs;
continuing to build a team with people who have demonstrated skills, passion,
commitment and have a track record of success in its areas of focus; and,
leveraging the expertise of partners around the world to assist it in the
execution of its strategy. For more information, please visit the Company`s
website at www.spectrumpharm.com.

Forward-looking statement - This press release may contain forward-looking
statements regarding future events and the future performance of Spectrum
Pharmaceuticals that involve risks and uncertainties that could cause actual
results to differ materially. These statements include but are not limited to
statements that relate to our business and its future, Spectrum's ability to
identify, acquire, develop and commercialize a broad and diverse pipeline of
late-stage clinical and commercial products, establishing a commercial
organization for our approved drugs, continuing to build our team, leveraging
the expertise of partners around the world to assist us in the execution of our
strategy, building sustainable shareholder value for our shareholders and any
statements that relate to the intent, belief, plans or expectations of Spectrum
or its management, or that are not a statement of historical fact. Risks that
could cause actual results to differ include the possibility that our existing
and new drug candidates, may not prove safe or effective, the possibility that
our existing and new drug candidates may not receive approval from the FDA, and
other regulatory agencies in a timely manner or at all, the possibility that our
existing and new drug candidates, if approved, may not be more effective, safer
or more cost efficient than competing drugs, the possibility that our efforts to
acquire or in-license and develop additional drug candidates may fail, our lack
of revenues, our limited marketing experience, our dependence on third parties
for clinical trials, manufacturing, distribution and quality control and other
risks that are described in further detail in the Company's reports filed with
the Securities and Exchange Commission. We do not plan to update any such
forward-looking statements and expressly disclaim any duty to update the
information contained in this press release except as required by law.

SPECTRUM PHARMACEUTICALS, INC.® is a registered trademark of Spectrum, TURNING
INSIGHTS INTO HOPE and the Spectrum Pharmaceutical logos are trademarks owned by
Spectrum Pharmaceuticals, Inc.

Information regarding Russell Investments has been obtained from Russell
Investments and not independently verified by Spectrum.

© 2009 Spectrum Pharmaceuticals, Inc. All Rights Reserved.

Spectrum Pharmaceuticals
Russell Skibsted, 949-788-6700 ext. 234
Sr. Vice President & Chief Business Officer
Paul Arndt, 949-788-6700 ext. 216
Senior Manager, Investor Relations

Copyright Business Wire 2009