Sciele Pharma, a Shionogi Company, Terminates Agreement to Acquire Victory Pharma, Inc.

Fri Jul 10, 2009 9:20am EDT

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ATLANTA--(Business Wire)--
Sciele Pharma, Inc. (Head Office: Atlanta, Georgia, USA; CEO and Chairman:
Patrick P. Fourteau; hereafter "Sciele"), a U.S.-based group company of Shionogi
& Co., Ltd. (Head Office: Osaka; President: Isao Teshirogi; hereafter
"Shionogi") and Victory Pharma, Inc. (Head Office: San Diego, California, USA;
President and CEO: Matt Heck; hereafter "Victory"), today announced that Sciele
and Victory Pharma, Inc. have mutually agreed to terminate their previously
announced merger agreement due to the occurrence of an unforeseen development
that occurred after the agreement was signed.

The termination of this merger agreement between Sciele and Victory will have a
minimal impact on Shionogi, and it is expected to have a small impact on
Sciele`s 2009 revenue and earnings guidance. Sciele will continue to focus on
its growth and diversification strategy, which the company initiated three years
ago. Sciele has completed 10 transactions since 2007. An important part of
Sciele`s growth strategy is to license and acquire products in addition to
launching new products from its development pipeline.

About Sciele Pharma, Inc.

Sciele Pharma, Inc., a Shionogi Company, is a pharmaceutical company
specializing in sales, marketing and development of branded prescription
products focused on the therapeutic areas of Cardiovascular, Diabetes, Women`s
Health and Pediatrics. The Company`s Cardiovascular and Diabetes products treat
patients with high cholesterol, hypertension, high triglycerides, unstable
angina and type 2 diabetes; its Women`s Health products are designed to improve
the health and well-being of women and mothers and their babies; and its
Pediatrics products treat allergies, asthma and attention deficit and
hyperactivity disorder (ADHD). Founded in 1992 and headquartered in Atlanta,
Georgia, Sciele employs more than 1,000 people. The Company`s success is based
on placing the needs of patients first, improving health and quality of life,
and implementing its business platform - an Entrepreneurial Spirit, Innovation,
Execution Excellence, Simplicity, and Teamwork. For more information on Sciele,
please visit www.sciele.com.

On October 9, 2008, Shionogi & Co., Ltd. and Sciele Pharma announced the
completion of Shionogi`s acquisition of Sciele. Sciele is now an indirect wholly
owned subsidiary of Shionogi.

About Shionogi & Co., Ltd.

Shionogi & Co., Ltd., headquartered in Osaka, Japan, is a major research-driven
pharmaceutical company dedicated to placing the highest value on patients.
Shionogi`s Research and Development currently targets three therapeutic areas:
Infectious Diseases, Pain, and Metabolic Syndrome. The Company has provided such
innovative medicines as Crestor and Doripenem, which have been successfully
delivered to millions of people who need them. In addition, Shionogi is engaged
in some new research areas such as allergy and cancer. Contributing to the
health of patients around the world through development in these therapeutic
areas is Shionogi`s primary goal. For more details, please visit
www.shionogi.co.jp.

About Victory Pharma, Inc.

Founded in 2004, Victory Pharma, Inc. is a privately-held specialty
pharmaceutical company headquartered in San Diego, California that is focused on
acquiring, developing and marketing products to treat pain and related
conditions. Victory markets its lead product, NAPRELAN® (naproxen sodium)
Controlled-Release Tablets and other pain products to pain management
specialists, rheumatologists, orthopedic surgeons and selected primary care
physicians through its physician office-based field sales force. Further
information regarding Victory Pharma is available at www.victorypharma.com.

NAPRELAN® is a trademark of Elan Corporation, plc.

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are
based on expectations in light of the information currently available,
assumptions that are subject to risks and uncertainties which could cause actual
results to differ materially from these statements.Risks and uncertainties
include general domestic and international economic conditions such as general
industry and market conditions, and changes of interest rate and currency
exchange rate.These risks and uncertainties particularly apply with respect to
product-related forward-looking statements.Product risks and uncertainties
include, but are not limited to, completion and discontinuation of clinical
trials; obtaining regulatory approvals; claims and concerns about product safety
and efficacy; technological advances; adverse outcome of important litigation;
domestic and foreign healthcare reforms and changes of laws and regulations.Also
for existing products, there are manufacturing and marketing risks, which
include, but are not limited to, inability to build production capacity to meet
demand, unavailability of raw materials and entry of competitive products.The
company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise.

Company Name: Shionogi & Co., Ltd.
Representative: Isao Teshirogi, President
Securities Code: 4507; TSE 1st Section / OSE 1st Section
For Inquiries, Contact: Noriyuki Kishida, General Manager, Corporate Communications Dept.
Telephone: +81 - (6) 6202-2161

Sciele Pharma, Inc.
Joseph T. Schepers, +1-678-341-1401
ir@sciele.com
or
Shionogi & Co., Ltd.
Corporate Communications Department, +81-6-6209-7885
Fax: +81-6-6229-9596