Stromedix’s lead candidate, STX-100, is a novel humanized monoclonal antibody that selectively disrupts the TGF-beta pathway, which plays a central role in fibrotic disease. STX-100 exhibited significant anti fibrotic activity in preclinical animal models of fibrotic disease and demonstrated an attractive safety and tolerability profile in a Phase 1 trial. Stromedix has also identified a series of clinical biomarkers that reflects the biological activity of STX-100. STX-100 is entering a Phase 2 trial in patients with idiopathic pulmonary fibrosis (IPF), a debilitating and almost uniformly fatal disease in which patients experience progressive difficulty breathing due to fibrosis (scarring) of the lung. More than 200,000 patients in the United States and Europe have IPF, and there is no FDA-approved treatment for the disease at this time. STX-100 has potential in several additional fibrotic indications given its selective mechanism of action. In addition to STX-100, Stromedix has a preclinical compound that may have utility for the treatment of injury due to inflammation.

“Fibrotic organ failure, and in particular IPF, is a terrible disease with a high mortality rate, and there are no effective treatments at this time,” said Douglas E. Williams, EVP, R&D of Biogen Idec. “We believe STX-100 has the potential to be a best-in-class therapy and it is an excellent strategic fit with our focus on highly differentiated programs with the potential to make a real difference for patients. The Phase 2 program complements our scientific expertise and advances our research and development efforts in immunology. We are pleased to welcome Mike and his team back to Biogen Idec to drive STX-100’s continued development. Their work in advancing STX-100 through Phase 1 and developing biomarkers to inform upcoming clinical trials increases the likelihood of bringing a much-needed therapy to patients. This acquisition brings together our scientific strengths and capabilities with a clear goal of providing highly effective
therapies to patients suffering from fibrosis.”

“With a well-established understanding of the fundamental biology and tremendous unmet medical need, fibrosis is one of the most exciting and dynamic areas of drug development today,” said Michael Gilman, Ph.D., Founder and CEO of Stromedix, who, before founding Stromedix, led Biogen Idec’s research organization from 2000 to 2005. “We appreciate Biogen Idec’s focus in immunology and their tremendous international R&D and commercial capabilities. By joining forces, we expect to accelerate the development of STX-100 and other promising early-stage drug candidates. This begins a new chapter for all of us at Stromedix, and we look forward to a bright future as part of Biogen Idec.”

The transaction is subject to customary closing conditions.

About Fibrosis and Organ Failure
Fibrosis is wound repair gone awry. It results from the body’s attempt to repair chronic tissue injury. Ongoing cycles of injury and repair, often playing out over decades, lead to accumulation of scar tissue in affected organs and disruption of normal tissue architecture and function. Ultimately, the organ fails. Fibrosis is the final common pathway in virtually all forms of chronic organ failure, including kidney, liver and lung, and affects tens of millions of patients in the United States. Nearly 45 percent of all deaths in the developed world are attributable to some type of chronic fibrotic disease. Moreover, the biology of fibrosis is similar regardless of cause – viral, chemical, physical or inflammatory. Fibrosis results from the excessive activity of fibroblasts, in particular a differentiated form known as the myofibroblast. The biology of these cells is well understood, and there is a consensus among experts that pharmacological attenuation of myofibroblast activity ought to slow or perhaps even reverse disease progression, thereby preserving organ function and prolonging a healthy life.

About STX-100
STX-100 is a novel, humanized monoclonal antibody that selectively targets integrin αvβ6. STX-100 binds to αvβ6, preventing αvβ6 from binding to latent (or inactive) TGFβ complex and converting it to active TGFβ, the central driver of fibrosis. STX-100 has exhibited significant anti-fibrotic activity in preclinical animal models. In August 2010, the FDA granted orphan drug designation to STX-100 for the treatment of IPF. Stromedix has completed a Phase 1 clinical trial of STX-100 and is currently initiating a Phase 2 trial in patients with IPF. Stromedix believes that STX-100 has potential therapeutic application across a broad number of fibrotic diseases.

About Biogen Idec
Through cutting-edge science and medicine, Biogen Idec discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders. Founded in 1978, Biogen Idec is the world’s oldest independent biotechnology company. Patients worldwide benefit from its leading multiple sclerosis therapies, and the company generates more than $5 billion in annual revenues. For product labeling, press releases and additional information about the company, please visit www.biogenidec.com.

About Stromedix
Stromedix is a privately held biotechnology company based in Cambridge, Massachusetts, focused on innovative therapies for fibrosis and organ failure. Stromedix’s investors include Atlas Venture, New Leaf Venture Partners, Bessemer Venture Partners, Red Abbey Venture Partners, and Frazier Healthcare. For more information on Stromedix, please visit www.stromedix.com.

Biogen Idec Safe Harbor Statement
This press release contains forward-looking statements, including statements about product development and commercialization. These forward-looking statements may be accompanied by such words as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “will” and other words and terms of similar meaning. You should not place undue reliance on these statements. Drug development and commercialization involve a high degree of risk. Factors which could cause actual results to differ materially from our current expectations include the risk that adverse safety events may occur, regulatory authorities may require additional information or may fail to approve any potential new therapy, reimbursement for our products may be limited or unavailable, we may encounter problems with our manufacturing processes, we may be unable to adequately protect our intellectual property rights, and the other risks and uncertainties that are described in the Risk Factors section of our most recent annual or
quarterly report and in other reports Biogen Idec Inc. has filed with the SEC. These statements are based on current beliefs and expectations and speak only as of the date of this press release. We do not undertake any obligation to publicly update any forward-looking statements.
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“Celgene and Avila are uniquely matched, both strategically and scientifically,” said Katrine Bosley, Avila’s Chief Executive Officer. “Celgene’s global leadership in hematology and emerging franchise in immune-inflammatory diseases will accelerate and expand the clinical development of our Btk inhibitor program. Equally important, we value the high standards of creativity and rigor of Celgene’s scientists. We believe working together may accelerate the advancement of more innovative medicines from the Avilomics platform.”

The transaction has been approved by the Board of Directors of each company and is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Under the terms of the merger agreement, Celgene will acquire Avila Therapeutics, Inc. for $350 million in cash, plus up to $195 million for milestones contingent upon the development and regulatory approval of AVL-292, as w ell as up to $380 million in potential milestone payments contingent upon the development and approval of candidates generated from the Avilomics platform. The acquisition of Avila Therapeutics, Inc. will be accounted for as a p urchase transaction that Celgene expects to be completed during the first quarter of 2012. The Company anticipates the acquisition will be neutral to 2012 non-GAAP diluted earnings guidance.

About Celgene
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of novel therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. For more information, please visit the company’s Web site
at www.celgene.com.
About Avila Therapeutics™, Inc.
Avila Therapeutics is a clinical‐stage biotechnology company focused on t he design and development of targeted covalent drugs to achieve best‐in class outcomes. The company’s product pipeline has been built using its proprietary Avilomics™ platform and is currently focused on c ancer, viral infection and autoimmune disease. Avila’s most advanced product candidate, AVL‐292, a potential treatment for cancer and autoimmune diseases, is currently in Phase 1 clinical testing. Avila is funded by leading venture capital firms: Abingworth, Advent Venture Partners, Atlas Venture, Novartis Option Fund, and Polaris Venture Partners. For additional information, please visit http://www.avilatx.com.

About AVL‐292 and Bruton’s Tyrosine Kinase (Btk)
AVL‐292 is a novel, orally available, covalent drug that inhibits Bruton’s tyrosine kinase (Btk). Inhibition of Btk is a promising new approach to treatment of diseases that are driven by B cells, including certain hematologic cancers such as non‐Hodgkin’s lymphoma and B cell chronic lymphocytic leukemia and autoimmune diseases such as rheumatoid arthritis. AVL‐292 selectively and covalently bonds to Btk to inactivate and silence its activity. This mechanism of action confers greater target selectivity and a longer duration of action than is typical of conventional small molecule drugs. In preclinical studies, AVL‐292 was efficacious in a variety of animal disease models. AVL‐292 is in clinical development and has successfully completed two Phase 1a clinical studies to date.

About Targeted Covalent Drugs
Targeted covalent drugs are new small-molecule medicines that have the unique opportunity not simply to inhibit disease-causing proteins, but to “silence” them completely. This is because targeted covalent drugs do not merely “bind” to a protein, but they form a durable “bond,” which shuts down the protein’s activity throughout the life of the protein leading to two primary benefits; precise selectivity and retained efficacy against mutations. Avila is the first company to
design and develop targeted covalent drugs robustly, systematically and across the vast majority of target classes. This is enabled by Avila’s proprietary Avilomics™ platform.

Forward-Looking Statements
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words “expects,” ”anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. We undertake no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in
our Annual Report on Form 10-K and our other reports filed with the Securities and Exchange Commission.
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The expected acquisition will create the clear market leader in small cell base station solutions for next generation mobile broadband communications infrastructure, an explosive growth market. Research firm Mobile Experts LLC predicts small cell base station shipments will grow to 24 million units by 2016, creating a market for alternative cells, which could exceed the macrocell market in terms of transceiver unit shipments during the next four years.

Together, Mindspeed and Picochip will offer the most comprehensive portfolio of base station semiconductor solutions on the market, from residential to enterprise to pico/metro applications. Through this timely combination, Mindspeed’s enhanced product roadmap for single- and multi-mode 3G/4G solutions will enable it to capitalize on the rapid acceleration of the small cell wireless base station market, while also addressing comprehensive support for all 3G and 4G global air interface standards. Management estimates the total addressable market for the combined entity will grow to $3.0 billion by 2016. Management also believes technology synergies, operational synergies and opportunities for cross-selling products within each company’s customer base are substantial.

For Picochip, Mindspeed will pay cash of $27.5 million and approximately 5.19 million in new shares of Mindspeed common stock, amounting to approximately 15 percent of outstanding Mindspeed shares, for a total of $24.3 million, based upon the closing price of Mindspeed’s common stock on January 4, 2012. The cash portion of the initial purchase price will be financed in part with bank debt. The terms also include an earnout provision, whereby the purchase price can increase by up to $25 million, contingent on the achievement of certain milestones. The earnout, which is payable in the first calendar quarter of 2013, may be paid in cash, Mindspeed common stock or a combination thereof, at Mindspeed’s discretion.

The transaction has been approved by Mindspeed’s and Picochip’s boards of directors and is subject to certain closing conditions. The transaction is expected to close in the first calendar quarter of 2012. Mindspeed currently expects the acquisition, inclusive of anticipated synergies, to be accretive to non-GAAP earnings per share in the second half of calendar 2012.

“Our acquisition of Picochip establishes our position as a global leader in wireless infrastructure semiconductor solutions for next generation mobile broadband communications,” said Raouf Y. Halim, chief executive officer of Mindspeed. “It is a great strategic fit for several reasons. First, it positions Mindspeed as the clear leader in small cell base station technology with the industry’s broadest small cell product offering, addressing a significantly expanded market opportunity of $3.0 billion by 2016. Second, it enhances our competitive position as we join our respective 3G/4G technologies to offer single- and multi-mode solutions that we believe will provide us a time-to-market and product performance advantage relative to competitors. Third, it gives us the scale to lead the industry’s move toward fixed/mobile broadband convergence; a trend which we believe will drive revenue and earnings growth for Mindspeed in the future.”

Nigel Toon, chief executive officer and president of Picochip, stated, “Mindspeed is the ideal acquirer for us. Together, we have valuable technology and customer synergies, given Picochip’s carrier-qualified 3G wireless technology leadership with over 70 percent market share in 3G/high-speed packet access (HSPA) and Mindspeed’s proven pathway as the long-term evolution (LTE) small cell pioneer with the Transcede® product family. Our combined resources create one of the largest SoC development groups in the wireless infrastructure sector with complementary intellectual property scale and expertise to deliver the solutions that this fast-moving market demands.”

Raymond James & Associates, Inc. is acting as Mindspeed’s financial advisor, and Wilson Sonsini Goodrich & Rosati, P.C. is serving as Mindspeed’s legal advisor. Barclays Capital is acting as Picochip’s financial advisor and Fenwick & West LLP is serving as Picochip’s legal advisor.

“As a leader in rare diseases, this partnership is another way for Shire to ensure that we expand into new disease areas and continue to apply cutting edge technologies in this space,” said Philip J. Vickers, Senior Vice President, Research and Development, Shire. “Working with an organization like Atlas provides us with a new source of external expertise that is complementary to our internal capabilities and has a clear focus on Shire’s goal of bringing innovative therapies to patients suffering from rare diseases worldwide.”

The creative alliance structure provides an opportunity early in the venture process to utilize all of Shires capabilities in rare diseases from research to commercialization, while leveraging the extensive Atlas network and experience in company formation. Under the agreement, professionals from both Shire and Atlas will be dedicated to work closely together to advance the collaboration effort.

“The partnership with Shire is truly synergistic and leverages our individual strengths to create and fund new startups around high potential medical science early in the R&D cycle,” said Dr. Bruce Booth, Atlas Venture partner.  “There is an unmet need for the discovery and development of rare disease therapeutics and we are pleased to partner with a leader in this space.”

Additional terms of the agreement are not being disclosed.

About Atlas Venture

Atlas Venture is a leading early-stage international venture capital firm that invests in technology and life sciences businesses. Since inception in 1980, its partners have helped build over 350 companies in more than 16 different countries.  For more information visit Atlas’ website at www.atlasventure.com.

About Shire PLC

Shire’s strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician.  Shire focuses its business on attention deficit hyperactivity disorder, human genetic therapies, gastrointestinal diseases and regenerative medicine as well as opportunities in other therapeutic areas to the extent they arise through acquisitions.  Shire’s in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights.  Shire believes that a carefully selected and balanced portfolio of products with strategically aligned and relatively small-scale sales forces will deliver strong results. For further information on Shire, please visit the Company’s website: www.shire.com.

“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Statements included herein that are not historical facts are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, the Company’s results could be materially adversely affected. The risks and uncertainties include, but are not limited to, risks associated with: the inherent uncertainty of research, development, approval, reimbursement, manufacturing and commercialization of the Company’s Specialty Pharmaceuticals, Human Genetic Therapies and Regenerative Medicine products, as well as the ability to secure new products for commercialization and/or development; government regulation of the Company’s products; the Company’s ability to manufacture its products in sufficient quantities to meet demand; the impact of competitive therapies on the Company’s products; the Company’s ability to register, maintain and enforce patents and other intellectual property rights relating to its products; the Company’s ability to obtain and maintain government and other third-party reimbursement for its products; and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission.

Verizon plans to combine CloudSwitch, a privately held company based in Burlington, Mass., with its Terremark IT services subsidiary, further accelerating the company’s global cloud strategy by enhancing Verizon’s hybrid cloud and cloud-to-cloud capabilities.

CloudSwitch brings Verizon breakthrough software that enables enterprises to more easily and securely move applications, or workloads, between company data centers and the cloud without changing the application or the infrastructure layer – eliminating a key barrier to widespread cloud adoption.

With CloudSwitch’s technology, enterprises gain new flexibility and greater control in moving to and from the cloud, while extending security over applications and data. In addition, enterprise applications remain tightly integrated and can be managed as if they are running locally. When combined with Terremark’s advanced IT and security capabilities, this technology further enables total enterprise-class cloud solutions (private-to-public, public-to-public and hybrid) across the globe.

“The cloud market is a rapidly growing opportunity, with very real benefits both for our business customers and the consumers they serve,” said Bob Toohey, president of Verizon’s global enterprise unit. “With the acquisition of CloudSwitch, Verizon has taken another step forward in defining the enterprise cloud.”

John McEleney, CEO of CloudSwitch, said: “By joining Verizon, we will be able to deliver a solution that combines our software with the market-leading infrastructure cloud play. Our founding vision has always been to create a seamless and secure federation of cloud environments across enterprise data centers and global cloud services. Together, we will be able to provide enterprises with an unmatched level of flexibility, scalability and control in the cloud with point-and-click simplicity. This will go a long way in helping achieve widespread adoption of the cloud especially when managing complex workloads.”

Verizon, through its Terremark subsidiary, offers advanced enterprise-class IT, cloud and security services on a global scale. Terremark provides customers with the ability to improve IT infrastructure and boost application performance in today’s complex and dynamic business environment. Visit the Verizon IT Solutions & Hosting website for more information.

About CloudSwitch
CloudSwitch delivers the enterprise gateway to the cloud. CloudSwitch’s innovative software appliance enables enterprises to run their applications in the right cloud computing environment—securely, simply and without changes. With CloudSwitch, applications remain tightly integrated with enterprise data center tools and policies, and can be moved easily between different cloud environments and back into the data center based on the requirements of the business. For more information about CloudSwitch, please visit www.cloudswitch.com and follow on Twitter at www.twitter.com/cloudswitchcom.

About Verizon
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with more than 106 million total connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company, Verizon employs a diverse workforce of nearly 196,000 and last year generated consolidated revenues of $106.6 billion. For more information, visit www.verizon.com.

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A registration statement relating to these securities was declared  effective by the Securities and Exchange Commission on July 28, 2011.   The offering of these securities is being made only by means of a  prospectus, copies of which may be obtained from: Stifel, Nicolaus &  Company, Incorporated, One Montgomery Street, Suite 3700, San  Francisco, California 94104, or by calling (415) 364-2720; Cowen and  Company, LLC c/o Broadridge Financial Services, 1155 Long Island Avenue,  Edgewood, NY,11717, Phone (631) 274-2806 / Fax (631) 254-7140; or JMP  Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco, CA  94111, or by calling (415) 835-8985 .

This press release shall not constitute an offer to sell or the  solicitation of an offer to buy the securities, nor shall there be any  sale of the securities in any state or jurisdiction in which such offer,  solicitation or sale would be unlawful prior to the registration or  qualification under the securities laws of such state or jurisdiction.

About Horizon Pharma
Horizon Pharma, Inc. is a biopharmaceutical company that is developing  and commercializing innovative medicines to target unmet therapeutic  needs in arthritis, pain and inflammatory diseases.  For more  information, please visit www.horizonpharma.com.

Icera has more than 550 patents granted or pending worldwide, and its high speed wireless-modem products have been approved by more than 50 carriers across the globe. By combining the companies’ products and technologies, including NVIDIA’s Tegra processor, NVIDIA will enhance its position as a leading player in the growing mobile market.

The acquisition, for $367 million in cash, has been approved by both companies’ boards of directors and is expected to be completed, subject to customary closing conditions, in approximately 30 days. The transaction is expected to be slightly dilutive on an operating basis through the first half of calendar 2012, and accretive on an operating basis in the second half of calendar 2012. This expectation does not take into account significant revenue synergies that the companies anticipate.

By offering the two main processors used in smartphones (the application processor and baseband processor), the combined company will help OEM customers both improve their time to market and deliver the requirements of next-generation mobile computing.  NVIDIA will also have approximately doubled its revenue opportunity within each device.

The market for baseband processors is one of the fastest growing segments of the technology industry, worth an estimated $15 billion a year.  Icera will be able to leverage NVIDIA’s momentum in the smartphone and tablet markets to capitalize on this growth.

CEO Quotes
‪“This is a key step in NVIDIA’s plans to be a major player in the mobile computing revolution,” said Jen-Hsun Huang, President and CEO of NVIDIA. “Adding Icera’s technology to Tegra gives us an outstanding platform to support the industry’s best phones and tablets.

“Icera is a perfect fit for NVIDIA. Our businesses are complementary. Icera has the right team, with a strong, proven track record. And their nimble, entrepreneurial, engineering-focused culture mirrors our own,” he continued.

Huang added that NVIDIA intends to continue to collaborate with its existing baseband partners and respect its customers’ preferences in combining application and baseband processors.

Stan Boland, President and CEO of Icera, said, “NVIDIA’s Tegra processor has the most impressive roadmap in the industry, and it is an ideal match for Icera. As part of NVIDIA, we will be able to reach a broader market. Our team has collaborated closely with NVIDIA for several years on a range of projects, and we’re delighted to be joining forces.”

Background on Icera

Icera is a pioneer in next-generation, multi-protocol wireless baseband processors with RF components. Its technology scales from 2G to 4G networks, using a custom-built, ultra-low-power processor. Because the baseband is software-based, manufacturers can develop multiple products from a common platform, reduce development costs, accelerate time to market and secure a route to support future baseband standards.

Icera’s third-generation Livanto line of chipsets delivers the industry’s fastest data rates, cuts user wait times, reduces battery drain and supports multiple standards on the same hardware. And its forthcoming Espresso®450 and Espresso®500 line of platforms provides industry-leading performance for 2G, 3G and 4G networks, low-power optimization for voice and high-speed data, and the industry’s smallest form factor. Its portfolio of products will expand significantly in the near future.

Founded in 2002 and based in Bristol, England, the company has approximately 300 employees in seven countries in Europe and Asia, as well as the U.S.  It was established by a group of senior executives with strong, shared backgrounds in microprocessor design and cellular communications.

About NVIDIA

NVIDIA (NASDAQ: NVDA) awakened the world to the power of computer graphics when it invented the GPU in 1999. Since then, it has consistently set new standards in visual computing with breathtaking, interactive graphics available on devices ranging from tablets and portable media players to notebooks and workstations. NVIDIA’s expertise in programmable GPUs has led to breakthroughs in parallel processing which make supercomputing inexpensive and widely accessible. The Company holds more than 1,800 patents worldwide, including ones covering designs and insights that are essential to modern computing. For more information, see www.nvidia.com.

Horizon Pharma, Inc., a biopharmaceutical company developing and commercializing innovative medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases, announced today that the U.S. Food and Drug Administration (FDA) has approved DUEXIS®, (ibuprofen/famotidine) a novel tablet formulation containing a fixed-dose combination of ibuprofen (800 mg) and famotidine (26.6 mg).  The FDA approval was supported by data from the pivotal REDUCE-1 and REDUCE-2 studies, which showed patients taking DUEXIS experienced significantly fewer upper gastrointestinal ulcers compared to patients receiving ibuprofen alone.

“We look forward to providing DUEXIS to the many patients suffering from osteoarthritis and rheumatoid arthritis, as it provides a new treatment option for those who may be at risk for upper gastrointestinal ulcers stemming from chronic NSAID use,” said Timothy P. Walbert, chairman, president and chief executive officer of Horizon Pharma.  “The approval of DUEXIS is a transformative event for Horizon Pharma, representing our first U.S. approval.  We would like to thank the patients and clinical investigators who participated in the pivotal REDUCE-1 and REDUCE-2 trials.”

DUEXIS was studied in more than 1,500 patients with mild-to-moderate pain or arthritis.  The primary endpoint of the REDUCE-1 study was the reduction in incidence of gastric ulcers during the six month treatment period.  The primary endpoint of the REDUCE-2 study was the reduction in incidence of upper gastrointestinal (defined as gastric and/or duodenal) ulcers during the six month treatment period.  In REDUCE-1, DUEXIS demonstrated a statistically significant reduction in the incidence of gastric ulcers versus treatment with ibuprofen alone (8.7% versus 17.6%).  In REDUCE-2, DUEXIS demonstrated a statistically significant reduction in the incidence of upper gastrointestinal ulcers versus treatment with ibuprofen alone (10.5% versus 20.0%).

The most common adverse reactions (≥1% and greater than ibuprofen alone) were nausea, diarrhea, constipation, upper abdominal pain and headache.  Overall, the discontinuation rate in the REDUCE-1 and REDUCE-2 studies due to adverse events for patients receiving DUEXIS and ibuprofen alone were similar.

“The clinical data showed that DUEXIS helped reduce the incidence of upper gastrointestinal ulcers, which should be welcome news for physicians and patients concerned about the gastrointestinal impact of NSAID use,” said Michael Schiff, M.D., Clinical Professor of Medicine at the University of Colorado School of Medicine, Rheumatology Division.  “In my view, DUEXIS will allow more people access to the benefits of ibuprofen, while reducing the significant GI risk associated with its use.”

Important Safety Information

Cardiovascular and Gastrointestinal Risks

• Ibuprofen, a component of DUEXIS, may increase the risk of serious cardiovascular (CV) thrombotic events, myocardial infarction, and stroke, which can be fatal.  Risk may increase with duration of use.  Patients with cardiovascular disease or risk factors for cardiovascular disease may be at greater risk.
• DUEXIS is contraindicated for the treatment of perioperative pain in the setting of coronary artery bypass graft (CABG) surgery.
• NSAIDs, including ibuprofen, a component of DUEXIS, increase the risk of serious gastrointestinal (GI) adverse reactions including bleeding, ulceration, and perforation of the stomach or intestines, which can be fatal.  Reactions can occur at any time without warning symptoms.  Elderly patients are at greater risk.

DUEXIS should not be given to patients who have experienced asthma, urticaria, or allergic reactions after taking aspirin or other NSAIDs.  Severe, rarely fatal, anaphylaxis with NSAIDs have been reported in such patients.  DUEXIS is contraindicated for the treatment of perioperative pain in the setting of coronary artery bypass graft (CABG) surgery.  DUEXIS is contraindicated in patients in late stages of pregnancy. DUEXIS should not be administered to patients with a history of hypersensitivity to other H2-receptor antagonists.  Cross sensitivity with other H2-receptor antagonists has been observed.

When active and clinically significant bleeding from any source occurs in patients receiving DUEXIS, the treatment should be withdrawn.

NSAIDs, including ibuprofen, which is a component of DUEXIS tablets, can lead to onset of new hypertension or worsening of pre-existing hypertension, either of which may contribute to the increased incidence of CV events.

Fluid retention and edema have been observed in some patients taking NSAIDs.  DUEXIS should be used with caution in patients with fluid retention or heart failure.

Reports suggest that ibuprofen, a component of DUEXIS, may diminish the antihypertensive effect of ACE-inhibitors.  This interaction should be given consideration in patients taking DUEXIS concomitantly with ACE-inhibitors.

As with other NSAIDs, the concurrent use of aspirin and DUEXIS may increase the risk of adverse events
Long-term administration of NSAIDs, including ibuprofen, which is a component of DUEXIS tablets, has resulted in renal papillary necrosis and other renal injury.

If clinical signs and symptoms consistent with liver disease develop, or if systemic manifestations occur, DUEXIS should be discontinued.

Bleeding has been reported when ibuprofen and other NSAIDs have been administered to patients on coumarin-type anticoagulants, prescribers should be cautious when administering ibuprofen to patients on anticoagulants.

Please see Full Prescribing Information for DUEXIS at www.DUEXIS.com.

About DUEXIS^®
DUEXIS is a novel fixed-dose tablet combining the one of the world’s most prescribed NSAIDs, ibuprofen, with the most potent H2-antagonist, famotidine (800 mg/26.6 mg), in a single pill. Ibuprofen has proven anti-inflammatory and analgesic properties, whereas famotidine reduces the stomach acid secretion that can cause gastric and duodenal ulceration.  By combining ibuprofen and famotidine into a single product, it is believed that ibuprofen’s gastrointestinal safety profile will be improved without altering its ability to reduce pain and inflammation.

DUEXIS is indicated for the relief of signs and symptoms of rheumatoid arthritis and osteoarthritis and to decrease the risk of developing upper gastrointestinal ulcers, which in the clinical trials was defined as a gastric and/or duodenal ulcer, in patients who are taking ibuprofen for those indications.  The clinical trials primarily enrolled patients less than 65 years of age without a prior history of gastrointestinal ulcer.  Controlled trials do not extend beyond 6 months.

DUEXIS will be available to U.S. physicians in the second half of this year.  For more information, including full prescribing information, please visit www.DUEXIS.com.

Horizon submitted a Marketing Authorization Application (MAA) to the European Medicines Association (EMA) for DUEXIS in October 2010.

About the Arthritis Market
Osteoarthritis (OA) is a degenerative joint disease caused by the breakdown and eventual loss of the cartilage of one or more joints.  It is the most common form of arthritis and the most common cause of chronic pain, affecting more than 150 million individuals worldwide and 27 million Americans.  OA is caused by various factors, including older age, being overweight, joint injury or stress, heredity and muscle weakness.  OA commonly affects the hands, spine or large weight-bearing joints, such as the hips and knees.

Rheumatoid arthritis (RA) is a chronic disease, mainly characterized by inflammation of the lining, or synovium, of the joints.  It can lead to long-term joint damage, resulting in chronic pain, loss of function and disability

According to the Arthritis Foundation, a leading non-profit arthritis research advocacy group, arthritis affects nearly 46 million people in the U.S.  With the aging of the U.S. population, the prevalence of arthritis is expected to rise by approximately 40% by 2030, impacting 67 million people in the U.S.

NSAIDs are very effective at providing pain relief associated with OA and RA; however, there are significant upper GI-associated adverse events which can result from such treatments.  Significant GI side effects, including serious ulcers, afflict up to approximately 25 percent of all chronic arthritis patients treated with NSAIDs for three months, and OA and RA patients are two to five times more likely than the general population to be hospitalized for NSAID-related GI complications.  It is estimated that NSAID-induced GI toxicity causes over 16,500 related deaths in OA and RA patients alone and over 107,000 hospitalizations for serious GI complications each year in the U.S.

About Horizon Pharma
Horizon Pharma, Inc. is a biopharmaceutical company that is developing and commercializing innovative medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases.  For more information, please visit www.horizonpharma.com.

Forward Looking Statements
This press release contains forward-looking statements regarding the potential for DUEXIS to treat osteoarthritis and rheumatoid arthritis and to reduce the risk of developing ibuprofen-induced gastrointestinal ulcers, the ability of DUEXIS to allow greater patient access to ibuprofen, and the timing of DUEXIS’s availability to physicians.  Actual results may differ materially from those in these forward-looking statements as a result of various factors, including, but not limited to, risks regarding the company’s ability to commercialize products successfully, whether physicians will prescribe and patients will use DUEXIS, once available, and competition in the market for DUEXIS.  For a further description of these and other risks facing the company, please see the risk factors described in the company’s Registration Statement on Form S-1 that was originally filed with the United States Securities and Exchange Commission on August 3, 2010, and the amendments thereto, including those factors discussed under the caption “Risk Factors” in those filings. Forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to update or revise these statements, except as may be required by law.

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Contacts
Robert J. De Vaere
Executive Vice President and Chief Financial Officer
investor-relations@horizonpharma.com

Geoff Curtis
WCG
(312) 550-8138
gcurtis@wcgworld.com

SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) (“Company”) today announced that it has acquired NovaMed Pharmaceuticals Inc., (“NovaMed”) a China-based specialty pharmaceutical company. The acquisition brings additional broad sales and marketing, as well as regulatory and extensive business capabilities and pharmaceutical assets in the regulatory approval stage to its growing and profitable China-focused specialty pharmaceutical business. SciClone believes this acquisition will further position it as a leader in the rapidly expanding pharmaceutical industry in China.

Under terms of the agreement, NovaMed shareholders are entitled to receive up-front payments of approximately $24.7 million in cash, 8,298,110 shares of SciClone common stock valued at approximately $37.1 million (based upon the closing price of  $4.47 on the NASDAQ stock market on April 18, 2011) and the right to additional cash consideration of up to $43.0 million, contingent upon the successful achievement of revenue and earnings targets for the 2011 and 2012 fiscal years.

The Company anticipates that NovaMed and SciClone’s combined revenue for fiscal 2011 on a pro forma basis will be between $140 and $145 million. SciClone’s GAAP revenue for fiscal 2011 will exclude NovaMed’s revenue prior to the closing of the acquisition. SciClone is updating its guidance to reflect the acquisition and anticipates that its 2011 GAAP revenue will be between $133 and $138 million, and cash, cash equivalents and investments at December 31, 2011 to be greater than $45 million. The Company anticipates updating earnings per share guidance with its first quarter 2011 earnings announcement expected in early May 2011.

NovaMed, a privately-held, China-based pharmaceutical company backed by foreign venture capital, has a portfolio of 18 drug products spanning four major therapeutic areas including oncology, cardiovascular disease, central nervous system (CNS) disorders and urology/infection. To support this broad product portfolio, NovaMed has built a sales organization of more than 450 individuals with extensive pharmaceutical industry experience in penetrating the rapidly expanding pharmaceutical market in China. Growing revenues more than 25% annually since inception, NovaMed generated revenues totaling $31.5 million
(unaudited) in 2010.

SciClone’s acquisition of NovaMed was completed on April 18, 2011 through a share purchase agreement, which contains additional terms. The terms of the acquisition are described in a form 8-K filed by the Company on April 19, 2011.

“NovaMed represents an excellent strategic acquisition as it allows SciClone, in a single transaction, to dramatically expand our presence in China in five important areas: pharmaceutical products, targeted therapeutic indications, management depth, sales force size and revenue,” stated Friedhelm Blobel, Ph.D., President and Chief Executive Officer of SciClone. “Whereas SciClone had already established itself in China with our successful ZADAXIN® franchise, we have now evolved into a formidable presence in this fast growing market with a combined sales force of more than 680 individuals, nearly 20 commercial stage products spanning several key indications, and an expanded Shanghai based management team with significant pharmaceutical industry experience.”

Jon Saxe, Chairman of the Board of SciClone, added: “The combined entity should be an even more attractive partner for pharmaceutical companies wishing their products to be developed and represented in the Chinese market.”

Among NovaMed’s most successful, exclusively promoted commercial-stage products are Depakine®, the most widely prescribed broad-spectrum anti-convulsant in China, Tritace®, an ACE inhibitor for the treatment of hypertension, and Stilnox®, a fast-acting hypnotic for the short-term treatment of insomnia (marketed as Ambien® in the US), as well as Aggrastat®, a recently-launched intervention cardiology product. NovaMed’s pipeline also includes pharmaceutical assets in the regulatory approval process from partners such as Bio Alliance, Orexo, Meda, and EUSA. In building this broad pharmaceutical portfolio, NovaMed has established exclusive licensing and promotion agreements with a number of the world’s leading pharmaceutical companies, including Sanofi-aventis, Pfizer Inc., and Baxter International Inc.

“The opportunity to join forces with SciClone further advances the work that NovaMed has undertaken to build itself into a leading specialty pharmaceutical company in China,” said Bo Shao, Co-founder of NovaMed.

Mark Lotter, Co-founder and Chief Executive Officer of NovaMed added: “By combining the important financial resources and strong sales and marketing capabilities offered by SciClone with NovaMed’s proven experience in in-licensing and marketing novel therapeutics for the China market, we are in a strong position to participate in and benefit from the rapidly expanding pharmaceutical market in
China.”

Following the close of the acquisition, SciClone’s current operations in China and the newly acquired NovaMed will continue to operate as separate entities in the China market but under the leadership of Mr. Lotter. The NovaMed unit will continue to lead sales and marketing efforts for its current product portfolio. SciClone’s sales and marketing team will continue to sell and market ZADAXIN.

As part of the transaction, Mr. Lotter and Peter Barrett have been appointed to SciClone’s board of directors. Mr. Barrett served as a director of NovaMed and is a partner of Atlas Venture, one of NovaMed’s principal investors. Mr. Lotter has also
been appointed as an officer of the Company and will oversee the China-based operations for SciClone as CEO of the China Business.

Cowen Group, Inc. acted as financial advisor and Katten Muchin Rosenman LLP acted as legal counsel to NovaMed. Piper Jaffray & Co. and Lazard Capital Markets acted as financial advisors and DLA Piper LLP (US) acted as legal counsel to
SciClone in the transaction.

About SciClone
SciClone Pharmaceuticals (NASDAQ: SCLN) is a revenue-generating, China-centric, specialty pharmaceutical company with a substantial international business and a product portfolio of novel therapies for cancer and infectious diseases. The Company is focused on continuing sales growth and executing a clinical development strategy with prudently managed costs. ZADAXIN®
(thymalfasin) is approved in over 30 countries for the treatment of hepatitis B (HBV), as a vaccine adjuvant, for the treatment of hepatitis C (HCV), and certain cancers. SciClone is evaluating SCV-07 in a phase 2b trial to modify the course of oral mucositis in patients with head and neck cancer. The Company also has exclusive commercialization and distribution rights in China to a novel treatment for advanced liver cancer, DC Bead®, which is already approved in approximately 40 countries worldwide, including the U.S. and several countries in Europe. DC Bead is currently under review by regulatory agencies in China.

Additionally, SciClone owns exclusive commercialization and distribution rights to the anti-nausea drug ondansetron RapidFilm® in China, including Hong Kong and Macau, and Vietnam. The Company intends to seek regulatory approval for the
product, commonly used to treat and prevent nausea and vomiting caused by chemotherapy, radiotherapy, and surgery, in these markets. For additional information, please visit www.sciclone.com.

About NovaMed
NovaMed Pharmaceuticals was founded in August 2005 to provide one-stop service for global pharmaceutical companies and brand owners looking to leverage cost advantage and achieve optimal market potential in China. Through a directly managed sales organization of 450 people strong and growing and a network of best-in-class development, regulatory and distribution partners, NovaMed has built viable commercialization models for products at different stages of their life cycle. These include products already commercially available in China, internationally-approved products not yet registered in China, and inlicensing late stage development compounds. For more information, visit www.novamed.com.cn.

Forward-Looking Statements
This press release contains forward-looking statements regarding expected financial results and expectations. Readers are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “might,” “believes,” “estimates,” “projects,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “forecast,” “designed,” “goal,” “unaudited,” “approximately” or the negative of those words or other comparable words to be uncertain and forward-looking. These statements are subject to risks and uncertainties that are difficult to predict and actual outcomes may differ materially. These include risk and uncertainties relating to: the course, cost and outcome of regulatory matters, including pricing decisions by authorities in China; the on-going regulatory investigations and SciClone’s independent investigation; the Company’s ability to
execute on its goals for ZADAXIN sales to China and on its objectives for revenue in fiscal 2011; the challenges presented by integrating an acquired business into existing operations; the variability in earnings on a GAAP basis that may result from noncash charges related to the acquisition; the dependence on third party license or distribution agreements including the need to renew such agreements; operating an international business; the clinical trial process, including the regulatory approval and the process of initiating trials at, and enrolling patients at, clinical sites; the Company’s ability to remediate its identified material
weaknesses over financial control; and changes in its practices and policies which could adversely affect its ability to generate revenue. SciClone cannot predict the timing or outcome of its own internal investigation, of the SEC and DOJ investigations, of the various litigations that have or may be filed relating to any of those matters, or of its efforts to cooperate with those investigations, however the Company expects to incur substantial expenses in connection with theinvestigations and the results of the investigations could include fines and further changes in its internal control or other remediation measures that
could adversely affect its business. Please also refer to other risks and uncertainties described in SciClone’s filings with the SEC. All forward-looking statements are based on information currently available to SciClone and SciClone assumes no
obligation to update any such forward-looking statements. DC Bead is a registered trademark of Biocompatibles UK Limited. RapidFilm is a registered trademark of Labtec Gesellschaft für technologische Forschung und Entwicklung mbH.
Source: SciClone Pharmaceuticals, Inc.
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