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| |  FDA Approves Olux (Clobetasol Propionate) Foam For Scalp Dermatoses PALO ALTO, CA -- May 31, 2000 -- Connetics Corporation announced that the U.S. Food and Drug Administration (FDA) has granted marketing clearance to Olux™ (clobetasol propionate) Foam 0.05%, a novel foam formulation for the short-term topical treatment of the inflammatory and pruritic manifestations of moderate-to-severe corticosteroid-responsive dermatoses of the scalp. "We are very delighted with the FDA's approval of the Olux NDA in less than 10 months from the date of submission," said Thomas G. Wiggans, president and chief executive officer, Connetics Corporation. "The approval of Olux is an important part of our product development and commercialization strategy. With this approval, we can now provide physicians and patients with a super-high potency corticosteroid in our novel delivery technology, which complements our first product, Luxiq™, a mid-potency corticosteroid. The approval of our second product is a critical step in long-term commercialization strategy, allowing us to leverage our existing sales and marketing organizations." Olux represents the second product approval for Connetics in just over one year. The first product approval for Connetics was Luxiq (betamethasone valerate) Foam, 0.12%. The FDA approved Luxiq for the treatment of corticosteroid-responsive dermatoses of the scalp in February 1999. Olux's novel delivery technology was developed by Soltec Research Pty Ltd, a wholly-owned subsidiary, based in Australia, of international pharmaceutical and healthcare company F.H. Faulding & Co Limited. In December of 1999, Connetics entered into a comprehensive licensing agreement with Soltec Research Pty Ltd for exclusive rights to certain applications of a broad range of unique topical delivery technologies, including aerosol foam formulations and Soltec's patented Liquipatch™ technology. Connetics expects to launch Olux in the fourth quarter. Connetics Corporation, headquartered in Palo Alto, California, is focused on the acquisition, development and commercialization of marketed and late-stage products. Connetics currently markets Luxiq for the treatment of corticosteroid-responsive dermatoses of the scalp. In addition, Connetics has an investigational product under development, recombinant human relaxin for the treatment of scleroderma, infertility, peripheral vascular disease and other fibrotic diseases. Related Link: Connetics Corporation.
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