SBH Launches AVN's Herpes Cream -- Stock Picks

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Date Posted: 05:59:25 11/29/00 Wed
Author: SBH Launches AVN's Herpes Cream
Subject: SBH Launches AVN's Herpes Cream

Wednesday November 29, 8:30 am Eastern Time

Press Release

SOURCE: SmithKline Beecham

SmithKline Beecham, AVANIR Launch New Cold Sore Medicine; Only
FDA-Approved, OTC Product to Shorten Cold Sore Healing Time

PITTSBURGH, Nov. 29 /PRNewswire/ -- To help the more than 40 million Americans who suffer from recurrent cold sores each year, SmithKline Beecham
(NYSE: SBH - news) has launched ABREVA(TM), the first and only non-prescription cold sore medicine approved by the U.S. Food and Drug Administration
(FDA) that shortens healing time and duration of symptoms.

AVANIR Pharmaceuticals, a company that develops novel therapeutic products for the treatment of chronic diseases, developed ABREVA. ABREVA is most
effective when applied early, at the first sign of a tingle, redness, bump or itch.

According to Gerald J. Yakatan, Ph.D., president and CEO of AVANIR, ``The medicine modifies healthy skin cells to protect them against the cold sore infection,
thus speeding healing.'' ABREVA also helps shorten the duration of common cold sore symptoms, such as tingling, pain, itching and burning.

``Most lip balms and other topical salves help relieve symptoms, but are not FDA-approved to shorten the healing time of cold sores,'' said Steve Burton, Head of
Strategic Development, Medical Promotion and Smoking Control, SmithKline Beecham Consumer Healthcare. ``ABREVA is a unique medicine that starts to work
when applied at the tingle to shorten cold sore healing time. ABREVA complements our existing line of oral care products and helps to strengthen our position as a
leader in the category.''

The first drug product of AVANIR, ABREVA was developed under the name docosanol. ``In our clinical trials, docosanol 10% cream significantly reduced the
healing time of patients' cold sore episodes,'' Yakatan said. ``This product can make cold sore sufferers more comfortable, both physically and psychologically, and
allows them to return to their everyday activities sooner.''

Under terms of a March 2000 agreement with AVANIR, SmithKline Beecham Consumer Healthcare is responsible for all sales and marketing activities, as well as
manufacturing and distribution of the product. The terms of the agreement provide for AVANIR to receive an upfront licensing payment, as well as milestone
payments up to $25 million, tied to product launch timing and sales performance criteria at intervals up to one year from product launch. AVANIR also will receive
royalties on product sales.

``The FDA's decision to allow the product to be sold over-the-counter provides rapid access to treatment for the largest segment of cold sore sufferers,'' said
Yakatan. ``SmithKline's expertise and experience in the OTC area should enable us to maximize this opportunity and, consequently, shareholder value.''

According to SmithKline Beecham, the total lip care market represents $285 million in sales. ABREVA will be available in the cough and cold or oral care sections
of local drug, discount and grocery stores.

``Following this product, I have great confidence in our ability to move future products through the R&D pipeline and into the market,'' added Yakatan. AVANIR's
product development pipeline includes a recently in-licensed drug candidate for the treatment of multiple central nervous system disorders, including emotional
lability, neuropathic pain and chronic cough. It also has a drug discovery program in the advanced pre-clinical stage of development for the treatment of the
underlying biological causes of allergy and asthma.

AVANIR Pharmaceuticals (Amex: AVN - news), based in San Diego, is a specialty pharmaceutical company that develops and commercializes novel therapeutic
products for the treatment of chronic diseases. The company's Web site is http://www.avanir.com.

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