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FDA Grants Marketing Approval To Xalatan (Latanoprost) For Initial Treatment Of Elevated Eye Pressure

First prescription eye drop in its class to receive a first-line indication for use in those with ocular hypertension and the most common form of glaucoma

PEAPACK, NJ -- December 23, 2002 -- Pharmacia Corporation (NYSE: PHA) announced today that the U.S. Food and Drug Administration (FDA) has approved the once-daily prescription eye drop Xalatan® (latanoprost ophthalmic solution) as an initial treatment for elevated eye pressure associated with open-angle glaucoma or ocular hypertension. Xalatan is the first and only prostaglandin with a first-line indication for the treatment of elevated eye pressure (intraocular pressure or IOP) in all three major markets: the United States, Europe and Japan.

"The first-line indication supports the use of Xalatan earlier in the treatment process," said Robert Fechtner, M.D., Professor of Ophthalmology and Director of the Glaucoma Division, UMDNJ-New Jersey Medical School. "Effective first-line treatment becomes even more important in light of recent studies that have further emphasized the importance of early treatment. Elevated IOP represents a major risk factor for vision loss with glaucoma; the higher the level of IOP, the greater the likelihood of optic nerve damage and visual field loss."

Xalatan was introduced in the United States in 1996 as the first prostaglandin-based IOP-lowering medication. The FDA initially approved the medication for second-line use. Second-line usage meant Xalatan could be prescribed to reduce elevated IOP in patients with open-angle glaucoma and ocular hypertension who were intolerant of other IOP-lowering medications or who did not have a sufficient reduction in IOP in multiple measurements using another IOP-lowering medication. The first-line indication is supported by five-year Xalatan safety data submitted to the FDA.

"The first-line indication means that eye doctors will have additional reason to prescribe Xalatan as initial treatment for patients with elevated eye pressure," said Goran Ando, M.D., Executive Vice President and President, R & D, Pharmacia Corporation. "Studies show that Xalatan provides unsurpassed IOP reduction and has a well-established safety and tolerability profile. With more than 400 peer-review published papers, 100 million prescriptions worldwide(i) and a first-line indication in more than 80 countries, Xalatan is truly emerging as a standard in the management of elevated IOP."

Scott Christensen, President and Chief Executive Officer of The Glaucoma Foundation, said of the first-line indication for Xalatan: "It is important that doctors and their patients have a number of effective options for treating elevated eye pressure. The FDA approval of Xalatan for initial use in lowering eye pressure in patients with ocular hypertension or open-angleglaucoma provides an effective and well-tolerated treatment option."

Glaucoma affects approximately three million people in the United States and 67 million people worldwide. An estimated three to six million people in the United States have elevated eye pressure. Open-angle glaucoma is a condition in which there is too much pressure in the eye. Too much pressure in the eye can gradually damage the optic nerve, causing the loss of vision, and potential blindness.

Since its introduction, Xalatan has become the leading IOP-lowering agent in the world based on value share(ii) and the number-one prescribed IOP lowering agent in the United States(iii).

Administered once daily, Xalatan is believed to lower IOP by increasing the rate at which fluid flows out of the eye. The most commonly reported side effects in eyes of patients treated with Xalatan for six months in clinical studies include blurred vision, burning and stinging, eye redness, the feeling that something is in the eye, eye itching, darkening of eye color and irritation of the clear front part surface of the eye. Xalatan can slowly increase the amount of brown eye color, can darken eyelids and eyelashes, and increase the growth of eyelashes in the treated eye. Color changes can increase as long as Xalatan is administered; eye color changes are likely to be permanent.

Pharmacia Corporation (NYSE: PHA) is a top-tier global pharmaceutical company whose innovative medicines and other products save lives and enhance health and wellness. Pharmacia's 43,000 employees work together with many diverse stakeholders to bring these benefits to people around the world and to create new health solutions for the future. On July 15, 2002, Pharmacia Corporation and Pfizer Inc (NYSE: PFE) announced the signing of a definitive agreement providing for Pfizer to acquire Pharmacia in a stock-for-stock transaction that is expected to close in the first quarter of 2003.

Certain statements contained in these comments are "forward-looking statements" provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements are anticipated financial results, financial projections, business prospects, future product performance, future research and development results, expected regulatory actions and other matters that are not historical facts. These forward-looking statements are based on the information available, and the expectations and assumptions deemed reasonable by the Company as of December 23, 2002. The Company does not undertake any obligation to update any forward-looking statements in any communications of the Company, and all such statements should be read as of the time when the statements were made, and with the recognition that these forward-looking statements may not be complete or accurate at a later date. Because these forward-looking statements are subject to many risks, uncertainties and changes over time, actual results may differ materially from those expressed or implied by such forward-looking statements. Among the many factors that may cause or contribute to actual results being materially different from those expressed or implied by such forward-looking statements are; the speed and likelihood of regulatory approvals, competitive effects from current and new products, including generic products sold by other companies; price constraints imposed by managed care groups, institutions and government agencies; governmental actions to provide lower cost pharmaceutical products; the Company's ability to continue to discover and license new compounds, develop product candidates, obtain regulatory approvals and market new products; the Company's ability to secure and defend its intellectual property rights; the Company's ability to attract and retain management and other key employees; product developments, including adverse reactions or regulatory actions; social, legal and political developments, especially those relating to health care reform, pharmaceutical pricing and governmental and public acceptance of biotechnology; unusual seasonal conditions in agricultural markets; new product, antitrust, intellectual property or environmental liabilities; changes in foreign currency exchange rates or general economic or business conditions; changes in applicable laws and regulations; changes in accounting standards or practices; and such other factors that may be described in the Companies' filings with the U.S. Securities and Exchange Commission.

(i) IMS HEALTH, MIDAS data from January 1996 through September 2002
(ii) IMS HEALTH MIDAS data August 2001-August 2002
(iii) IMS HEALTH NPA PLUS(TM) (Total Dispensed Rx).

September 2001-September 2002


SOURCE: Pharmacia Corporation

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