Press Releases & Company News

Cosmo Pharmaceuticals announces drop in book value of shares of Santarus

Lainate, Italy, April 16, 2010 – Cosmo Pharmaceuticals S.p.A., Lainate, Milano (I) (“Cosmo”; SIX Swiss Exchange: COPN) announces that Santarus Inc (“Santarus”; NASDAQ: SNTS) prior to market opening on April 15 informed the public that a District court in Delaware had ruled against it in and in favour of the generic challenger Par Pharma in the Zegerid patent case. Santarus has announced that they will appeal this ruling.

Cosmo has licensed its two most advanced clinical projects, Budesonide MMX and Rifamycin SV MMX to Santarus for the US market. In lieu of a cash up front payment of originally $ 12 million Cosmo requested and got the 6 million shares making Cosmo the second largest shareholder of Santarus. Santarus and Cosmo have established a close working relationship while working together in advancing the clinical trials for Budesonide MMX. Cosmo thus considers these shares as a strategic investment.

At year end 2009 Cosmo carried these SNTS shares at a value of $ 4.62 in its books; on April 15 they opened at $ 3.53 which, would books be closed at that price, would mean that the net equity of Cosmo would fall by around € 3.6 m or 6.0%.

About Cosmo

Cosmo is a speciality pharmaceutical company that aims to become a global leader in the field of optimized therapies for selected Gastrointestinal and topically treated Skin Disorders. The company’s proprietary clinical development pipeline specifically addresses innovative treatments for IBD, such as Ulcerative Colitis and Crohn’s Disease, and Colon Infections. In addition, the Company is developing a new chemical entity for the topical treatment of Acne, Alopecia and Hirsutism. Cosmo’s first MMX^® product that has reached the market is Lialda^®/Mezavant^®/Mesavancol^®, a treatment for IBD that is licensed globally to Giuliani and Shire Limited. Cosmo’s proprietary MMX^® technology is at the core of the Company’s product pipeline and was developed from its expertise in formulating and manufacturing gastrointestinal drugs for international clients at its GMP (Good Manufacturing Practice) facilities in Lainate, Italy. The technology is designed to deliver active ingredients in a targeted manner in the intestines.

More information on Cosmo can be found at: www.cosmopharmaceuticals.com

For further information, please contact:

Cosmo
Dr. Chris Tanner, CFO and Head of Investor Relations
Tel: +39 (0)2 9333 7617
chris.tanner@cosmopharmaceuticals.com

Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Cosmo undertakes no obligation to publicly update or revise any forward-looking statements.

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