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PRESS RELEASE Pierrel S.p.A.: Signed with ARWAN Pharmaceutical Industries a manufacturing agreement for Articaine Pierrel and other dental anaestetics in the Middle East and North Africa market The agreement will last five years from the date of first supply The minimum global contract value will be of about 3,0 million euros Milan, March 8 2010 - Pierrel S.p.A. announces that it has signed a five years Manufacturing Agreement with ARWAN Pharmaceutical Industries S.A.L., a Lebanon company specialized in the distribution of injectable drugs, to market Pierrel Articaine Mepivacaine and Lidocaine in Middle East and North Africa countries (“MENA Region”). The market size of dental anaesthetics available in cartridges preparation, in the MENA Region countries is estimated to be of approximately 40 Millions cartridges per year. The minimum global contract value will be of about 3,0 million euros (representing around 10% of the market share, with an expectation that it can be worth more than double). The non-exclusive agreement provides that Arwan Pharmaceutical takes the lead to register Pierrel Articaine Mepivacaine and Lidocaine in the MENA Region and that Pierrel supplies them on the sales basis in that area. Pierrel Articaine, has considerable competitive advantages compared to the existing injectable local anaestetics and has the potential to capture, within the next 2 years, significant market shares in the range of at least 20 - 25% out of the estimated 40 million cartridges per year . Pierrel Articaine is manufactured through the application of advanced asepsis manufacturing technology which allows to reduce epinephrine contents, maintains stable pH values and provides significant longer expiration date. Pierrel has developed its drug according to the recommendation of the American Heart Association, reducing as much as possible, the amount of vasoconstrictor known to be the cause of local or systemic toxicity. Its outstanding efficacy and safety profile has been already confirmed by more than 12 Millions of cases treated with the drug in Europe. The registration process for Pierrel Articaine in MENA Region is expected to be completed by Arwan Pharmaceutical by July 2010. Luigi Visani, Company CEO, commented: “After the recent FDA approval, we are pleased to announce the imminent introduction in the MENA Region of our innovative Articaine” - he continues - “and the agreement reached with a well reputed and aggressive company such as Arwan Pharmaceutical is consistent with the clear cut strategy and the performance of Pierrel management to introduce its innovative Articaine in as many as possible worldwide countries”. Abdul Razzaq Yousef, Chairman of Arwan Pharmaceutical comments: “We are delighted to start a business cooperation with Pierrel” - he continues - “as the recent Pierrel Articaine FDA approval is a clear proof of the outstanding capabilities of the company to manufacture drugs with innovative technologies and competitive advantages”. *** About Articaine: Articaine is 4-methyl-3(2-[propylamino]propionamido)-2-thiophenecarboxylic acid, methyl ester hydrochloride with a molecular weight of 320.84 . Articaine is the only amide local anaesthetic that contains a thiophene ring. The thiophene ring of Articaine increases its lipophilicity and is highly diffusible allowing an effective tissue penetration. This ensures the profound and prolonged maintenance of an active tissue concentration of the anaesthetic, as well as minimizing the systemic absorption of both active compounds. Studies demonstrate that the time of onset of anaesthesia is significantly lower than other current anaesthetics, from 1.5 to 1.8 minutes for maxillary infiltration and from 1.4 to 3.6 minutes for inferior alveolar nerve block. Numerous studies confirm that the anaesthetic effect of Articaine is effective in almost the totality of the patients. Articaine, thanks to its unique characteristic, allows the patient not to return in the waiting room right after the injection while waiting the anaesthetic to take effect and the dentist to start, therefore, therapeutic procedures in a very short time. Articaine is the anaesthetic used the most by numerous European Dentists for all dental treatment of adults and children patients with high risk. In countries like Germany Articaine is used in around the 90% of cases. Articaine Pierrel, today available in Italy and Canada, has been already been used in more than 12 million cases, confirming its optimal safety and effectiveness profile. *** Pierrel S.p.A. Pierrel S.p.A., a global provider to the pharmaceutical and life science industries, specialized in Research and development (Contract Research) and production (Contract Manufacturing) of drug products, is listed in the Italian Stock Exchange market. The Pierrel Group enjoys more than 50 years experience in the pharmaceutical sector and is one of the main European manufacturers of dental anaesthetic drug products. The CRO division, Pierrel Research, with about 20 subsidiaries operates both in Europe and USA, providing consultancies and full services for research and development of new molecules and drug products. The manufacturing plant in Capua, near Naples (Italy), has been authorized by FDA for the production of sterile small volumes parenteral drugs. Pierrel S.p.A Corporate Office is located in Milan, Italy. *** About Arwan Pharmaceutical Industries S.A.L Arwan Pharmaceutical is a Pharma company focused in injectable products, as well as biotech products. The company HQ is based in Lebanon with offices in Middle East Area countries and Africa as well as in Chicago in charge of running US projects in order to obtain FDA approval. Arwan management have a long and vast experience with an ambitious and aggressive plan for the introduction of the dental cartridges manufactured by Pierrel Group for the Mena Area and Africa. For further information Pierrel S.p.A. Investor Relator Dott. Aurelio Matrone Email: [email protected] tel. +39 02 2413491 fax +39 02 24134201 Image Building Simona Raffaelli, Valentina Burlando, Sara Spinetto Tel. 02/89011300 E-mail: [email protected]