MGI PHARMA Issues Statement
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MGI PHARMA, INC. (NASDAQ:MOGN) a biopharmaceutical company
focused in oncology and acute care, today stated that its board of
directors has authorized management to evaluate possible strategic
alternatives. To assist in this process, the company retained the
services of Lehman Brothers, who is acting as its exclusive financial
advisor. There can be no assurance that a strategic transaction will be
pursued or consummated, and the company indicated that its strategy is
yielding strong operating and financial performance.
Contrary to statements recently reported, it is the company’s
policy not to comment on rumors and speculation regarding its review of
possible strategic alternatives. In keeping with that policy, the
company will not publicly disclose further information regarding the
status of its evaluation until the process has been completed.
About MGI PHARMA
MGI PHARMA, INC. is a biopharmaceutical company focused in oncology and
acute care that acquires, researches, develops, and commercializes
proprietary products that address the unmet needs of patients. MGI
PHARMA markets Aloxi®
(palonosetron hydrochloride) Injection, Dacogen®
(decitabine) for Injection, and Gliadel®
Wafer (polifeprosan 20 with carmustine implant) in the United States.
The Company directly markets its products in the U.S. and collaborates
with partners to reach international markets. For more information about
MGI PHARMA, please visit www.mgipharma.com.
This news release contains certain "forward-looking" statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Forward looking statements typically are preceded by words such as
"believes," "expects," "anticipates," "intends," "will," "may,"
"should," or similar expressions. These forward-looking statements are
not guarantees of MGI PHARMA's future performance and involve a number
of risks and uncertainties that may cause actual results to differ
materially from the results discussed in these statements. Factors that
might cause MGI PHARMA's results to differ materially from those
expressed or implied by such forward-looking statements include, but are
not limited to, those risks and uncertainties detailed from time to time
in MGI PHARMA's filings with the Securities and Exchange Commission
including its most recently filed Form 10-Q or 10-K. MGI PHARMA
undertakes no duty to update any of these forward-looking statements.
