Pending Litigation With Healthpoint, Ltd.
Miami, USA - 13 March, 2002 (PRN):For the past 18 months, Stratus Pharmaceuticals Inc., a minority-owned, Miami-based company, has been diligently defending itself from litigation brought on by Healthpoint, Ltd., a San Antonio based company over advertising issues regarding Stratus' economical wound care products, KOVIA® Ointment and ZIOX™ Ointment in San Antonio Federal Court. Healthpoint had also sued Ethex Pharmaceuticals for similar reasons for their product Ethezyme™.
In response to the recent verdict against Stratus, Stratus' President, Mr. Alberto Hoyo, stated: "This is an inappropriate verdict in a dispute between competitors. Stratus will continue defending itself and vigorously challenge the verdict and pursue all legal options available to us including but not limited to an appeal. We believe that Healthpoint's claims have no merit. KOVIA® and ZIOX™ are two of many competitively priced pharmaceutical products that Stratus markets." Mr. Hoyo reiterated his confidence and commitment that Stratus will emerge as a stronger Company from these endeavors.
Hoyo also stated "Due to the proceedings brought by Healthpoint, and in order to preserve Stratus' ability to continue to provide its services and products to customers nationwide, Stratus' Corporate Legal Counsel has advised Stratus to seek protection under Chapter 11, Reorganization, of the United States Bankruptcy Code. Stratus remains a strong and viable Company committed to providing quality economical products to its customers and will continue to do so without interruption or interference from Healthpoint or any other competitor. Our products will continue to be available in the market without interruption."
"Stratus considers Healthpoint's actions to be motivated solely on the basis of competition by a much larger company trying to eliminate a small competitor that offers quality products at affordable prices to patients and institutions."
Stratus Pharmaceuticals Inc., markets its products in Dermatology, Podiatry and Wound Care. Stratus markets products for hyper-pigmentation, dermatitis, fungus infections, specialty skin moisturizers, hyperhydrosis control, wound debriding and healing ointments (with specially designed packaging for Hospitals) and a patented wound treatment product (PEVIDERM™).
Accuzyme is a registered trademark of Healthpoint, Ltd.
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