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CONNETICS SIGNS EXCLUSIVE EU AGREEMENT

PALO ALTO - Northern California-based specialty pharmaceutical company Connetics Inc. has signed an exclusive license agreement granting Pierre Fabre Dermatologie of France exclusive commercial rights to distribute the company's OLUX dermatological foam for Europe, excluding Italy where the product is licensed to Mipharm S.p.A.

The license agreement with Pierre Fabre also grants marketing rights for certain countries in South America and Africa.

The product will reportedly be marketed by Pierre Fabre under different trade names.

The first European approval for OLUX was in the United Kingdom in June 2003, and subsequent marketing approvals were issued earlier this year via the European Union's mutual recognition process.
 
Currently, the product is approved in more than 15 European countries. The European super-high-potency steroid market is currently estimated at approximately $50 million dollars.

Pierre Fabre anticipates an initial launch of OLUX in select European countries in mid-2005.

PORT OF LOS ANGELES NEW AVOCADO GATEWAY

LOS ANGELES - The LauritzenCool Group, the world's largest operators of specialized refrigerated vessels, has made the Port of Los Angeles the gateway for its entire Chilean avocado shipments into the western US. 

Discontinuing ship calls to San Diego, LauritzenCool's vessels will call on the Port of Los Angeles approximately 10 times this season.

Combined with inbound avocado shipments from Chile's Compania Sudamericana de Vapores (CSAV), the Port of Los Angeles now receives 100% of all west coast-bound Chilean avocado exports - approximately 65,000 pallets or 228 million avocados annually.
 
Chilean avocados are imported September through December to satisfy consumer demand during the off-season for California-grown avocados.

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