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Angiotech Pharmaceuticals, Inc. announces financial results for the first quarter ended March 31, 2009
Date:4/30/2009

potential proposals from selected parties regarding various financial or strategic alternatives. Our management and Board of Directors continue to believe a transaction of significant size and scope may be necessary to meaningfully address liquidity concerns and the working capital needs of our business. There can be no assurance that we will be able to complete any transaction, or that any transaction could be pursued or would be able to be completed on favorable terms.

Our cash inflows and the amounts of expenditures that will be necessary to execute our business plan are subject to numerous uncertainties, including but not limited to: changes in drug-eluting coronary stent markets, including the impact of new competitive entrants into such markets, and the sales achieved in such markets by our partner BSC, the amount, timing and success of product sales and marketing initiatives and new product launches, the timing and success of our research, product development and clinical trial activities, the timing of completing certain operational initiatives, our ability to effect reductions in certain aspects of our budgets in an efficient and timely manner, and changes in interest rates. These and other uncertainties may adversely affect our liquidity and capital resources to a significant extent and may force us to further reduce our expenditures on research and development or on our various new product and sales and marketing initiatives in order for us to continue to service our debt obligations. Such further reductions in our budgeted expenditures may have an adverse effect on our new product development and sales growth initiatives and reduce our ability to achieve the revenue growth targets, product launch or new product development timelines in our current operating plan. There can also be no assurance that such reductions in expenditures will be adequate to provide enough cash flow to continue to service our current level of debt obligations.

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SOURCE Angiotech Pharmaceuticals, Inc.
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