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Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended December 31, 2008
Date:3/5/2009

any such lending. Current market conditions may have a material impact on our ability to secure any alternative source of funding, our ability to secure interim financing or to complete any of the activities as described on favorable terms, if at all.

Fourth Quarter Business Highlights

Promoted Brand Strategy. Sales of our currently marketed Promoted Brand products continued to demonstrate higher revenue growth as compared to our overall product portfolio, consistent with recent prior quarters. Revenue growth in our Promoted Brand products was approximately 39%, contributing to an aggregate growth rate of approximately 6% in total product revenue in the fourth quarter of 2008 as compared to the fourth quarter of 2007. Revenue growth was approximately 46% for our Promoted Brand products, and 12% for all products, respectively, for the full year 2008 as compared to 2007. We observed continued commercial progress with our proprietary Quill SRS product line in the fourth quarter. At the end of the quarter, we had 596 hospital customers, which exceeded our goal of 500 hospital customers by the end of 2008.

Base Medical Products Sales. Sales of products outside of our Promoted Brand product group were stable during the quarter and indicated growth year over year. Revenue growth in our base Surgical, Interventional and Specialties businesses (excluding Promoted Brands) was approximately flat in the fourth quarter of 2008 as compared to the same period in 2007, and approximately 6% for the full year 2008 as compared to 2007.

FDA Approval Received by our Partner BSC for TAXUS Liberte(R) and TAXUS Express Atom(TM) Stents. On October 10, 2008, we announced that BSC had received approval from the United States Food and Drug Administration ("FDA") to market and sell the second generation TAXUS Liberte(R) Paclitaxel-Eluting Coronary Stent System in the United States. On September 25, 2008, we announced that BSC had received approv
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SOURCE Angiotech Pharmaceuticals, Inc.
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5. Angiotech Announces Extension of the Expiration Date of its Tender Offer for Senior Floating Rate Notes Due 2013 and 7.75% Senior Subordinated Notes Due 2014
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