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Angiotech announces preliminary third quarter financial results and updates fiscal 2007 outlook
Date:10/19/2007

ositive physician

reception for the Quill(TM) SRS product launch, we have

accelerated our investments in sales and marketing, completed our

hiring plans ahead of our original schedule, and will continue to

invest research and development resources to expand the Quill(TM)

SRS product line, with the goal of offering approximately 40

Quill(TM) SRS SKUs by year-end.

- Our full year 2007 outlook for certain expenses, including selling,

general and administrative and research and development expenses,

remains consistent with ranges as previously communicated, with

increases in sales and marketing related expenses as compared to the

upper end of the range a possibility. This outlook is inclusive of

investments in the second half of 2007 relating to:

- Sales force expansion, product launch and market development

initiatives for Quill(TM) SRS and our interventional business;

- Launch preparation activities related to our HemoStream(TM)

dialysis catheter product line, which recently received regulatory

approval one quarter in advance of our original expectations;

- The acceleration of clinical trial activities relating to our

Vascular Wrap(TM) product candidate in the U.S.;

- EU product launch and U.S. clinical trial activities relating to

our Bio-Seal(TM) lung biopsy product line.

- As a result of the revenue delays and the decision to maintain

investment in critical programs, we are updating our full year 2007

Adjusted EBITDA outlook range to $47 million to $50 million from the

previously stated $85 million to $95 million. Excluding research and

development expenses, the significant majority of which are

discretionary and relate primarily to our Pharmaceutical Technologi
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SOURCE Angiotech Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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