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Angiotech announces preliminary third quarter financial results and updates fiscal 2007 outlook


segment, our expected Adjusted EBITDA range would be $99 million to

$102 million.

- Our outlook regarding adjusted net income per share for 2007 will be

updated on November 1, 2007, pending finalization of certain tax


We caution that the information above concerning our revised outlook for 2007 is forward-looking and accordingly, actual results may differ materially.

"We remain optimistic about our numerous new product opportunities and the revenue potential they provide for Angiotech. Physician excitement for Quill(TM) SRS and other new Angiotech products, our recent positive clinical trial results for our 5-FU CVC product candidate, and the continued progress of our various research and product development programs give us confidence that we should see improved product revenue growth in 2008," said Dr. William Hunter, President and CEO of Angiotech.

"While we had hoped to achieve higher revenues and adjusted EBITDA in the third and fourth quarters of 2007 - the largest impact coming from the delayed timing of revenue from newly launched products - we anticipate that our various businesses and investments in sales, marketing and medical research will deliver growth in 2008," said Thomas Bailey, Chief Financial Officer of Angiotech.

Upcoming Third Quarter Conference Call Information

A conference call to discuss these financial results will be held on Thursday, November 1, 2007 at 8:00 AM PT (11:00 AM ET).

Dial-in information:

North America (toll free): (800) 901-5213

International: (617) 786-2962

Enter passcode: 75137732

A replay archive of the conference call will be available until November 8, 2007 by calling (888) 286-8010 (in North America) or (617) 801-6888 (International) and entering Passcode 15190735.

A live webcast will be available to all interested parties through Angiotech's website at

SOURCE Angiotech Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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