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QMed, Inc. Receives NASDAQ Delisting Letter
Date:4/18/2008

EATONTOWN, N.J., April 18 /PRNewswire-FirstCall/ -- QMed, Inc., (Nasdaq: QMED) today announced that it has received a NASDAQ staff determination letter dated April 14, 2008, notifying the Company that it has not complied with NASDAQ Marketplace Rule 4350(i)(1)(A) due to its failure to comply with the shareholder approval requirements in connection with a recent financing transaction. The letter stated that the terms of the transaction and completing the financing in violation of shareholder approval rules raises public interest concerns under Marketplace Rule 4300 and IM-4300 and serves as an additional basis for delisting. In addition, the letter indicated that the Company does not comply with the independent director and audit committee composition requirements, as set forth in Marketplace Rules 4350(c) (1) and 4350(d) (2), due to the recent resignation of a director, and is not eligible for a cure period to regain compliance, which serves as an additional basis for delisting.

Accordingly, unless the Company requests an appeal of this determination, trading of the Company's common stock will be suspended at the opening of business on April 23, 2008 and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The NASDAQ Stock Market.

The Company was advised by NASDAQ that the Company may appeal Staff's determinations to the Panel, pursuant to the procedures set forth in the NASDAQ Marketplace Rule 4800 Series. A hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision, if received by April 21, 2008 prior to 4:00 pm. If the Company does not appeal S
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SOURCE QMed, Inc.
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