Oryx Announces Launch of Niaspan® in Canada

Mississauga, Ontario April 25, 2005 - Oryx Pharmaceuticals Inc. (Oryx) is pleased to announce the introduction of prescription Niaspan (niacin extended-release tablets) in Canada. Niaspan is a highly effective therapy to raise the body's HDL-C, also known as the "good cholesterol", with clinical trials demonstrating that Niaspan increases HDL-C levels by up to 24%.

Niaspan is approved in Canada for the treatment of dyslipidaemia, including patients with mixed dyslipidaemia characterized by elevated levels of LDL-cholesterol (LDL-C) and triglycerides, low HDL-cholesterol (HDL-C), and in patients with primary hypercholesterolemia. Niaspan may be used in combination with statins when response to statins is inadequate or as monotherapy, including when patients are intolerant to statins. In pivotal trials, the majority of Niaspan patients experienced flushing, however, Niaspan patients reported 78% fewer flushing episodes per month compared with immediate-release niacin following 4 weeks of maintenance therapy.

"The launch of Niaspan in Canada represents a significant milestone for Oryx and we are pleased to be providing this significant new therapy to all Canadians, fulfilling an unmet need for raising HDL-C ("good cholesterol"). HDL-C improvement can now become a priority", stated Douglas Reynolds, President of Oryx, a Canadian specialty pharmaceutical company focused on several therapeutic areas, including cardiovascular disease.

Niaspan was developed by Kos Pharmaceuticals Inc. (Kos) and recorded revenue in excess of $300 million in the United States in 2004. Pursuant to the agreement with Kos, which was established in August 2003, Oryx has exclusive commercialization rights to Niaspan in Canada and is responsible for all promotional investments. Kos is responsible for manufacturing and supplying Niaspan for sale in Canada. The cholesterol market in Canada was valued at nearly $1.4 billion according to IMS in 2004, reflecting an annual growth rate of 15%, with cardiovascular disease remaining the number one cause of death among Canadians.

"Niaspan is the most potent, patient friendly therapy available for increasing HDL-C and lowering triglycerides," stated Adrian Adams, President and CEO of Kos. "With the Canadian approval, Niaspan will have the potential to be available in every country around the world, except Japan, and obtain broader penetration in the worldwide cholesterol market. We are confident that this therapy will make a significant difference in improving the health of patients afflicted with dyslipidaemia in Canada and around the world. "

About Oryx:

Oryx is a Canadian specialty pharmaceutical company focused on several therapeutic areas, including cardiovascular disease. Oryx currently promotes several prescription pharmaceutical products in Canada including two cardiovascular therapies, Corvert®, from Pfizer Canada, and Angiomax®, from The Medicines Company.

About Kos:

Kos Pharmaceuticals, Inc. is a fully integrated specialty pharmaceutical company engaged in developing, commercializing, manufacturing and marketing proprietary prescription products for the treatment of chronic diseases. The Company's principal product development strategy is to reformulate existing pharmaceutical products with large market potential to improve safety, efficacy, or patient compliance. The Company currently markets Niaspan and Advicor for the treatment of cholesterol disorders, and Azmacort for the treatment of asthma. Kos is developing additional products, has proprietary drug delivery technologies in solid-dose and aerosol metered-dose inhalation administration and is pursuing certain strategic business development and licensing opportunities.


Primary Contact Information:

Doug Reynolds
President
Oryx Pharmaceuticals Inc.
Tel. (866) 260-6291 (toll free) Ext. 6773
dougr@oryxpharma.ca


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