Dragon Pharmaceuticals Inc. is pleased to announce that the Board of Directors has approved the extension of the Company’s outstanding common share purchase warrants for a period of 2 months. The exercise price remains at $2.50 and the warrants may be exercised until March 1st, 2001.
Dragon Pharmaceuticals is an international biopharmaceutical corporation engaged in the discovery, development and marketing of therapies for infectious diseases, cancer, and cardiovascular diseases. On the basis of its proprietary protein expression technology, Dragon has become one of the world’s lowest cost producers of EPO (Erythropoietin), a blood growth factor used to treat anemia. The 1999 world market for EPO was estimated at US $4.8 billion, with sales expected to grow at a rate of 20 – 25% annually. Dragon is currently in the process of applying its proprietary technology to a number of additional generic drugs.