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BioSpecifics Announces Abbott Laboratories to Market Collagenase Santyl® Ointment

PRNewswire-FirstCall
LYNBROOK, N.Y.
Nov 3, 2003

BioSpecifics Technologies Corp. (NASDAQ: BSTC) announced today that the Ross Products Division of Abbott Laboratories Inc. will assume United States marketing responsibility for Collagenase Santyl® Ointment effective Jan. 1, 2004.

(Logo: http://www.newscom.com/cgi-bin/prnh/19990513/BSTCLOGO )

Abbott Laboratories (NYSE: ABT), through the former Knoll Pharmaceutical business it acquired in 2001, currently manufactures Collagenase Santyl® Ointment using BioSpecifics' collagenase ABC enzyme as the essential ingredient. This prescription ointment is indicated for debridement of chronic dermal ulcers and second and third degree burns.

Collagenase Santyl® Ointment is sold primarily to long-term care centers, where Abbott's Ross Products Division has built a strong market position and reputation. Thomas L. Wegman Executive Vice President stated "We are excited about this change in marketing and look forward to real growth in the marketplace as a result of Abbott's expertise, presence, and resources in marketing pharmaceuticals. We anticipate that Abbott's commitment to research will help achieve the important potential of this treatment." Ross is an ideal marketer for Santyl® based on its leadership among customers in the long-term care segment and its growing franchise in critical care, including burn treatment units.

The sub-license agreement under which Smith & Nephew had been marketing Santyl® ointment terminated on June 30, 2003 but it was agreed they would continue to market through the end of the 2003. Ross Products will communicate new ordering procedures and service contacts to customers in the near future in order to ensure a smooth and seamless transition.

The availability of collagenase ABC enzyme for manufacturing into Santyl® ointment is expected to increase as 2004 progresses, as a result of the previously announced approval by the U.S. Food and Drug Administration of the renovated enzyme manufacturing facility in Curacao, Netherlands Antilles. The FDA approved facility renovations are for a highly controlled state of the art clean room environment with manufacturing areas, laboratories and equipment designed for increased production capacity.

Abbott Laboratories is a global broad based health care company devoted to the discovery, development, manufacture, and marketing of pharmaceuticals, nutritionals, and medical products including devices and diagnostics. Abbott employs more than 70,000 people and markets its products in more than 130 countries. More information about Abbott is available on the company's Web site at www.abbott.com. Santyl® is a registered trademark of Abbott Laboratories.

About BioSpecifics Technologies Corp.

BioSpecifics Technologies Corp. is a biopharmaceutical company with a focus on wound healing and tissue remodeling. It has pioneered the application of Collagenase for several disease conditions, notably dermal ulcers, pressure sores (bedsores), and second and third degree burns. BioSpecifics produces Collagenase ABC, the essential ingredient in the prescription drug Collagenase Santyl® Ointment sold in the United States, and under other trademarks abroad.

BioSpecifics is also developing an injectable form of collagenase, which has been used in published clinical trials for treatment of Dupuytren's disease, Peyronie's disease, keloids, hypertrophic scars, and glaucoma. Phase 3 clinical trials are underway for the use of injectable collagenase in treating Dupuytren's disease.

In addition, clinical trials investigating the use of injectable collagenase in the treatment of lipoma reduction are close to completion. A new clinical trial for Peyronie's disease is scheduled for initiation in December 2003. Clinical and laboratory investigations further profiling the potential role of collagenase and its pharmacological activity for wound healing are being pursued.

                      Visit BioSpecifics' website at
                           www.biospecifics.com
           its Dupuytren's Disease patient discussion forum at
                       www.biospecifics.com/forum/
          and its Peyronie's Disease patient discussion forum at
                  www.biospecifics.com/forum/index2.html

Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, liquidity and adequate funding, government regulation, the ability of the Company to adequately address concerns of the FDA, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies, and other risk factors detailed in the Company's filings with the Securities and Exchange Commission. Further, any forward looking statement or statements speak only as of the date on which such statements were made, and we undertake no obligation to update any forward looking statement or statements to reflect events or circumstances after the date on which such statement or statements were made.

The Company incorporates by reference the Management's Discussion and Analysis or Plan of Operations set forth in its Form 10-KSB for the fiscal year ended January 31, 2003, Form 10-QSB for the six months ended June 30, 2003, and Form 8-K dated June 19, 2003.

Photo: http://www.newscom.com/cgi-bin/prnh/19990513/BSTCLOGO

SOURCE: BioSpecifics Technologies Corp.

CONTACT: Thomas L. Wegman of BioSpecifics Technologies Corp.,
+1-516-593-7000

Web site: http://www.biospecifics.com/
http://www.abbott.com/