INKP Inkine Pharmaceutical (MM)

InKine Pharmaceutical Company, Inc. (Nasdaq:INKP) today announced that the Philadelphia Court of Common Pleas entered a final judgment order approving the settlement of InKine's class action litigation related to the denial of certain claimed preemptive rights. The Court determined that the settlement was fair, reasonable and adequate to the members of the class. The settlement, together with costs incurred by InKine in the litigation, is being funded by a third party. "We are pleased that the final judgment has been entered by the Court and that InKine and its insurance carriers are not responsible for funding the damage settlement," said Leonard S. Jacob, M.D., Ph.D., Chairman and Chief Executive Officer of InKine. The Court's judgment becomes unappealable after 30-days. There can be no assurance that the judgment will not be appealed. About InKine Pharmaceutical InKine Pharmaceutical Company, Inc. is a publicly traded specialty pharmaceutical company focused on developing and commercializing pharmaceutical products for the diagnosis and treatment of gastrointestinal disorders. The Company's development strategy is to acquire late-stage drug candidates with short time lines to commercialization. The Company's franchise product, Visicol(R) is the only tablet purgative preparation indicated for bowel cleansing prior to colonoscopy. InKine's second product, IB-Stat(R), is an oral hyoscyamine spray for the treatment of a variety of indications. Additionally, the Company is developing INKP-102, an advanced generation purgative, which the Company recently submitted a new drug application to FDA for bowel cleansing prior to colonoscopy and studying Visicol(R) for use as a laxative in treating patients with constipation. For further information, please visit InKine on its web site http://www.inkine.com. In addition to historical facts or statement of current condition, this press release may contain forward-looking statements. Forward-looking statements provide InKine's current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings projections, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning. InKine's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties such as those set forth in its reports on Form 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, InKine does not intend (and it is not obligated) to update publicly any forward-looking statements. This discussion is permitted by the Private Securities Litigation Reform Act of 1995.