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COLUMBIA LABORATORIES INC (CBRX)

Columbia Laboratories, Inc. engages in the development, manufacture, and sale of pharmaceutical products for women's reproductive healthcare and endocrine-related disorders worldwide. Its products and product candidates utilize its Bioadhesive Delivery System, which consists principally of a polymer (polycarbophil) and an active ingredient, and is based upon the principle of bioadhesion, a process by which the polymer adheres to epithelial surfaces or mucosa. This technology delivers a range of compounds, including peptides, across the body's mucosal surfaces to address various therapeutic areas. The company markets Prochieve 8%, a progesterone gel, for progesterone supplementation as part of an Assisted Reproductive Technology treatment for infertile women with progesterone deficiency; and Prochieve 4%, a progesterone gel, for the treatment of secondary amenorrhea. These progesterone gels are sustained release, vaginally delivered, natural progesterone products. Columbia Laboratories also markets Striant, a testosterone buccal system, for the treatment of hypogonadism in men. The company is also investigating the potential utility of Prochieve 8% in the prevention of preterm birth and developing a vaginally-administered lidocaine product to treat dysmenorrhea and pelvic pain. In addition, the company licenses and sells batches of its partnered products to its marketing partners. Columbia Laboratories was incorporated in 1986 and is based in Livingston, New Jersey.


ELAN CORPORATION PLC (ELN)

Elan Corporation, plc engages in the discovery, development, manufacture, and marketing of advanced therapies in autoimmune diseases, such as pain and neurodegenerative diseases. The company operates in two segments, Biopharmaceuticals, and Global Services and Operations. The Biopharmaceuticals segment engages in biopharmaceutical research, development, and commercialization activities, which include the discovery and development of products in the therapeutic areas of neurology, autoimmune diseases, and pain. Its pharmaceutical commercial activities consists of the marketing of neurology/pain management products, including Myobloc that acts at the neuromuscular junction to produce flaccid paralysis; Zanaflex, which is used in the treatment of partial epileptic seizures in adults; and Frova that is used as an antimigraine therapy. This segment also markets various hospital products, such as Maxipime, an antibiotic that is used to treat patients with infections; and Azactam, which is used to treat pneumonia, post surgical infections, and septicemia. The Global Services and Operations segment focuses on product development and manufacturing to provide drug delivery technologies for the pharmaceutical industry. The company sells its pharmaceutical products primarily to drug wholesalers; and drug delivery products for licensees and distributors in the United States, the United Kingdom, and Ireland. Elan has collaboration agreement with Wyeth. The company was incorporated in 1969 and is headquartered in Dublin, Ireland.


PETMED EXPRESS INC (PETS)

PetMed Express, Inc., doing business as 1-800-PetMeds, delivers prescription and nonprescription pet medications and other health products for dogs, cats, and horses in the United States. Petmed Express' prescription medication products include heartworm treatments, thyroid and arthritis medications, antibiotics, and other specialty medications, as well as generic substitutes. Its nonprescription medication products include flea and tick control products, bone and joint care products, vitamins and nutritional supplements, and hygiene products. The company sells its products primarily to retail consumers. It also sells nonprescription medications to various businesses, including pet stores, groomers, and traditional brick and mortar stores. The company distributes its products through its 1-800-PetMeds toll free number and on the Internet through its Web site at www.1800petmeds.com. PetMed Express was founded in 1996 and is based in Pompano Beach, Florida.


ALKERMES INC (ALKS)

Alkermes, Inc. develops pharmaceutical products based on drug delivery technologies. The company's commercial product, Risperdal Consta, is an antipsychotic medication approved for use in schizophrenia and is marketed worldwide. Its product candidate under development, Vivitrex, is a once-a-month injection for the treatment of alcohol and opioid dependence. The company has a pipeline of extended-release injectable and pulmonary drug products based on its proprietary technologies, ProLease and Medisorb, as well as inhaled drug products based on AIR technology. The company has collaborations with Cephalon, Inc., Janssen-Cilag, Eli Lilly and Company, Serono S.A., and Amylin Pharmaceutical, Inc. Alkermes was founded in 1987 and is headquartered in Cambridge, Massachusetts.


HOSPIRA INC (HSP)

Hospira, Inc., a pharmaceutical and medication delivery company, engages in the development, manufacture, and marketing of specialty injectable pharmaceuticals and medication delivery systems that deliver drugs and intravenous (I.V.) fluids. Its specialty injectable pharmaceuticals produces approximately 130 injectable generic drugs in more than 600 dosages and formulations for various therapeutic areas, including cardiovascular, anasthesia, anti-infectives, analgesics, and emergency. The company's medication delivery systems include electronic pumps and sets for I.V. drug delivery, and patient-controlled analgesia for pain management, premixed drug solutions and nutritionals for I.V. infusion, and I.V. solutions and supplies. Hospira also provides contract manufacturing services to pharmaceutical and biotechnology companies for formulation development, filling, and finishing of injectable pharmaceuticals. The company offers its products to hospitals and alternate site providers, such as clinics, home healthcare providers, and long-term care facilities. Hospira, Inc. was incorporated in 2003 and is headquartered in Lake Forest, Illinois.


BIOVAIL CORPORATION (BVF)

Biovail Corporation engages in the formulation, clinical testing, registration, manufacture, and commercialization of pharmaceutical products utilizing oral drug-delivery technologies primarily in North America. Its primary focus is on various therapeutic areas, including cardiovascular disease, central nervous system disorders, and pain management. The company's portfolio of oral drug-delivery technologies include controlled release, graded release, enhanced absorption, rapid absorption, taste masking, and oral disintegration. Biovail's products are commercialized in various countries through licensing agreements with strategic marketing partners. In addition, the company promotes and/or co-promotes products on behalf of third parties; provides research, development, and clinical contract research services to third parties; and sells its controlled release products through third parties. Biovail was founded in 1983 and is headquartered in Mississauga, Canada.


BENTLEY PHARMACEUTICALS INC (BNT)

Bentley Pharmaceuticals, Inc. operates as a specialty pharmaceutical company. It focuses on developing, licensing, and sale of generic and branded pharmaceutical products and active pharmaceutical ingredients, and the manufacturing of pharmaceuticals for others; and research, development, and licensing/commercialization of advanced drug delivery technologies and pharmaceutical products. Bentley pharmaceuticals manufactures and markets approximately 120 pharmaceutical products for various dosage strengths and product formulations of approximately 30 chemical entities in four primary therapeutic areas: cardiovascular, gastrointestinal, neurological, and infectious diseases; as well as markets over-the-counter products. Its proprietary CPE-215 permeation technology enables the absorption of drugs across membranes of the skin, mouth, nose, vagina, and eye. This technology can be incorporated into various pharmaceutical formats and products, including those formulated as creams, ointments, gels, solutions, lotions, sprays, and patches. Bentley Pharmaceuticals sells its generic and branded products to physicians, pharmacists, and hospitals in Europe. In addition, the company offers biodegradable Nanocaplet technology for the delivery of macromolecule therapeutics. It has a strategic alliance with Teva Pharmaceutical Industries, Ltd. granting Bentley the right to register and market certain of Teva's pharmaceutical products in Spain; and with Perrigo Company to codevelop and market generic pharmaceutical products; as well as an agreement with Dong Sung Pharm. Co., Ltd. for the development of an intranasal spray formulation of insulin for the South Korean market. Bentley Pharmaceuticals is headquartered in Exeter, New Hampshire.


MATRIXX INITIATIVES INC (MTXX)

Matrixx Initiatives, Inc. engages in the development, production, marketing, and sale of over-the-counter pharmaceutical products. The company, through its subsidiary, Zicam LLC, produces and markets various products, including Zicam Cold Remedy nasal gel, a homeopathic remedy that reduces the duration and severity of the common cold; two related nasal swab cold remedy products, Zicam Cold Remedy Swabs and Zicam Cold Remedy Swabs Kids Size; three homeopathic oral delivery cold remedy products: Zicam Cold Remedy Chewables, Zicam Cold Remedy RapidMelts, and Zicam Cold Remedy Oral Mist; Zicam Allergy Relief, a homeopathic nasal gel formula that controls allergy symptoms for sufferers of hay fever and other upper respiratory allergies; Zicam Extreme Congestion Relief, a nasal gel formula that provides relief of nasal congestion; Zicam Sinus Relief, a nasal gel formula that enhances the benefits of Extreme Congestion Relief with menthol and eucalyptus for improved feeling of sinus pressure relief; Zicam Nasal Moisturizer, a nonmedicated nasal moisturizer; and various Zicam Cough Mist products for cough, including Zicam Cough Mist Adult Cherry, Zicam Cough Mist Adult Honey Lemon, Zicam Cough Mist Adult Plus Decongestant, Zicam Cough Mist Adult Nite, Zicam Cough Mist Kids Plus Decongestant, and Zicam Cough Mist Kids Cherry. It sells its products directly to food, drug, mass market, and wholesale warehouse retailers in the United States, as well as to distributors that sell to retail establishments. The company was incorporated in 1991. Matrixx Initiatives was formerly known as Gum Tech International, Inc. and changed its name to Matrixx Initiatives, Inc. in 2002. The company is headquartered in Phoenix, Arizona.


DELCATH SYSTEMS INC (DCTH)

Delcath Systems, Inc., a development stage company, engages in the development and marketing of a medical device for the treatment of liver cancer. It has developed Delcath system, which isolates the liver from the general circulatory system, and administers chemotherapy and other therapeutic agents directly to the liver. The company is in the process of conducting Phase III clinical trials designed to secure marketing approval in the United States and internationally. The Delcath system kit includes disposable components, such as infusion catheter, a thin walled arterial infusion catheter used to deliver chemotherapy to the liver; double balloon catheter, a multipassageway catheter used to isolate and divert the drug-laden blood exiting the liver; extracorporeal filtration circuit, a blood tubing circuit to push the isolated blood through the system's filters and guide the cleansed blood back to the patient; activated carbon blood filters used to remove the chemotherapy agent from the isolated blood; and return catheter, a thin walled blood sheath used to deliver the filtered blood. The company was founded in 1998 and is headquartered in Stamford, Connecticut.


INSITE VISION INCORPORATED (ISV)

InSite Vision Incorporated, an ophthalmic product development company, develops genetically-based technology for the diagnosis, prognosis, and management of glaucoma, ocular infections, and retinal diseases. The company also focuses on ophthalmic pharmaceutical products based on its DuraSite eyedrop-based drug delivery technology. Its principal product, AzaSite, targets infections of the eye. The company has research collaborations and licensing agreements with Societa Industria Farmaceutica Italiana-S.P.A; Quest Diagnostics Incorporated; CIBA Vision Ophthalmics; UC Regents; Columbia Laboratories, Inc.; Global Damon Pharm and Kukje Pharma Ind. Co., Ltd.; and SSP Co., Ltd. InSite Vision was incorporated in 1986 and is based in Alameda, California.


EMISPHERE TECHNOLOGIES INC (EMIS)

Emisphere Technologies, Inc., a biopharmaceutical company, specializes in the oral delivery of therapeutic macromolecules and other compounds. It develops products using eligen, a proprietary oral drug delivery technology, based on the use of synthetic chemical compounds known as EMISPHERE delivery agents that enable the transport of therapeutic macromolecules, which include proteins, peptides, polysaccharides, and charged organics across biological membranes. The company's development stage products include Oral Unfractionated Heparin, a Phase III product, and Oral Low Molecular Weight Heparin, a Phase I product, for use in the cardiovascular therapeutic area; Oral Salmon Calcitonin, a Phase II product, and Oral Recombinant Parathyroid Hormone, a Phase I product, for the treatment of osteoporosis; Partner proprietary small molecule compounds, a Phase I product, which would be used in the treatment of bone-related diseases; and Oral Recombinant Human Growth Hormone, a Phase I product, for the treatment of growth disorders. Its products in Phase I include Oral Insulin and Oral Glucagon-Like Peptides for the treatment of diabetes, and Oral Cromolyn Sodium for the treatment of asthma and allergies; and preclinical stage products consist of Oral Ciliary Neutrophic Growth Factor and Oral PYY for the treatment of obesity, and Oral Anthrax Antigen, which would be used as an anti-infective. Emisphere Technologies has collaboration agreements with Novartis Pharma AG; a license agreement with Hoffmann-La Roche, Inc. and F. Hoffmann-La Roche, LTD.; and a research and development agreement with the United States Army Medical Research Institute of Infectious Diseases. The company was founded in 1985 as Clinical Technologies Associates, Inc. and changed its name to Emisphere Technologies, Inc. in 1991. Emisphere Technologies is based in Tarrytown, New York.


GENEREX BIOTECHNOLOGY CORPORATION (GNBT)

Generex Biotechnology Corporation engages in the research and development of drug delivery systems and technology. Its products include morphine, fentanyl, heparin, and flu vaccine, which are used medically for pain relief and as a sedative. The company also offers Oralin product, which is a proprietary insulin formulation used for diabetes management. Its Oralin product is delivered through RapidMist device, which is used to administer large molecule drugs, including proteins, peptides, monoclonal antibodies, hormones, and vaccines. The company, through its subsidiary, Antigen Express, Inc., conducts research and development of technologies and immunomedicines for the treatment of malignant, infectious, autoimmune, and allergic diseases. Generex Biotechnology was founded in 1983 and is based in Ontario, Canada.


NEKTAR THERAPEUTICS (NKTR)

Nektar Therapeutics provides a portfolio of drug delivery solutions that enable the development of pharmaceutical products. The company focuses on three technology platforms: Nektar Advanced PEGylation Technology, Nektar Pulmonary Technology, and Nektar Supercritical Fluid Technology. The Nektar Advanced PEGylation Technology uses PEGylation chemistry and a PEG-based delivery system in various drug classes, including macromolecules, such as peptides and proteins, as well as small sized molecular compounds and other drugs. The Nektar Pulmonary Technology uses its know-how and technology in drug formulation, powder processing, powder filling, and packaging and devices to create an integrated system to reproducibly deliver therapeutics to the lung for both systemic and local lung applications. The Nektar Supercritical Fluid Technology uses a particle engineering process, which yields consistent powder particles in terms of size, shape, and morphology that incorporates into various dosage forms, including tablets, capsules, and inhalation systems. The company's product pipeline consists of 6 products approved in the United States; 1 product approved in Europe and in late-stage development in the United States; 3 products in phase III clinical trials; 1 product in phase II clinical trial; and 10 products in phase I clinical trials. It has strategic alliance with Enzon Pharmaceuticals, Inc. The company also has collaboration agreement with Alliance Pharmaceutical Corp.; Straumann Group; Unimed Pharmaceuticals, Inc.; Pfizer, Inc.; Schering-Plough Corporation; Baxter International, Inc.; and Eyetech Pharmaceuticals, Inc. Nektar serves pharmaceutical and biotechnology companies located in the United States and Europe. The company was founded as Inhale Therapeutic Systems, Inc. by John S. Patton in 1990 and changed its name to Nektar Therapeutics in 2003. Nektar is headquartered in San Carlos, California.


PENWEST PHARMACEUTICALS CO (PPCO)

Penwest Pharmaceuticals Co. develops pharmaceutical products based on proprietary oral drug delivery technologies primarily in North America and Europe. The company is developing two drug development pipelines, which include oxymorphone ER, an extended release formulation of oxymorphone, a narcotic analgesic being developed for twice-a-day dosing in patients with moderate to severe pain requiring opioid therapy for an extended period of time; and PW2101, a beta blocker intended for the treatment of hypertension and angina. Its drug delivery technologies include TIMERx, an extended release delivery system that is adaptable to soluble and insoluble drugs, as well as flexible for a various controlled release profiles; Geminex, a dual drug delivery system to provide independent release of different active ingredients contained in a drug; SyncroDose, a drug delivery system to release the active ingredient of a drug at the desired site and time in the digestive tract; and Gastroretentive system, a drug delivery system to provide controlled release delivery of drugs that are absorbed in the stomach and upper portions of the GI tract, without a loss of bioavailability. Penwest Pharmaceuticals is also developing various additional product candidates in areas, such as edema, epilepsy, schizophrenia, and depression. The company has a collaboration agreement with Endo Pharmaceuticals, Inc. for the development of oxymorphone ER product. Penwest Pharmaceuticals is headquartered in Danbury, Connecticut.


NOVEN PHARMACEUTICALS INC (NOVN)

Noven Pharmaceuticals, Inc. engages in the research, development, manufacture, and marketing of transdermal drug delivery technologies and prescription transdermal products. Its principal commercialized products include prescription transdermal drug delivery systems for use in menopausal hormone therapy. The company offers an estrogen patch for the treatment of menopausal symptoms marketed under the Vivelle name in the United States and Canada, and under Menorest name in Europe and certain other markets. Noven Pharmaceuticals also provides a second generation estrogen patch, the transdermal estrogen patch, under the Vivelle-Dot name in the United States and under Estradot name in various foreign countries. In addition, it developed a combination estrogen/progestin transdermal patch for the treatment of menopausal symptoms, which is marketed under the CombiPatch name in the United States and under the Estalis name in Europe and certain other markets. Noven sells its prescription patches approximately in 30 countries, including the United States, Canada, Japan, and Europe. It has collaboration with Novartis Pharma AG; Shire Pharmaceuticals Group plc; P&G Pharmaceuticals, Inc.; and Endo Pharmaceuticals, Inc. to develop a range of new patches. The company was incorporated in 1987 and is headquartered in Miami, Florida.


QUIGLEY CORPORATION (QGLY)

The Quigley Corporation engages in the development, manufacture, and distribution of homeopathic and health products. It operates in four segments: Cold Remedy, Health and Wellness, Contract Manufacturing, and Ethical Pharmaceutical. The Cold Remedy segment offers Cold-Eeze, a zinc gluconate glycine formulation. Cold-Eeze is an over-the-counter consumer product used to reduce the duration and severity of the common cold; and is sold in lozenge, sugar-free tablet, and gum forms. The Health and Wellness segment specializes in the development and distribution of proprietary health and wellness products, including herbal vitamins and dietary supplements for the human condition, primarily within the United States. The Contract Manufacturing segment produces lozenge product. It warehouses and ships the company's Cold-Eeze products. This segment also produces a variety of hard and organic candy for sale to third party customers, as well as engages in contract manufacturing activities for nonrelated entities. The Ethical Pharmaceutical segment involves in the research and development of naturally derived prescription drugs, cosmeceuticals, and dietary supplements. The Quigley was organized in 1989 by Guy J. Quigley and Charles A. Phillips. The company is headquartered in Doylestown, Pennsylvania.


FLAMEL TECHNOLOGIES S.A (FLML)

Flamel Technologies S.A., a biopharmaceutical company, engages in the development and commercialization of controlled-release therapeutic products based on its proprietary polymer-based technologies. The company's technology, Micropump, is a multiparticulate technology for oral administration of small molecule drugs with applications in controlled-release, tastemasking, and bioavailability development. Micropump technology has various other features, including a high loading ratio of active ingredient to its polymer coating, thus enabling for conventional size tablets or capsules. Its primary products based on its Micropump technology comprise Genvir, a controlled-release acyclovir for the treatment of genital herpes; Metformin XL, a controlled-release form of Metformin for the treatment of type II diabetes; and Asacard, a controlled-release formulation of aspirin for the treatment of cardiovascular disease. The company's technology also includes Medusa, a nano-particulate technology that delivers therapeutic proteins, peptides, and small molecules. This technology permits the controlled-release of proteins without the denaturation or other effects on such proteins of various other delivery systems. Its application for Medusa technology is Basulin, which is long-acting insulin for the treatment of diabetes. In addition, the company develops a patented biomaterial, ColCys. ColCys has applications in soft tissue surgical adhesives and the prevention of post-surgical adhesions. The company has operations primarily in France and North America. Flamel has partnerships with Merck & Co., Inc.; GlaxoSmithKline plc; Corning, Inc.; and TAP Pharmaceutical Products, Inc. The company was founded by Gerard Soula in 1990. Flamel Technologies is headquartered in Venissieux, France.