Attention: Business/Health Editors
January 8, 2003
For Release 9:30am

First Generic of Cholesterol Reducing Drug Zocor®
Gets Approval In Canada

TORONTO, ONTARIO, CANADA – Apotex Inc. announced that on December 21st, it received its approval by Health Canada to market Apo-Simvastatin, a generic version of Zocor®. Shipments have commenced to pharmacies. Simvastatin is a cholesterol lowering agent in the “statin” family of drugs. In 2002, Zocor® had sales of approximately $275 million in Canada and has been marketed exclusively by Merck Frosst since 1990. 

With a 30% price reduction, the generic Apo-Simvastatin has the potential to save $82 million annually for all Canadian users of Zocor®. It will also lower costs immediately to provincial drug plans and employers with employee health benefit programs. “It is now up to the provinces to take advantage of the savings by ensuring immediate listings in all interchangeable formularies”, stated Jack Kay, President and COO of Apotex.

The Apotex Group of Companies has 5,000 employees and spends over $100 million per year in R&D. It produces 220 different medicines which are exported to 115 counties.

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For additional information, please contact:

Elie Betito 
Director 
Public and Government Affairs
Tel: (416) 749-9300
Cell: (416) 985-1067
ebetito@apotex.com