Exhibit 99.1
CONNETICS PROVIDES INFORMATION ON SECURITIES AND EXCHANGE
COMMISSION INVESTIGATION
PALO ALTO, Calif. (April 7, 2006) – Connetics Corporation (NASDAQ: CNCT), a specialty pharmaceutical company that develops and commercializes dermatology products, today provided new information regarding Securities and Exchange Commission (SEC) matters.
On March 28th, the SEC filed a civil lawsuit against a Connetics employee for alleged insider trading. The Company has since terminated that employee. Connetics is not named as a defendant in that lawsuit.
The Company has also since been informed that, in addition to matters related to the former employee, the SEC is conducting a formal investigation regarding whether Connetics or its employees, officers, directors, or others related to the Company, may have violated federal securities laws. Connetics intends to cooperate fully with the SEC.
About Connetics
Connetics Corporation is a specialty pharmaceutical company focused on the development and commercialization of innovative therapeutics for the dermatology market. Connetics has branded its proprietary foam drug delivery vehicle VersaFoam®. The Company’s marketed products are OLUX® (clobetasol propionate) Foam, 0.05%; Luxiq® (betamethasone valerate) Foam, 0.12%; Soriatane® (acitretin) capsules; and Evoclin® (clindamycin) Foam, 1%. Connetics is developing Desilux™ (desonide) VersaFoam-EF, 0.05%, a low-potency topical steroid formulated to treat atopic dermatitis; Primolux™ (clobetasol propionate) VersaFoam-EF, 0.05%, a super high-potency topical steroid formulation to treat atopic dermatitis and plaque psoriasis; Extina® (ketoconazole) VersaFoam-HF, 2%, to treat seborrheic dermatitis; and Velac® (a combination of 1% clindamycin and 0.025% tretinoin) Gel, to treat acne. Connetics’ product formulations are designed to improve the management of dermatological diseases and provide significant product differentiation. In Connetics’ marketed products, these formulations have earned wide acceptance by both physicians and patients due to their clinical effectiveness, high quality and cosmetic elegance. For more information about Connetics and its products, please visitwww.connetics.com.
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Company Contact: | | |
| John Higgins | | Bruce Voss or Zachary Bryant |
| Chief Financial Officer | | Lippert/Heilshorn & Associates |
| (650) 843-2800 | | (310) 691-7100 |
ir@connetics.com | | bvoss@lhai.com |
| Press Release Code: (CNCT-G) | | |
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