Theratechnologies inc.

Theratechnologies inc.

March 29, 2007 11:18 ET

Theratechnologies' Annual meeting: CEO Sees Busy Year and Bright Future Following Positive Phase 3 Clinical Results

A. Jean de Grandpre retires as Chairman - stays on the Board Paul Pommier named to replace Mr. de Grandpre

MONTREAL, QUEBEC--(CCNMatthews - March 29, 2007) - Theratechnologies (TSX:TH) today held an upbeat annual meeting at the Centre Mont-Royal in downtown Montreal following a year in which, Company Chairman, A. Jean de Grandpre, said Theratechnologies "hit a homerun, with the bases loaded."

Mr. de Grandpre, a former Chairman of Bell Canada who has presided over Theratechnologies Board for the past ten years, chose the occasion of the Annual Meeting to announce that he is passing on the Chairman's responsibilities while remaining a member of the Board. "The strength that we have achieved at the Board level has led me to decide that now is the best time for me to pass the Chairman's role on to younger hands. Having just been re-elected, I will, of course, remain a member of the Board and offer as much support and guidance as is possible to my successor," Mr. de Grandpre told shareholders.

Mr. Paul Pommier, a former investment banker with National Bank Financial and long-time member of the Company's board of directors, has been named to replace Mr. de Grandpre as Chairman.

Earlier in the meeting, shareholders heard from Company President and Chief Executive Officer, Yves Rosconi. Mr. Rosconi summarized the positive Phase 3 clinical results that the Company announced last December. While the Company's share price soared following the announcement of the results, Mr. Rosconi told shareholders, "the positive phase 3 results, which are clearly good news, are not the end of a story but rather an exciting new beginning for our Company."

Mr. Rosconi went on to outline Theratechnologies' plans to retain the intellectual property rights to its lead drug candidate TH9507. "Our plan is to complete the development of TH9507 in house and keep the commercial rights. This could be done in different ways including working with a commercial partner to establish a sales force and marketing infrastructure for North America", he said.

The Company President sees attractive shareholder value potential from an eventual market launch. "We estimate that the North American and European markets for treating HIV-associated lipodystrophy could amount to around $500 million per annum," Mr. Rosconi stated. "And more important than sales, we believe that the returns to our investors will be very meaningful and much greater than what can be achieved by out-licensing the product," he said.

Chief Financial Officer Luc Tanguay described a healthy financial situation for shareholders, citing a liquidity position of $84 million at the end of February 2007. "We know our financing needs over the next two years and we are well-financed to meet those needs," Mr. Tanguay stated.

Mr. Rosconi concluded by summarizing Theratechnologies business plan. "We are pushing hard to bring TH9507 to market; and, as we go, we are developing the necessary capabilities to manage every aspect of the biopharmaceutical value chain. The ultimate goal is to create value for shareholders by building an integrated biopharmaceutical company and with your continued support we will get there," he told shareholders.

About Theratechnologies

Theratechnologies (TSX:TH) is a Canadian biopharmaceutical company that discovers or acquires novel therapeutic products for development and commercialization. These products target unmet medical needs in commercially attractive specialty markets. The most advanced program is TH9507, in Phase 3 clinical development in HIV-associated lipodystrophy. The Company also has other promising projects at earlier stages of development.

Forward-looking statements

This press release contains forward-looking statements regarding the future plans of the Company and expectations about the TH9507 Phase 3 clinical program and the eventual commercialization of TH9507. By their very nature, these statements involve uncertainties and inherent risks, both general and specific, which give rise to the possibility that predictions will not materialize. We therefore caution investors against placing undue reliance on these statements. We refer you to pages 16 - 18 of the 2006 annual report, which contain a more exhaustive analysis of the risks and uncertainties connected to the business of the Company. We have no obligation to update the forward-looking statements and we do not undertake to do so.

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