TAP INITIATES PHASE III STUDIES FOR INVESTIGATIONAL NEW GASTROENTEROLOGY PRODUCT

Lake Forest, Ill., Aug. 30, 2005 - TAP Pharmaceutical Products Inc. today announced that it is initiating Phase III studies for an investigational new product, TAK-390MR, for the treatment of acid-related disorders. In addition to the development of TAK-390MR, TAP will be focusing development efforts on other investigational products for gastroenterological conditions.

Licensed from Takeda Pharmaceutical Company Limited, TAK-390MR employs a new modified release (MR) technology on an enantiomer of lansoprazole.

"Phase I clinical trial data have shown that TAK-390MR may have the potential to bring additional benefits to patients who suffer from acid-related diseases," said François-Xavier Frapaise, MD, vice president of research and development for TAP. "We are enthusiastic to initiate a comprehensive Phase III clinical program involving more than 5,000 patients."

TAP has been a vital part of the gastroenterological community for over ten years, supporting important research and education for patients and physicians about acid-related disorders.

"TAP is committed to our mission of bringing important medicines to patients who need them by identifying and developing high-potential products," said Alan MacKenzie, president of TAP. "We are excited about the potential of TAK-390MR and advancing our gastroenterology franchise."

About TAP Pharmaceutical Products Inc.

TAP Pharmaceutical Products Inc., located in Lake Forest, Ill., is a joint venture between Abbott, headquartered in Abbott Park, Ill., and Takeda Pharmaceutical Company Limited, of Osaka, Japan. TAP markets Prevacid® (lansoprazole) and Lupron Depot® (leuprolide acetate for depot suspension). For more information about TAP Pharmaceutical Products Inc., and its products, visit the company's Web site at www.tap.com.