TAP EXPANDS GASTROENTEROLOGICAL PIPELINE BY SIGNING LICENSING AGREEMENT FOR NEW INVESTIGATIONAL PROTON PUMP INHIBITOR

Lake Forest, Ill., Sept. 8, 2005 - TAP Pharmaceutical Products Inc. today announced that it has signed a license agreement with ILYANG Pharmaceutical Company for the development and distribution of ilaprazole, a new investigational proton pump inhibitor (PPI), which will enter Phase II studies next year. Ilaprazole is the latest example of TAP's focus on development efforts for several investigational products for gastroenterological conditions.

"Based on the pharmacokinetic profile observed in Phase I clinical trials, ilaprazole may have the potential to bring additional benefits to patients who suffer from acid-related diseases," said François-Xavier Frapaise, M.D., vice president of research and development for TAP. "We are eager to further the development of this product and to learn more about the potential of ilaprazole."

TAP has the worldwide rights to ilaprazole, with the exception of South Korea and China.

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 will continue to build on its longstanding commitment to the field of gastroenterology with the development plans for TAK-390MR, ilaprazole, and potentially other investigational compounds," said Alan MacKenzie, president of TAP. "Furthermore, these developments align with our mission, which is to identify and develop high-potential products based on the needs of patients."

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.

About ILYANG Pharmaceutical Company

ILYANG Pharmaceutical Company Ltd. is headquartered in Seoul, South Korea. Founded in 1946, it has been focusing its R&D and marketing efforts on the gastroenterology and urology fields. To find out more information about ILYANG Pharmaceutical Company Ltd. and its product, visit ILYANG's website at www.ilyang.co.kr.