Founded in 1984, Sepracor was originally comprised of several diverse business units. In 1989, we embarked on a strategy of developing single isomers and active metabolites of many of the world's largest selling drugs, with the objective of developing our own proprietary pipeline of pharmaceutical products. Sepracor became a publicly traded corporation in 1991, and we subsequently divested our non-pharmaceutical business units into four different companies, retaining our core pharmaceutical business.

We were initially focused on out-licensing compounds to be developed and marketed by large pharmaceutical companies seeking to enhance their product pipelines. However, based on our development and commercialization success with XOPENEX^® brand levalbuterol HCl Inhalation Solution, in 2000 we began to focus on developing and marketing our portfolio of primary care-oriented pharmaceutical candidates ourselves. While still maintaining our focus on internal development and self-commercialization efforts, we recognize that some compounds may be more appropriate as out-licensing candidates, and will continue to explore new strategic collaborations with leading pharmaceutical companies for earlier-stage or non-core assets. As we continue to grow, we expect that we will become increasingly interested in exploring product or business acquisitions, in addition to devoting greater resources to our discovery efforts.

Sepracor's Business
Sepracor has evolved into a fully integrated pharmaceutical company with the ability to bring products through preclinical and clinical development, U.S. Food and Drug Administration (FDA) approval and into the marketplace. Between Sepracor and our out-licensing partners, we have several successful products currently on the market in the U.S., including our own proprietary products: LUNESTA^® brand eszopiclone; XOPENEX^® brand levalbuterol HCl Inhalation Solution; XOPENEX HFA^® brand levalbuterol tartrate Inhalation Aerosol; and BROVANA^® brand arformoterol tartrate Inhalation Solution.

By focusing on treatments for respiratory and central nervous system disorders, Sepracor's drug development efforts have yielded a pipeline of pharmaceutical compound candidates that are concentrated in therapeutic areas that we believe are either not addressed or are underserved by currently available pharmacotherapies and which apply to large and growing primary care indications.