Corporate

We are a specialty pharmaceutical company focused on acquiring, developing and commercializing proprietary products that address the needs of patients treated by gastroenterologists or primary care physicians. Our current efforts are primarily focused on the commercialization of ZEGERID® (omeprazole/sodium bicarbonate) Capsules and Powder for Oral Suspension for the treatment of upper gastrointestinal diseases and disorders, including gastroesophageal reflux disease (GERD). ZEGERID was developed by us based on our proprietary, immediate-release proton pump inhibitor (PPI) technology (see Products for more information). In the U.S. prescription market, our commercial organization promotes our ZEGERID products to a targeted group of gastroenterologists and primary care physicians who accounted for writing prescriptions for approximately one-third of the $14 billion market for PPIs in 2007.

To further leverage our proprietary PPI technology and diversify our sources of revenue, we have entered into strategic alliances with two global pharmaceutical companies. In October 2006, we signed an exclusive license agreement with Schering-Plough Consumer Healthcare Products, Inc. (Schering-Plough) for over-the-counter (OTC) ZEGERID products in the U.S. and Canadian OTC markets. Schering-Plough submitted a New Drug Application to the U.S. Food and Drug Administration for an OTC ZEGERID branded product in March 2008. In December 2007, we announced a license agreement with Glaxo Group Limited, an affiliate of GlaxoSmithKline, plc (GSK), to develop prescription and OTC immediate-release omeprazole products in up to 114 countries including countries in Africa, Asia, the Middle-East, and Central and South America. We also signed a distribution agreement with GSK to sell ZEGERID prescription products in Puerto Rico and the U.S. Virgin Islands, and GSK launched ZEGERID Capsules and Powder for Oral Suspension in these territories in February 2008.

Our goal is to become a leading specialty pharmaceutical company. We plan to continue to seek to maximize the value of our PPI technology, as well as expand our product portfolio through co-promotion, licensing or acquisition of marketed or late stage proprietary products. In 2007 we reported total revenues of $94.4 million, compared to 2006 total revenues of $49.2 million. We reported a net loss in 2007 of $44.3 million, a decrease of 22% compared with the prior year. Our stock trades on the NASDAQ Global Market under the symbol "SNTS".