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ProEthic Pharmaceuticals Promotes William Maichle to Senior Vice President, Product Development and Technical Operations

Montgomery, Alabama, March 2, 2006 - ProEthic Pharmaceuticals, Inc., a privately funded specialty pharmaceutical company that acquires, develops and markets niche prescription products, announced today that it has promoted Mr. William Maichle to Senior Vice President, Product Development and Technical Operations. Mr. Maichle, based in ProEthic’s Charlotte, North Carolina office, will oversee all aspects of ProEthic's branded product development, including clinical, regulatory, technical operations, quality assurance and safety. He will manage a team of clinical research professionals with decades of industry experience. He is the fifth member of ProEthic’s executive management team.

As ProEthic’s Director of Product Development, Mr. Maichle was instrumental in the North American development of the ketoprofen topical patch (licensed from Applied Pharma Research [APR], Balerna, Switzerland). In early 2005, ProEthic finalized an agreement with Endo Pharmaceuticals to sublicense the North American development of the ketoprofen patch. The agreement was valued at $24.5 million plus undisclosed royalties.

ProEthic has in-licensed its two leading product candidates from APR. Mr. Maichle will be responsible for overseeing the North American development of PRO-513 and PRO-571. PRO-513, which will be developed and marketed by Novartis Pharmaceuticals AG (Basel, Switzerland) throughout Europe and Asia, is a novel, fast-acting treatment for migraine attacks. PRO-571 is a novel, fast-acting treatment for the management of acute pain. Both compounds utilize DBT¨ technology which enhances absorption and provides an earlier onset of clinical effect. Both development programs have been initiated, and ProEthic anticipates filing marketing applications for PRO-513 in Q1 2007 and PRO-571 in Q3 2007, respectively.

“New product development is vital to our business and to improving patient health. Today’s announcement not only recognizes the critical contributions Billy has made to ProEthic, but represents an expansion of our leadership team as we advance ProEthic to its next stage of success,” said Mr. Carl Whatley, chairman and CEO, ProEthic Pharmaceuticals, Inc.

Before joining ProEthic, Mr. Maichle was a key manager in one of the largest contract research organizations in the country, where he designed and executed clinical development programs and represented clients at regulatory meetings. Mr. Maichle, who has over 10 years of pharmaceutical industry experience, is a faculty member of the Pharmaceutical Research Educational Institute and sits on the Scientific Advisory Board for a Manhattan-based pain management company. In addition, he is an active member of numerous industry organizations including the Association of Clinical Research Professionals, the American Headache Society, and the International Association for the Study of Pain. Mr. Maichle received his B.S. degree from Elizabethtown College and performed his graduate studies at Wake Forest University in Winston-Salem, NC.

About ProEthic Pharmaceuticals, Inc.

ProEthic is a privately funded specialty pharmaceutical company that acquires, develops and markets niche prescription products. ProEthic markets branded prescription allergy, respiratory, pain and men's prostate vitamin products to general and family practitioners and selected specialty physicians in rural and suburban markets in 31 states. The company develops and commercializes proprietary formulations of previously approved compounds and selectively seeks regulatory approval to market well-characterized compounds for new therapeutic indications. ProEthic has built its product portfolio and development pipeline through a combination of internal development and acquisition of late-stage drug candidates. It also markets niche generic prescription pharmaceutical products through Midlothian Laboratories LLC, a wholly owned subsidiary. For more information, please visit the ProEthic website at: www.proethic.com.