Milberg Weiss Announces the Filing of a Class Action Suit against Barrier Therapeutics, Inc. and Certain of Its Officers and Directors on Behalf of Investors

Business Wire, Nov 15, 2005

NEW YORK -- First graph, first sentence of release should read: NASDAQ:BTRX (sted NASDAQ:BXTR).

The corrected release reads:

MILBERG WEISS ANNOUNCES THE FILING OF A CLASS ACTION SUIT AGAINST BARRIER THERAPEUTICS, INC. AND CERTAIN OF ITS OFFICERS AND DIRECTORS ON BEHALF OF INVESTORS

The law firm of Milberg Weiss Bershad & Schulman LLP announces that a class action lawsuit was filed today, on behalf of all persons who purchased or otherwise acquired the securities of Barrier Therapeutics, Inc. ("Barrier Therapeutics" or the "Company") (NASDAQ: BTRX) between April 29, 2004 and June 29, 2005 inclusive (the "Class Period"), seeking to pursue remedies under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). A copy of the complaint filed in this action is available from the Court, or can be viewed on Milberg Weiss's website at: http://www.milbergweiss.com

The action is pending in the District of New Jersey against defendants Barrier Therapeutics, Geert Cauwenbergh (Chair and CEO), Anne M. Vanlent (CFO) and Charles T. Nomides (COO).

If you purchased or otherwise acquired the securities of Barrier Therapeutics between April 29, 2004 and June 29, 2005 inclusive, you may, no later than December 12, 2005, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Milberg Weiss Bershad & Schulman LLP, or other counsel of your choice, to serve as your counsel in this action.

The complaint alleges that Barrier Therapeutics is a biopharmaceutical company engaged in the discovery, development and commercialization of dermatological products and that, at the commencement of the Class Period and thereafter, defendants stated that two products, among others, were in Phase III clinical trials: (a) Hyphanox, an oral formulation of itraconazole, an antifungal agent that purportedly treated vaginal yeast infections as well as or better than fluconazole, the active ingredient in the most widely prescribed oral treatment for this disease, Diflucan and (b) Zimycan, an antifungal agent in a zinc oxide and petrolatum base used for treatment of diaper rash.

Defendants' statements were materially false and misleading because they failed to disclose that: (a) the Company had not performed its clinical trials of Zimycan in conformity with FDA guidelines, (b) Hyphanox did not have a better safety or efficacy profile than fluconazole/Diflucan and, therefore, (c) defendants lacked any reasonable basis for their positive statements about the market opportunities presented by Hyphanox. The truth began to emerge on June 29, 2005, when defendants announced that the Company's Phase III trial results failed to demonstrate that Hyphanox worked as well as Fluconazole for the treatment of vaginal yeast infections. Following this announcement, on June 30, 2005, shares of the Company's stock fell by more than $6.75 per share -- a decline of more than 45% -- to below $8.00 per share in regular trading on the NASDAQ on very heavy volume.

Milberg Weiss Bershad & Schulman LLP (http://www.milbergweiss.com) is a firm with over 120 lawyers with offices in New York City, Los Angeles, Boca Raton, Delaware, and Washington D.C., and is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in many important actions on behalf of defrauded investors, consumers, and others for nearly 40 years. Please contact the Milberg Weiss website for more information about the firm. If you wish to discuss this action with us, or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following attorneys:

Steven G. Schulman
Peter E. Seidman
Andrei V. Rado
One Pennsylvania Plaza, 49th fl.
New York, NY  10119-0165
Phone number: (800) 320-5081
Email: sfeerick@milbergweiss.com
Website: http://www.milbergweiss.com