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Pharmacopeia and Pharmacia end research pact

PRINCETON, N.J., July 5 (Reuters) - Drug discovery firm Pharmacopeia Inc. <PCOP.O> said
Wednesday it ended its research collaboration with Pharmacia Corp. <PHA.N> six months early,
replacing it with a new agreement.

Pharmacia ended the agreement as a result of its merger with Monsanto Co., Pharmacopeia said.

Under the new agreement, Pharmacia will continue to develop certain lead compounds identified by
Pharmacopeia under the original research collaboration.

As a result of its decision to prematurely end the research collaboration, Pharmacia has paid
Pharmacopeia a termination fee, which will give Pharmacopeia the same revenue that it would have
received under the full two-year research collaboration.

Pharmacia`s early termination is not expected to cause any negative impact on current year earnings
expectations, the company said.

Pharmacopeia also said that it had identified novel lead compounds against three Pharmacia targets,
resulting in milestone payments due to Pharmacopeia by Pharmacia.

Pharmacia`s rights to all lead compounds have terminated, but Pharmacia intends to repurchase
certain rights to two classes of novel lead compounds identified by Pharmacopeia under the original
research collaboration and to continue the development of these compounds, Pharmacopeia said.

Shares of Pharmacopeia were down 1-5/8 at 43-1/4; Pharmacia was up 1-1/4 at 54-1/8. ((Angela
Moore, New York Healthdesk, [phone]))

REUTERS



von ulfer 05.07.00 18:59:33 1237075
Hallo Leute, hier ist die zweite Nachricht des heutigen Tages:

Pharmacopeia and Pharmacia Restructure Drug Discovery Collaboration

PRINCETON, N.J., July 5 /PRNewswire/ -- Pharmacopeia, Inc. (Nasdaq: PCOP) today
announced that Pharmacia Corporation ("Pharmacia") has ended, six months early, the two-year
research collaboration originally established by the two companies in December 1998. Replacing
the research collaboration will be a new agreement under which Pharmacia will continue to develop
certain lead compounds identified by Pharmacopeia under the original research collaboration.
Pharmacia has cited its change in strategic direction as a consequence of its merger with Monsanto
as the reason for its actions.

As a result of its decision to prematurely end the research collaboration, Pharmacia has paid
Pharmacopeia a termination fee, which will give Pharmacopeia the same revenue that it would have
received under the full two- year research collaboration. As a result, Pharmacia`s early termination
is not expected to cause any negative impact on current year earnings expectations.

Pharmacopeia also announced that it had identified novel lead compounds against three Pharmacia
targets, resulting in milestone payments due to Pharmacopeia by Pharmacia. Pharmacia`s rights to
all lead compounds have terminated as a result of its early termination of the research collaboration.
However, Pharmacia intends to repurchase, for a guaranteed upfront payment, certain rights to two
classes of novel lead compounds identified by Pharmacopeia under the original research
collaboration and to continue the development of these compounds. In addition to the upfront
payment for the repurchase of these two novel classes of compounds, Pharmacopeia may receive
milestones as these lead compounds progress through development. Pharmacopeia expects that this
new agreement will be finalized in July. Pharmacopeia also has the ability to market to third parties
all remaining lead compounds to which Pharmacia has forfeited rights as a result of its early
termination.

"We understand Pharmacia`s decision to modify our relationship given the strategic changes
associated with their merger," said Joseph A. Mollica, Ph.D., Pharmacopeia`s Chairman, President,
and CEO. "The discovery successes we had achieved for them to date leave us with the potential
for future milestones and also with additional lead compounds that we may leverage into new
funded drug discovery programs. Furthermore, the fees paid to us by Pharmacia will make the
impact of its decision negligible on current year revenue and earnings expectations."

Pharmacopeia (www.pharmacopeia.com) is a leader in enabling science and technology that
accelerates drug discovery and chemical development. Pharmacopeia`s Drug Discovery Services
segment integrates proprietary small molecule combinatorial chemistry, high-throughput screening
and informatics to accelerate its customers` drug discovery efforts. Pharmacopeia`s Software
segment, which includes MSI (www.msi.com) and Synopsys Scientific Systems
(www.synopsys.co.uk) develops and commercializes molecular modeling, simulation and
informatics software and services. The drug discovery services and software technologies are
integrated to support: 1) software sales and systems integration services for pharmaceutical,
biotechnology, and chemical research, and 2) lead identification and optimization for drug
discovery. Pharmacopeia employs approximately 550 people, generated 1999 revenues of
approximately $104 million, and is headquartered in Princeton, NJ. Regional operations are in San
Diego, CA; Burlington, MA; Cambridge, England; Leeds, England; Paris, France; Munich,
Germany and Tokyo, Japan.

When used anywhere in this document, the words "expects", "believes", "anticipates", "estimates"
and similar expressions are intended to identify forward-looking statements. Pharmacopeia has
based these forward-looking statements on its current expectations about future events. Such
statements are subject to risks and uncertainties including, but not limited to, the successful
implementation of Pharmacopeia`s new strategic plan, the acceptance of new products, the
obsolescence of existing products, the resolution of existing and potential future patent issues,
additional competition, changes in economic conditions, and other risks described in documents
Pharmacopeia has filed with the Securities and Exchange Commission, including its most recent
report on Form 10-K and subsequent reports on Form 10-Q. All forward- looking statements in
this document are qualified entirely by the cautionary statements included in this document and such
filings. These risks and uncertainties could cause actual results to differ materially from results
expressed or implied by forward-looking statements contained in this document. These
forward-looking statements speak only as of the date of this document. Pharmacopeia disclaims
any undertaking to publicly update or revise any forward-looking statements contained herein to
reflect any change in its expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.

/CONTACT: Sue Rodney, Manager, Investor Relations of Pharmacopeia, Inc., 609-452-3600, or
[e-mail]/

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