INDUSTRY

Pharsight Corporation, a leading provider of software and strategic services designed to optimize clinical drug development, today announced that it has signed an extension agreement with a current client that is one of the world's largest developers and manufacturers of medications for humans and animals. "We believe this agreement illustrates the growing acceptance and success of quantitative modeling and simulation technology for use in the clinical drug development process," said Shawn O'Connor, president and chief executive officer of Pharsight. "In addition, we consider the fact that this important client, one of the world's largest and well-known pharmaceutical companies that has been using our consulting services since 1998, has chosen to extend our partnership as further validation of our position as a leader in this science. We are delighted that we have been re-engaged to continue to help lead the ongoing development of their in-house modeling and simulation teams and believe that we will add significant value to their drug development process." Under the terms of the agreement, Pharsight will develop and deliver a training curriculum customized for the client's in-house modeling and simulation team located in one of their European facilities. Pharsight will also support the overall decision making process in several areas including dosage selection and post-approval product market positioning. The agreement began August 1, 2004, will remain in effect thru July 31, 2005 and has an annual value of up to $1 million.