The Board of Directors of NeoTherapeutics Inc announced the appointment of Rajesh C. Shrotriya as Chairman and Chief Executive Officer of the Company effective immediately. Dr. Shrotriya succeeds Alvin J. Glasky who has retired with immediate effect. Dr. Glasky will continue to serve the Company as a member of the Board of Directors. Since joining NeoTherapeutics in September 2000, Dr. Shrotriya has served as the Company's President and Chief Operating Officer.

"It is an honor to be chosen by the Board of Directors to lead the Company," said Dr. Shrotriya. "NeoTherapeutics faces some challenges, but also has very exciting opportunities and some very talented people who have the necessary skills and experience. We plan to move swiftly and decisively to create value for stockholders through the roll out and execution of a new strategic plan which will include a reduction in monthly expenses and the elimination of certain positions."

Dr. Shrotriya's pharmaceutical industry experience spans over 29 years, during which time he has been awarded several patents and has authored or co- authored over 35 scientific publications. Earlier in his career, Dr. Shrotriya spent 18 years at Bristol-Myers Squibb Company, most recently as Executive Director, Worldwide Central Nervous System Clinical Research, where among his other responsibilities, he directed clinical research in anxiety, depression, analgesics and Alzheimer's disease. He has also served as a Medical Advisor to Hoechst Pharmaceuticals and as an attending physician and member of the faculty at St. Joseph Hospital in Stamford, CT. In addition, he received a certificate for Advanced Biomedical Research Management from Harvard University.

Prior to joining NeoTherapeutics, Dr. Shrotriya was Executive Vice President and Chief Scientific Officer of SuperGen Inc where he was credited with much of the company's growth and clinical and commercial success. He was also responsible for strategic alliances involving several late-stage drugs and setting regulatory strategy in consultation with the FDA. Earlier, Dr. Shrotriya was Vice President and Chief Medical Officer of MGI Pharma Inc. At MGI, he was responsible for setting and implementing overall strategy for the clinical development of compounds in the fields of oncology, rheumatology and others as well as evaluating licensing opportunities and providing technical support and direction to marketing and sales.