Press Release Details

Quest Diagnostics Incorporated Invests in GMP Companies, Inc. A Developer of Novel Pharmaceutical Diagnostic and Medical Device Technologies


Teterboro, NJ and Ft. Lauderdale, FL, September 8, 2000 —

"Quest Diagnostics is recognized as the market leader in diagnostic and genetic testing and information, and we believe that our collaborative efforts will help to accelerate the potential commercialization of our diagnostic products," said Bart Chernow, M.D., President and CEO of GMP Companies, Inc. "We are extremely pleased to be working with Quest Diagnostics and we expect that this initial investment in GMP will be the first in a series of steps which will be mutually beneficial for both companies."

"We decided to invest and partner with GMP Companies, Inc. because they are uniquely positioned as a technology discovery enterprise. GMP Companies has a promising pipeline of patent-protected intellectual property sourced from a broad network of leading academic medical centers, that when combined with our development expertise will enable us to collaboratively bring breakthrough medical technologies to the diagnostics market," said Dr. Surya Mohapatra, President and Chief Operating Officer of Quest Diagnostics Incorporated.

About Quest Diagnostics
Quest Diagnostics is the nation's leading provider of diagnostic testing, information and services with annualized revenues of more than $3 billion. The testing performed on human specimens helps doctors diagnose, treat and monitor disease; enables employers to detect workplace drug abuse; and supports pharmaceutical and biotechnology companies in clinical trials of new therapeutics worldwide. Quest Informatics analyzes laboratory and other medical data to help healthcare providers improve the care of patients. Additional company information can be found on the Internet at

About GMP Companies, Inc.
GMP Companies, Inc. is a global medical technology company headquartered in Fort Lauderdale, FL. The company acquires, develops and commercializes promising pharmaceutical, diagnostic, device and biotechnology products. These novel products are typically licensed from world-renowned academic medical and other research institutions. GMP has established 13 subsidiary companies and is organized in three divisions: Therapeutics, Diagnostics and Devices. These subsidiary companies have products in various stages of development and commercialization relating to the care of patients with various medical conditions including diabetes, cardiovascular diseases, neurological disorders, glaucoma and genetics disorders. GMP Companies, Inc. has received substantial investments from leading healthcare, commercial and investment institutions including Quest Diagnostics Incorporated (NYSE:DGX). In addition, GMP Companies, Inc. has established a strategic relationship with NOVA Biomedical Corporation (privately-held). To learn more about the company, visit its Web site at

The statements in this press release which are not historical facts or information may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. Certain of these risks and uncertainties are listed in the Quest Diagnostics Incorporated 1999 Form 10-K and subsequent filings.

The statements in this news release include statements which may constitute forward-looking statements. Although GMP Companies, Inc. believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. These statements may involve risks and uncertainties that could cause actual results to differ materially from the expected results. Such risks include, but are not limited to, our ability to obtain regulatory approval for and market acceptance of our products, our ability to effectively manage multiple subsidiaries and diverse products, and our ability to manage our growth.