Adamis Pharmaceuticals Pre-Filled Epinephrine Syringe Categorized as a Generic by Leading Drug Database Providers

Adamis Pharmaceuticals Corporation (OTCBB:ADMP) announced on July 23 that its wholly owned subsidiary, Adamis Labs launched and shipped the first orders of the company’s Epinephrine Injection, USP, 1:1000 (0.3mg prefilled single dose syringe) (“PFS”). Today, Adamis Labs reports that at least two major data base reference companies (Medi-Span® and First DataBank®) placed the Company’s PFS in their generic category. Thousands of healthcare professionals depend on these data base reference providers for context-relevant, integrated drug information. As a result of this generic classification, several insurance providers, including Aetna® (NYSE: AET) and Blue Cross Blue Shield of Michigan have placed Adamis’ PFS in their Tier 1 category. Tier 1 presently consists of generic drugs, and thus the patient is offered the lowest co-pay available.

Rick Aloi, the President of Adamis Labs, stated, “A Tier 1 classification should equate to faster penetration into the roughly $200 million epinephrine market. Though we were hopeful that our low cost therapeutic alternative would have a positive payer formulary placement, Tier 1 was not part of original revenue projections.” Mr. Aloi is very knowledgeable concerning the epinephrine market since he played a major role in launching the EpiPen® while Director of Sales for Center Laboratories. Dr. Dennis J. Carlo, President and CEO of Adamis Pharmaceuticals, stated, “Being rated a ‘Generic’ and ‘Tier 1’ should accelerate our goal to build a strong financial base by increasing revenues and profits for the company, while at the same time providing a cost effective and possibly lifesaving medicine to the patient.”

About Adamis Pharmaceuticals

Adamis Pharmaceuticals has two wholly owned subsidiaries, Adamis Laboratories and Adamis Viral Therapies. Adamis Labs expects to launch a series of niche prescription products in the allergy and respiratory therapeutic area, beginning with the pre-filled epinephrine syringe product. Epinephrine is utilized for the treatment of extreme acute allergic reactions (anaphylaxis). The epinephrine market is segmented into four different types of allergies, the most common being food and insect venom. To complement and add to the sales efforts of Adamis Labs, Adamis Viral Therapies will be focused on the development of patented, proprietary vaccine technology that Adamis believes may provide physicians with a novel method that has the capability of generating a broad-based immunity for both B Cells (antibody) and T cells (cell mediated immunity). If successful, Adamis’ technology could lead to the development of new vaccines against a multitude of viruses, including chronic hepatitis and all forms of influenza. Adamis recently reported significant positive results pertaining to the development of its “Universal Influenza vaccine.”

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "could," "estimate," "intend," "may," and similar terminology. Any statements in this press release regarding Adamis’ business, products or potential products that are not historical facts may be considered “forward-looking statements.” The company has based these statements on management’s current preliminary expectations, assumptions and estimates. Such statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the company’s control. Predicting financial and commercial results of the launch of a new product such as the Epi PFS is inherently uncertain and subject to the risk of inaccuracy. Among other factors, if existing and required future funding are not sufficient to support sales and marketing efforts, if commercial sales and end-user acceptance of the product are not as successful as the company expects and as a result of unit sales and revenues are below management’s expectations, if the product does not compete as successfully against competing products as the company expects, or if the company incurs unexpected expenses, then the company’s profitability and financial results would be adversely affected and the company might not achieve net income in the period contemplated by the forward-looking statements in this press release or at any other time in the foreseeable future. You should also review the company’s discussion of risk factors and other disclosures in Adamis’ filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K filed by the company with the SEC. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they were made.