Phosphagenics Limited has become aware that the Mylan worldwide US online product catalogue has been updated. It now includes a generic daptomycin injectable product (Daptomycin Product) and also shows a list of wholesalers for the Daptomycin Product. Mylan Laboratories Limited (Mylan LL) received FDA approval to market a generic daptomycin injectable in the USA on 6 June 2018 under ANDA 205037. On 27 July 2018 Mylan LL's label was published on the US National Library of Medicine website identifying that the generic daptomycin product would be sold under a "Mylan" label. Under the Licensing Agreement dated 26 October 2012 (originally signed with Agila Specialties Private Limited who were subsequently acquired by Mylan LL) (Licensing Agreement) Phosphagenics' TPM technology is licensed exclusively for the development and commercialisation of a TPM/daptomycin injectable product. While Phosphagenics is not aware of whether any sales of the Daptomycin Product have been made, Phosphagenics considers that any such sales by Mylan LL or any related Mylan party would be restrained under the terms of the Licensing Agreement. Phosphagenics has accordingly reserved its rights. Shareholders are advised that while this is again an issue related to the Licensing Agreement with Mylan LL, this is a matter entirely separate to the Singapore arbitration completed in November 2017 on which both parties presently await a decision.