Robert F. Apple, Chief Operating Officer
InKine Pharmaceutical Company, Inc.

Donald C. Weinberger
Wolfe Axelrod Weinberger Assoc. LLC
212-370-4500, 212-370-4505 fax
[email protected]



BLUE BELL, PA August 24, 2004 -- InKine Pharmaceutical Company, Inc. (Nasdaq: INKP) today announced the appointment of Jeffrey S. Arcara to Vice President of Commercial Development. Mr. Arcara will be responsible for all areas related to the Company’s marketing and business development opportunities both inside and outside the United States. Mr. Arcara will report directly to Leonard S. Jacob, M.D., Ph.D., InKine’s Chairman and Chief Executive Officer.

“Jeff has been a high achiever on the fast track since joining InKine in 2000. He has been instrumental to the evolution of the Visicol® message and invaluable in setting and implementing strategies and developing opportunities,” said Dr. Jacob. “We are delighted to have someone of Jeff’s abilities at InKine and look forward to working with him in his new position,” added Dr. Jacob.

Mr. Arcara joined InKine four years ago as Director of Marketing and has over 14-years of pharmaceutical marketing and sales experience. Prior to joining InKine, he held various pharmaceutical marketing and sales positions at Centocor and Abbott Laboratories. Mr. Arcara received his MBA from the Anderson Graduate School of Management at UCLA.

“I am very excited about our franchise and look forward to expanding Visicol®‘s use through market share growth, indication expansion, and new market entrance.” said Mr. Arcara. “I am looking forward to contributing to the future growth of our product portfolio and developing new opportunities,” added Mr. Arcara.

About InKine Pharmaceutical
InKine Pharmaceutical Company, Inc. is a publicly traded specialty pharmaceutical company focused on developing and commercializing pharmaceutical products for the diagnosis and treatment of gastrointestinal disorders. The Company's development strategy is to acquire late-stage drug candidates with short time lines to commercialization. The Company's franchise product, Visicol® is the only tablet purgative preparation indicated for bowel cleansing prior to colonoscopy. InKine's second product, IB-Stat®, is an oral hyoscyamine spray for the treatment of a variety of indications. The Company is also promoting VSL#3®, a probiotic that is effective in treating certain gastrointestinal disorders. Additionally, the Company is developing INKP-102, an advanced generation purgative, which recently completed Phase II clinical trials for bowel cleansing prior to colonoscopy, Visicol® for use as a laxative in treating patients with constipation and Colirest™, which is in clinical trials for the treatment of Crohn's disease. For further information, please visit InKine on its web site http://www.inkine.com.

In addition to historical facts or statement of current condition, this press release and other statements made from time to time by representatives of the Company contain or may contain forward-looking statements. Forward-looking statements provide InKine's current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings projections, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning. InKine's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties such as those set forth in its reports on Form 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, InKine does not intend (and it is not obligated) to update publicly any forward-looking statements. This discussion is permitted by the Private Securities Litigation Reform Act of 1995.