Dow Foam Granulation Technology Licensed to Bristol-Myers Squibb for Innovative Tablet Manufacture

Midland, MI - August 30, 2007

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Dow Wolff Cellulosics, a business unit of The Dow Chemical Company, today announced a commercial contract with Bristol-Myers Squibb (NYSE: BMY) to use Dow’s foam granulation technology in the development and manufacture of tablets intended for clinical and commercial use.

The inherently large surface areas of foams provide more efficient particle coverage than may be achieved by conventional spray technology.  Elimination of spray nozzles removes some of the variables that are commonly encountered in spray granulation. It has been observed by Dow Wolff Cellulosics that particle size distribution is virtually unaffected by foam addition rate; this leads to a dramatic simplification in product scale-up.  Drug content uniformity is also improved which is especially important in low-dose formulations.

“Tablets of all kinds have been manufactured the same way for nearly 50 years,” said Philip Pilnik, global market manager for pharmaceuticals at Dow Wolff Cellulosics.  “This new technology allows for fast, simple, and cost effective granulation and could minimize issues associated with conventional processes.  Without modifying existing equipment and using a low-cost foam generator, the manufacturing process uses less water than traditional wet granulation processing while rapidly coating particle surfaces and shortening processing time.”

Dow Wolff Cellulosics offers multi-functional excipients – METHOCEL™ and ETHOCEL™ cellulose ethers and POLYOX™ poly(ethylene) oxide resins – that have been used in pharmaceutical formulations for more than 40 years including applications such as controlled release, tablet coating, hot melt extrusion and granulation.  Additional specific information can be found on www.dowexcipients.com.

About Dow Wolff Cellulosics

A preferred development partner in its markets, Dow Wolff Cellulosics supplies high-performance cellulose derivatives and complementary chemistries, with formulation know-how for a broad variety of end-use products in construction, food, personal care, pharmaceuticals, paint and other specialty industrial applications.

A business unit of The Dow Chemical Company, Dow Wolff Cellulosics was created on July 01, 2007 as a new business encompassing the activities of Wolff Walsrode and Dow’s Water Soluble Polymers business.  On a pro-forma basis, Dow Wolff Cellulosics had combined revenues of more than $1 billion in 2006 and employed 2,200 people worldwide.  More details about Dow Wolff Cellulosics are on the Web at www.dowwolffcellulosics.com

About Dow

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For Editorial Information:

Michael Altmann, Dow Wolff Cellulosics, maltmann@dow.com

Urszula Murphy, Gibbs & Soell Public Relations, umurphy@gibbs-soell.com