La Jolla Pharmaceutical Company Analyst Initiation of Coverage: Steer Clear of this Company with a History of Failure by BrokerBank Securities, Inc.

NEW YORK, July 17, 2014

In January 2014, the Decision Resources Group (DRG) -- a subsidiary of Piramal Enterprises offering information and insights on important sectors of the healthcare industry -- estimated that the total chronic kidney disease (CKD) market was worth around $11 billion in 2012. However, DRG only sees that market growing another $700 million by 2022 due to generic and biosimilar competition in the G7 markets and changes in reimbursement practices in the US. Nevertheless, LJPC believes it can capture a significant portion of the market with their GCS-100 drug candidate given that nearly 49 million adults in the United States suffered from CKD resulting in close to 89,000 deaths in 2010, while close to 550,000 were treated for end-stage renal disease (ESRD).

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