BioSpecifics Technologies Corp. Announces Board Authorization of up to $2 Million Stock Repurchase Program

  BioSpecifics Technologies Corp. Announces Board Authorization of up to $2
                       Million Stock Repurchase Program

PR Newswire

LYNBROOK, N.Y., Nov. 15, 2012

LYNBROOK, N.Y., Nov. 15, 2012 /PRNewswire/ --BioSpecifics Technologies Corp.
(NASDAQ: BSTC), a biopharmaceutical company developing first in class
collagenase-based products marketed as XIAFLEX® in the U.S. and XIAPEX® in
Europe and Eurasia, today announced that its Board of Directors has
reauthorized the stock repurchase program under which BioSpecifics is
authorized to repurchase up to $2 million of its outstanding common stock.
This decision reflects BioSpecifics' continued commitment to increasing value
for its stockholders and its confidence that it will achieve its goals.

Pursuant to the repurchase program, over the next year BioSpecifics plans to
repurchase stock through a broker in the open market, provided that the
timing, actual number and price per share of the stock to be purchased will be
subject to market conditions, applicable legal requirements, including Rule
10b-18 of the Securities Exchange Act of 1934, as amended, and various other
factors. BioSpecifics intends to hold any reacquired stock in treasury. The
repurchase program may be suspended or discontinued at any time by
BioSpecifics. BioSpecifics has no obligation to repurchase stock under the
repurchase program.

As of November 2, 2012, BioSpecifics had 6,391,617 shares of common stock

About BioSpecifics Technologies Corp.
BioSpecifics Technologies Corp. is a biopharmaceutical company that has
developed injectable collagenase for twelve clinical indications. Injectable
collagenase is currently marketed as XIAFLEX® in the U.S. for the treatment of
adult Dupuytren's contracture patients with a palpable cord by Auxilium
Pharmaceuticals, Inc. (Auxilium) and is approved for Dupuytren's contracture
in the European Union and Canada. XIAFLEX is also in clinical development for
the treatment of several additional promising indications: Auxilium recently
submitted a supplemental Biologics License Application (sBLA) to the FDA for
XIAFLEX for the potential treatment of Peyronie's disease based on positive
results reported from its two Phase III clinical studies. Auxilium is also
testing XIAFLEX for frozen shoulder syndrome (adhesive capsulitis) and
cellulite in Phase IIa and Phase Ib clinical trials, respectively.
BioSpecifics is currently managing the clinical development of XIAFLEX for the
treatment of human lipoma and canine lipoma, which are both in Phase II
clinical trials. Auxilium is currently partnered with Asahi Kasei Pharma
Corporation for the development and commercialization of injectable
collagenase for Dupuytren's contracture and Peyronie's disease in Japan and
with Actelion Pharmaceuticals Ltd. for these same indications in Canada,
Australia, Brazil and Mexico. Pfizer Inc. has marketing rights to XIAPEX® (the
EU trade name for XIAFLEX) for Dupuytren's contracture in 46 countries in
Eurasia through April 24, 2013. For more information, please visit

Forward Looking Statements
This release includes "forward-looking statements" within the meaning of, and
made pursuant to the safe harbor provisions of, the Private Securities
Litigation Reform Act of 1995. All statements other than statements of
historical fact are "forward-looking statements." The forward-looking
statements include statements concerning, among other things, the repurchasing
by BioSpecifics of its common stock and the confidence that BioSpecifics has
in achieving its goals. In some cases, these statements can be identified by
forward-looking words such as "believe," "expect," "anticipate," "plan,"
"estimate," "likely," "may," "will," "could," "continue," "project,"
"predict," "goal," the negative or plural of these words, and other similar
expressions. These forward-looking statements are predictions based on
BioSpecifics' current expectations and its projections about future events.
There are a number of important factors that could cause BioSpecifics' actual
results to differ materially from those indicated by such forward-looking
statements, including the ability of BioSpecifics' partner, Auxilium, and
Auxilium's partners to achieve their objectives for XIAFLEX in their
applicable territories; the potential market for XIAFLEX in a given
indication, the potential of XIAFLEX to be used in additional indications, and
the initiation, timing and outcome of clinical trials of XIAFLEX for
additional indications; the timing of regulatory filings and action; the
receipt of any applicable milestone payments from Auxilium; and other risk
factors identified in BioSpecifics' Annual Report on Form 10-K for the year
ended December 31, 2011, its Quarterly Reports on Form 10-Q for the first,
second, and third quarters of 2012, and its Current Reports on Form 8-K filed
with the Securities and Exchange Commission. All forward-looking statements
included in this release are made as of the date hereof, and BioSpecifics
assumes no obligation to update these forward-looking statements.

SOURCE BioSpecifics Technologies Corp.

Contact: BioSpecifics Technologies Corp., Thomas L. Wegman, President,
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