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Adams Respiratory Therapeutics and Lipocine Enter into License and Collaboration Agreement
Date:9/19/2007

ave been issued and are pending on these proprietary technologies.

Under the terms of the agreement, Adams receives an exclusive, royalty- bearing license from Lipocine to develop and market multiple prescription adult cough products in North America. Lipocine is responsible for completing the product development work and will be eligible to receive reimbursements and payments in exchange for completing certain pre-defined development milestones. Adams will be responsible for performing all aspects of clinical development, regulatory submission, manufacture and commercial operations. Financial terms of the deal are not being disclosed. Adams reconfirms that it expects diluted earnings per share in fiscal 2008 to be in the range of $1.55 to $1.75, as previously disclosed in an August 21, 2007 press release.

About Adams Respiratory Therapeutics, Inc.

Adams is a specialty pharmaceutical company focused on the late-stage development, commercialization and marketing of over-the-counter and prescription pharmaceuticals for the treatment of respiratory disorders.

About Lipocine Inc.

Lipocine Inc. is a pharmaceutical company leveraging its proprietary drug delivery technologies to commercialize innovative pharmaceutical products. Lipocine business objectives are to develop products with established drugs that have patient friendly attributes such as faster absorption, lower dose, fewer side effects, less frequent dosing, and no food effect.

Adams Respiratory Therapeutics Forward-Looking Statement

This press release contains certain "forward-looking" statements, including Adams' application of the Lip'ral(TM) technology to prescription cough products, Adams' competitiveness in the prescription cough and cold market and Adams' future financial performance. Such forward-looking statements can be identified by the words "could," "will" and similar expressions and are subject to risks and uncertainties that could cause actual results to
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SOURCE Adams Respiratory Therapeutics, Inc.
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