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Spectrum Pharmaceuticals Appoints Lee F. Allen, M.D., Ph.D., Industry Veteran, As Chief Medical Officer

Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology, today announced the appointment of Lee F. Allen, M.D., Ph.D., as Chief Medical Officer. Dr. Allen will be responsible for leading the clinical development of Spectrum’s product pipeline, including belinostat, for which the Company anticipates an NDA filing mid-year, apaziquone, and glycol-free formulation of melphalan for both of which the NDA filings are expected in 2014. Dr. Allen brings over 15 years of biotech and pharma experience, as well as over 10 years of extensive research experience with over 40 papers published. He will report to Ken Keller, Executive Vice President and Chief Operating Officer. Spectrum also announced today that Dr. Steve Fruchtman, previously Chief Medical Officer at Spectrum, will take on the new role of Senior Vice President, Hematology and Oncology R&D, as of March 18, 2013. In this newly created position, he will report directly to Dr. Allen.

"We are pleased to announce the appointments of Lee Allen as Chief Medical Officer and Steve Fruchtman as head of hematology and oncology R&D," said Rajesh C. Shrotriya, M.D., Chairman, President and Chief Executive Officer of Spectrum Pharmaceuticals, Inc. "Lee Allen has had a distinguished career in industry, including leadership positions at both Wyeth and Pfizer where he successfully advanced these companies’ respective oncology portfolios. He also is a hematologist and oncologist, and will be intimately involved with the advancement of belinostat, apaziquone and melphalan as these product candidates near NDA filing. Steve Fruchtman has been key to our success in advancing our focused pipeline.”

"I am very excited to join Spectrum, which I believe has a very promising portfolio of late-stage compounds," said Dr. Allen. "The Company has the prospect of being able to introduce two to three new anti-cancer products by 2015 or 2016, including a propylene glycol-free formulation of melphalan recently acquired by the Company for which an NDA filing is anticipated in the first half of 2014. I am eagerly looking forward to working with the Spectrum team in bringing these important treatments to cancer patients as quickly as possible."

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