FOR IMMEDIATE RELEASE:
September 30, 2003

Inspire Pharmaceuticals opens NASDAQ Stock Market

Research Triangle Region, N.C. - Inspire Pharmaceuticals Inc. CEO Christy L. Shaffer and President Greg Mossinghoff presided over the Market Open today. They are the first life science company to open NASDAQ.

Inspire, listed with NASDAQ in August 2000, recently received notification that the U.S. Food and Drug Administration accepted for filing the company's new drug application for diquafosol tetrasodium ophthalmic solution, a potential new treatment for dry eye. FDA action is expected by the end of 2003.

Durham-based Inspire, which began operations in 1995, discovers and develops new drugs to treat diseases characterized by deficiencies in the body's innate defense mechanisms of mucosal hydration and mucociliary clearance, as well as other non-mucosal disorders.

Inspire's lead product candidates target ophthalmic and respiratory diseases with inadequate current treatments. Inspire has development and commercialization alliances with Allergan Inc., Santen Pharmaceutical Co. Ltd. and Kirin Brewery Co. Ltd., and a collaboration with Cystic Fibrosis Foundation Therapeutics. Inspire's products are based on proprietary technology relating to P2Y2 receptors and to non-P2Y2 receptors that show therapeutic promise.

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