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NEW YORK, Jan. 20, 2012 (GLOBE NEWSWIRE) — Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors who purchased Columbia Laboratories, Inc. (“Columbia” or the “Company”) securities. Such investors are advised to contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888-476-6529, ext. 350.

The investigation concerns whether Columbia and certain of its officers and directors issued materially false and misleading statements regarding the safety and effectiveness of the Company’s progesterone gel product Prochieve.

On December 14, 2011, the Company announced that a meta-analysis of data from five double-blind, placebo-controlled trials its progesterone gel product “significantly reduces the risk of preterm birth and neonatal morbidity.” Following this announcement, price of Columbia shares increased in heavy trading.

On January 17, 2012, a Food & Drug Administration (FDA) released documents that indicated Columbia did not sufficiently prove that the progesterone gel prevents mid-trimester births. The FDA cited concerns that the data gathered from U.S. women taking a placebo or the progesterone gel was insufficient to prove the efficacy of the drug. The success rate of the gel was not statistically significant when compared to that of the placebo, the FDA said. On this news, Columbia’s stock price declined 54%, to close at .10 per share in unusually heavy trading.

On January 20, 2012, an FDA panel voted not to recommend the approval of Prochieve. The panel also voted that Columbia did not adequately prove the gel prevents mid-trimester births in women with short cervixes.               

The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Rachelle R. Boyle
         Pomerantz Haudek Grossman & Gross LLP
         rrboyle@pomlaw.com