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June 23, 2009

Cougar Biotechnology Announces Dismissal of Class Action Complaint Seeking to Enjoin Tender Offer and Termination of Hart-Scott-Rodino Waiting Period

Los Angeles, CA, June 23, 2009 -- Cougar Biotechnology, Inc. (NASDAQ: CGRB) announced today the voluntary dismissal by the plaintiff of a class action complaint filed on May 28, 2009 in the Superior Court of the State of California, Los Angeles County. The complaint, captioned Puzanov v. Cougar Biotechnology, Inc., et al., Case No. BC 414586, sought to enjoin the tender offer commenced by Kite Merger Sub, Inc., a wholly-owned subsidiary of Johnson & Johnson (NYSE: JNJ), for all of the outstanding shares of Cougar Biotechnology's common stock at a price of $43.00 per share. Cougar will pay no settlement or attorneys' fees or other expenses of the plaintiff in connection with dismissal of the complaint.

Cougar also noted that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) applicable to the tender offer was terminated on June 17, 2009. The termination of the HSR waiting period satisfies one of the conditions of the tender offer. Completion of the tender offer remains subject to the tender of a majority of Cougar's outstanding shares of common stock on a fully diluted basis and the satisfaction of certain other conditions.

About Cougar

Cougar Biotechnology, Inc. is a Los Angeles-based biotechnology company, established to in-license and develop clinical stage drugs, with a specific focus on the field of oncology. Cougar's oncology portfolio includes CB7630, a targeted inhibitor of the 17alpha-hydroxylase/c17,20 lyase enzyme, which is currently being tested in Phase III clinical trials in prostate cancer and a Phase I/II trial in breast cancer; CB3304, an inhibitor of microtubule dynamics, which is currently in a Phase I trial in multiple myeloma; and CB1089, an analog of vitamin D, which has been clinically tested in a number of solid tumor types.

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Contact

Cougar Biotechnology, Inc., +1-310-943-8040

Alan H. Auerbach
Chief Executive Officer and President
ahauerbach@cougarbiotechnology.com

Mariann Ohanesian
Director of Investor Relations
mohanesian@cougarbiotechnology.com

Russo Partners, LLC
David Schull +1 212-845-4271
David.schull@russopartnersllc.com

Andreas Marathovouniotis +1 212-845-4253
Andreas.marathis@russopartnersllc.com



Cougar Biotechnology, Inc.
10990 Wilshire Blvd, Suite 1200
Los Angeles, CA 90024
(310) 943-8040 Main
(310) 943-8059 Fax