Spectrum Pharmaceuticals Announces Year-End, Special Cash Dividend of $0.15 per Share of Common Stock

Spectrum Pharmaceuticals Announces Year-End, Special Cash Dividend of $0.15 per Share of Common Stock

<0> Spectrum Pharmaceuticals, Inc.Shiv Kapoor, 702-835-6300Vice President, Strategic Planning & Investor Relations </0>

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 that its Board of Directors has approved the payment of a year-end special dividend of $0.15 to holders of common stock of record at close of business on December 20, 2012. The dividend will be paid on or about December 28, 2012. Future special cash dividends will be at the discretion of the Board of Directors.

“Our year-end dividend is based on our successful growth in revenue and profits this year, including the growth in our last quarter’s sales and profits, and reflects our confidence in our ability to generate future returns for shareholders,” said Rajesh C. Shrotriya, M.D., Chairman, President and Chief Executive Officer of Spectrum Pharmaceuticals, Inc. “In addition, we feel this is an appropriate way to provide an additional return on investment to our many loyal shareholders who have been supporting us in our ongoing efforts in building such an exciting company. With three marketed products, an expanding international footprint, pending late-stage clinical data, a growing R&D pipeline, and a leading team of managers, we are excited about the positive direction of Spectrum and our potential for further growth in meeting the needs of the oncology community and adding value for our shareholders.”

Spectrum Pharmaceuticals is a leading biotechnology company focused on acquiring, developing, and commercializing drug products, with a primary focus in oncology and hematology. Spectrum and its affiliates market three oncology drugs ─ FUSILEV (levoleucovorin) for Injection in the U.S.; FOLOTYN (pralatrexate injection), also marketed in the U.S.; and ZEVALIN (ibritumomab tiuxetan) Injection for intravenous use, for which the Company has worldwide marketing rights. Spectrum's strong track record in in-licensing and acquiring differentiated drugs, and expertise in clinical development have generated a robust, diversified, and growing pipeline of product candidates in advanced-stage Phase 2 and Phase 3 studies. More information on Spectrum is available at .

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