Christy L. Shaffer, Ph.D.,
Chief Executive Officer, and
Greg Mossinghoff,
President,
Inspire Pharmaceuticals, Inc.
opened
The NASDAQ Stock Market

Tuesday, September 30, 2003
at NASDAQ's MarketSite
in New York City.

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Inspire Pharmaceuticals, Inc.

Company Received FDA Acceptance and Priority Review for Dry Eye NDA

The NASDAQ Stock Market proudly welcomes Inspire Pharmaceuticals, Inc. [ISPH] and its CEO Dr. Shaffer and President Mr. Mossinghoff to the Market Open. Recently, Inspire received notification that the FDA accepted for filing the company's new drug application for diquafosol tetrasodium ophthalmic solution for a new treatment of dry eye. FDA action is expected by the end of 2003.

About Inspire Pharmaceuticals, Inc. [ISPH]

Inspire Pharmaceuticals, Inc. 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. Mucosal defense mechanisms are the natural way that the body defends its mucosal surfaces against dust, pollutants, bacteria and viruses. Inspire's lead product candidates target ophthalmic and respiratory diseases with inadequate current treatments and which represent large therapeutic market opportunities. Inspire has development and commercialization alliances with Allergan, Inc. (http://www.inspirepharm.com/partners.html#Allergan), Santen Pharmaceutical Co., Ltd. (http://www.inspirepharm.com/partners.html#Santen) and Kirin Brewery Co., Ltd. (http://www.inspirepharm.com/partners.html#Kirin), and has 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.