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SCHEDULE 14A
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INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
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<S> <C>
[ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission
Only (as permitted by Rule 14a-6(e)(2))
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MEDCO RESEARCH, INC.
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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FOR IMMEDIATE RELEASE
Contacts:
Glenn C. Andrews
Chief Financial Officer or
G. Michael Freeman
Director, Corporate Communications
Medco Research, Inc.
(919) 653-7001
MEDCO RESEARCH REPORTS THAT ISS RECOMMENDS MERGER
WITH KING PHARMACEUTICALS
RESEARCH TRIANGLE PARK, NC, February 2, 2000 - Medco Research, Inc. (NYSE:MRE)
today announced that Institutional Shareholder Services (ISS) -- the nation's
leading independent institutional stockholder advisory firm -- has recommended
that stockholders vote "FOR" Medco's proposed merger with King Pharmaceuticals
(Nasdaq: KING).
Richard C. Williams, Chairman of the Board of Medco, said: "We are very pleased
that ISS recommends that stockholders vote `FOR' Medco's merger with King. The
positive recommendation by this well-respected advisory firm provides additional
support for Medco's stockholders to approve our proposed merger.
"The King offer represents a significant premium for Medco stock, creates an
excellent strategic competitor and gives Medco stockholders the opportunity to
participate in the upside of the combination. We look forward to closing this
merger and realizing all of its benefits."
Medco Research is a pharmaceutical company engaged in the global
commercialization of cardiovascular medicines and adenosine-based products. Two
adenosine-based products successfully developed by the Company - Adenocard(R)
and Adenoscan(R)- are currently marketed and have established the value of
adenosine-receptor technology in cardiovascular medicine.
# # #
Statements contained in this release which are not historical facts are or may
constitute forward looking statements under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Although the Company believes
the expectations reflected in such forward looking statements are based upon
reasonable assumptions, it can give no assurance that its expectations will be
attained. Forward-looking statements involve known and unknown risks that could
cause the Company's actual results to differ materially from expected results.
Factors that could cause actual results to differ materially include, among
others, assimilation and other risks related to mergers; the high cost and
uncertainty of the research, clinical trials and other development activities
involving pharmaceutical products; the Company's ability to fund its activities
internally or through additional financing, if necessary; the unpredictability
of the duration and results of the U.S. FDA's review of New Drug Applications
and Investigational New Drug Applications and/or the review of other regulatory
agencies worldwide; the possible impairment of, or inability to obtain,
intellectual property rights and the cost of obtaining such rights from third
parties; intense competition; the uncertainty of obtaining, and the Company's
dependence on third parties to manufacture and sell its products; results of
pending or future litigation and other risk factors detailed from time to time
in the Company's SEC filings. The Company does not undertake to publicly update
or revise any of its forward looking statements even if experience or future
changes show that the indicated results or events will not be realized.
