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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 6, 1996
ROBERTS PHARMACEUTICAL CORPORATION
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(exact name of registrant as specified in its charter)
New Jersey 1-1-432 22-2429994
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
MERIDIAN CENTER II
4 Industrial Way West
Eatontown, New Jersey 07724
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: 908-389-1182
MERIDIAN CENTER II
4 Industrial Way West
Eatontown, New Jersey 07724
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(Former name or former address, if changed from last report)
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Item 5. Other Events
Roberts Pharmaceutical Corporation announced today that it has
agreed in principle to license from Eli Lily and Co. three developmental
compounds. As part of the agreement, Lilly will license to Roberts all patent
rights covering these products.
Under the terms of the agreement, Lilly will receive a signing fee,
milestone payments and royalties for products that result from this licensing
agreement.
Two of the products are being developed for Functional Bowel Disorders
(FBD), including irritable bowel syndrome and non-ulcer dyspepsia. The Lilly
compounds licensed to Roberts could offer consumers improved alternatives and
may represent potential breakthroughs for the treatment of FBD.
A Phase II efficacy trial has just been completed for the third
compound, tazofelone. The product will be indicated for the treatment of
Inflammatory Bowel Disease (IBD), including ulcerative colitis and Crohn's
disease. The worldwide IBD market is estimated to be over $350 million.
Tazofelone could offer consumers an important alternative to existing
treatments for IBD and might expand the IBD marketplace.
The company said that these compounds significantly enrich the overall
potential of Roberts pipeline and this arrangement with Lilly is another example
of Roberts ability to form important partnerships within the pharmaceutical
industry.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ROBERTS PHARMACEUTICAL CORPORATION
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(Registrant)
Date: November 8, 1996 By: /s/ Anthony A. Rascio
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Anthony A. Rascio
Vice President
