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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):
December 17, 1997
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 officers, 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
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Roberts Pharmaceutical Corporation announced today that they have
entered into a product transaction agreement with Searle. Roberts will receive
exclusive North American distribution rights with a future right to purchase
Slow-Mag(R), a uniquely formulated, slow-release, highly soluble and readily
absorbed form of magnesium which is essential in maintaining the heart, kidneys,
muscles and bones. Slow-Mag(R) is an ethical, over-the-counter (OTC) product
that is generally marketed directly to physicians for use in those patients
requiring magnesium supplementation. Magnesium deficiency can be associated with
cardiac arrhythmia and congestive heart failure. Roberts is actively engaged in
the development and marketing of cardiovascular agents and considers Slow-Mag(R)
to be a strong fit with its interests in the cardiovascular area.
Searle will receive a combination of cash installment payments, totaling
about $15 million over more than two years, and rights to the oral contraceptive
Norethin(TM), a product outside the principal area of therapeutic focus for
Roberts.
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: December 18, 1997 By: /s/ Anthony A. Rascio
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Anthony A. Rascio
Vice President
