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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):
April 16, 1998
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: 732-389-1182
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 today announced that it has
acquired the exclusive U.S. rights to market Pentasa/(R)/, a patented
gastrointestinal drug for ulcerative colitis, from Hoechst Marion Roussel, the
pharmaceutical company of Hoechst AG (NYSE:HOE).
Roberts said it expects the first 12-months of Pentasa sales to exceed
$40 million. This would make Pentasa the Company's largest revenue generating
drug and one of the highest gross-profit-margin products in Roberts' portfolio
of marketed pharmaceuticals. The transaction is expected to be accretive to the
Company's income in 1998. It is expected that Pentasa will improve cash flow
which will help fund an expected substantial increase in R&D investments. The
Company is also anticipating 1998 per share earnings substantially to exceed
current estimates.
The cash transaction will involve payments to Hoechst Marion Roussel
totaling approximately $130 million and that Donaldson, Lufkin & Jenrette
Securities Corporation is arranging for $100 million in financing for the
transaction.
Pentasa strongly complements Roberts' interests in the gastrointestinal
(GI) marketplace.
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: April 21, 1998 By: /s/ Anthony A. Rascio
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Anthony A. Rascio
Vice President
