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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):
September 8, 1999
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: 732-676-1200
(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 an agreement with
Orion Corporation of Finland giving Roberts the U.S. marketing rights to
Fareston(R) (toremifene citrate), an approved patent-protected treatment for
advanced breast cancer developed by Orion Pharma.
The transaction involves an up-front payment by Roberts of approximately
2.5 times Fareston's 1998 sales. Roberts has also agreed to make a milestone
payment upon FDA approval of the drug for adjuvant therapy in breast cancer.
Orion is currently engaged in Phase III studies with Fareston for this
indication.
Roberts plans to begin marketing Fareston in the fourth quarter and
expects the product to be accretive to earnings in the first twelve months of
sales.
Fareston complements Roberts' strategic interests in the oncology
market. The product has been available in the U.S. since late 1997 as a first-
line treatment for advanced or metastatic breast cancer in post-menopausal women
with estrogen receptor positive or unknown tumors. An oral anti-estrogenic drug,
Fareston inhibits estrogen-induced stimulation of DNA syntheses and cellular
replication. Unlike the current market leading anti-estrogenic agent, there have
been no cases of endometric cancer attributed to the use of Fareston after
100,000 patient years of treatment.
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: September 9, 1999 /s/ Anthony A. Rascio
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Anthony A. Rascio
Vice President
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FORWARD LOOKING STATEMENTS
Certain statements included in Item 5 of this form 8-K are intended to
be, and are hereby identified as, forward looking statements for purposes of the
safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as
amended, and Section 27A of the Securities Act of 1933, as amended. The
Registrant cautions readers that forward looking statements, including, without
limitation, those relating to the Registrant's future business prospects,
revenues, cost of sales, intangible dispositions and write-offs, continuing
operations and discontinued operations, and liquidity and capital resources, are
subject to certain risks and uncertainties, including, without limitation, the
ability of the Registrant to secure regulatory approval in the United States and
in foreign jurisdictions for the Registrant's developmental pipeline drugs, the
efforts of the Registrant's competitors and the introduction of rival
pharmaceutical products which may prove to be more effective than the
Registrant's products, general market conditions, the availability of capital,
and the uncertainty over the future direction of the healthcare industry, that
could cause actual results to differ materially from those indicated in the
forward looking statements.
