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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):
May 11, 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
for a strategic alliance with Gynetics Inc. (Belle Mead, NJ) whereby Roberts
received exclusive Canadian marketing rights to PREVEN/TM/, the new Emergency
Contraceptive Kit developed by Gynetics. Under the terms of the six-year
agreement, Roberts and Gynetics will enter into a 50/50 profit sharing
arrangement for PREVEN/TM/ in Canada.
Roberts expects to introduce PREVEN/TM/ into the Canadian market in
the near term. The Company expects this transaction to be additive to earnings
with some modest benefit possible in the current year. Roberts anticipates
increasing contributions to profitability as Canadian sales of PREVEN/TM/ ramp
up.
The pills in the PREVEN/TM/ kit contain special doses of the hormones
progestin (0.25mg levonorgestrel) and estrogen (0.05mg ethinyl estradiol) that
prevent pregnancy when taken as soon as possible within 72 hours after known or
suspected contraceptive failure or unprotected sexual relations. A prescription
product, PREVEN/TM/ has been developed to prevent a pregnancy from starting and
it will not effect an existing pregnancy. The product is not an abortion pill.
PREVEN/TM/ was approved for U.S. marketing in late 1998 as the first
emergency contraceptive kit and recently approved by the Canadian regulatory
authorities.
The Company stated that PREVEN/TM/ represents a strategic fit with the
strong women's healthcare franchise established by Roberts Pharmaceutical
Canada Inc.
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: May 12, 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.
