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ROBERTS PHARMACEUTICAL CORPORATION ANNOUNCES RECORD SALES AND PROFITS

 EATONTOWN, N.J., Nov. 9 /PRNewswire/ -- Roberts Pharmaceutical Corporation (NASDAQ: RPCX) today reported a net profit for the third consecutive quarter. Profit for the quarter amounted to a record high of $1.2 million on record revenue of $23.5 million. This compares with a net loss for the third quarter of 1992 of $2.9 million on revenue of $8.5 million, a profit improvement of $4.1 million. Earnings for the third quarter amounted to $.08 per share compared to a net loss of $.20 per share for the comparable quarter in 1992, an improvement of $.28 per share.
 Roberts reported total revenues of $23.5 million for the quarter ended September 30, 1993, an increase of $15 million or 176 percent over total revenues of $8.5 million for the same quarter of the prior year. Product sales accounted for $16.5 million compared to $7.5 million for the same period in 1992. For the nine month period ended Sept. 30, 1993, revenues totalled $61.0 million representing an increase of $40.4 million or 196 percent over the prior year period revenues of $20.6 million. Product sales for the nine month periods Sept. 30, 1993 and 1992 totalled $40.8 million and $17.8 million, respectively. Sales of prescription products amounted to $36.5 million or 89 percent of total product sales, an increase of $23.7 million over the same nine month period of the prior year.
 Roberts reported a net profit for the nine months ended Sept. 30, 1993 of $2.8 million or $.19 per share compared to a net loss of $7.6 million or $.57 per share for the comparable period; a profit improvement of $10.4 million or $.76 per share. Net income as a percentage of year to date revenue amounted to 4.5 percent, a significant improvement compared to the loss of 37 percent of revenue for the comparable 1992 period.
 The Company's total operating expenses of $21.4 million for the quarter ended Sept. 30, 1993 were $9.2 million above the $12.2 million incurred during the comparable 1992 period. However, total expenses amounted to 91 percent of revenue; a substantial decrease compared with the 143 percent of revenue reported in the third quarter of 1992. Non- cash charges related to the amortization of intangible assets from recent acquisitions amounted to approximately $1 million.
 In reviewing the overall financial results of the third quarter, Dr. Robert A. Vukovich, Chairman and CEO, stated, "The results of the third quarter represent Roberts commitment to continued profitability and increased sales levels, as the current quarter is the third consecutive quarter in which an increase in net profit was reported and the sixth consecutive quarterly sales increase." He continued, "The proceeds of the Company's recent successful equity offering places Roberts in an excellent position for both short and long term growth."
 A review of the Company's financial results was summarized as follows:
 1. Third quarter revenue of $23.5 million was the highest quarterly revenue in the Company's history. Revenue for the third quarter was $2.8 million or 13.7 percent greater than the second quarter of 1993.
 2. Net profit and earnings per share have increased each quarter of 1993 as follows:
 Net Profit Earnings/Share
 First quarter $ 721 $ .05
 Second quarter 880 .06
 Third quarter 1,151 .08
 Total $2,751 $ .19
 3. On a pro forma basis, reflecting the results of the Company's


recent equity offering, total assets amounted to $365 million with $125.5 million in cash and marketable securities.
 Roberts Pharmaceutical Corporation is an international pharmaceutical company focusing on the acquisition and development of late-stage development products and the acquisition of currently marketed prescription and nonprescription products. Roberts currently markets its products in seven countries and has operating subsidiaries in the United States, Canada and the United Kingdom. Roberts has six prescription pharmaceutical products in late-stage clinical development and currently markets products primarily in six major therapeutic areas: Cardiovascular, Respiratory, Gynecology/Endocrinology, Urology, Oncology and Gastroenterology.
 ROBERTS PHARMACEUTICAL CORPORATION
 SUMMARY CONSOLIDATED FINANCIAL INFORMATION
 FOR THE THIRD QUARTER ENDED SEPT. 30, 1993
 (All amounts in thousands except per share data)
 (Unaudited)
 OPERATING STATEMENT DATA
 For the three months For the nine months
 ended Sept. 30, ended Sept. 30,
 1993 1992 1993 1992
 Revenues $23,483 $ 8,549 $61,048 $20,579
 Operating expenses
 Cost of sales 4,978 2,462 12,724 6,493
 Clinical studies 5,126 248 14,137 4,233
 Research and
 development 2,086 1,711 6,022 4,946
 Marketing and
 administration 9,250 7,786 23,590 13,759
 Total 21,440 12,207 56,473 29,431
 Net income (loss) $ 1,151 $(2,926) $ 2,751 $(7,616)
 Income (loss) per common
 share $ .08 $ (.20) $ .19 $ (.57)
 Weighted average common shares
 outstanding 14,705 14,649 14,705 13,461
 BALANCE SHEET DATA
 Pro forma
 Sept. 30, Sept. 30, Dec. 31,
 1993(a) 1993 1992
 Assets
 Cash and marketable
 securities $125,536 $ 15,292 $ 43,901
 Other current assets 32,180 32,180 14,439
 Other assets 207,390 207,390 127,083
 Total assets $365,106 $254,860 $185,423
 Liabilities & shareholders'
 equity
 Current liabilities $ 69,298 $ 69,298 $ 33,980
 Long-term debt 61,310 61,310 29,850
 Shareholders' equity 234,498 124,254 21,593
 Total liabilities &
 shareholders' equity $365,106 $254,862 $185,423
 (a) Reflects the effects of a 3.675 million share equity offering completed on Oct. 4, 1993.
 -0- 11/9/93
 /CONTACT: Anthony P. Maris of Roberts Pharmaceutical, 908-389-1182/
 (RPCX)


CO: Roberts Pharmaceutical Corporation ST: New Jersey IN: MTC SU: ERN

LG -- NY046 -- 2190 11/09/93 10:40 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
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Date:Nov 9, 1993
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