ROBERTS PHARMACEUTICAL CORPORATION COMPLETES PRODUCT ACQUISITION FROM GLAXO CANADA INC.
EATONTOWN, N.J., Sept. 22 /PRNewswire/ -- Roberts Pharmaceutical Corporation (NASDAQ-NMS: RPCX) today announced the closing of a second product acquisition agreement with Glaxo Canada Inc. It was previously announced on May 6, 1993, that under certain specified conditions, Roberts had the option to acquire a line of pharmaceutical products from Glaxo Canada. These conditions having been met, Roberts has exercised its option. This second agreement provides Roberts with exclusive Canadian rights to an additional 16 prescription and non-prescription products including TRANDATE(R), an anti- hypertensive agent, BETNOVATE(R), PROPADERM(R) AND BARRIERE-H.C.(R) dermatological product lines, and DEQUADIN(R) sore throat lozenges, bringing the total products acquired through both agreements to 21 prescription and OTC brands. Glaxo Canada has agreed to manufacture the products for Roberts for a specified period of time. Additional terms of the agreement were not disclosed; however, the transaction is to be completed on a cash basis. 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 non-prescription 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. -0- 9/22/93 /CONTACT: Anthony P. Maris of Roberts Pharmaceutical, 908-389-1182, or Barbara Dawson of Glaxo Canada, 416-819-3020/ (RPCX)
CO: Roberts Pharmaceutical Corporation; Glaxo Canada Inc. ST: New Jersey IN: MTC SU:
SH-PS -- NY018 -- 4567 09/22/93 09:56 EDT
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|Date:||Sep 22, 1993|
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