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ROBERTS PHARMACEUTICAL SHAREHOLDERS VOTE IN FAVOR OF YAMANOUCHI OFFER TO PURCHASE $95 MILLION EQUITY POSITION

 ROBERTS PHARMACEUTICAL SHAREHOLDERS VOTE IN FAVOR OF YAMANOUCHI OFFER
 TO PURCHASE $95 MILLION EQUITY POSITION
 EATONTOWN, N.J., March 13 /PRNewswire/ -- At a special meeting of shareholders held on Thursday, March 12, Roberts Pharmaceutical (NASDAQ: RPCX) shareholders voted to approve the previously announced equity investment agreement between Roberts and Yamanouchi Pharmaceutical Co., Ltd., of Tokyo. Of the total shareholder votes cast, 99.6 percent voted in favor of the Yamanouchi equity investment.
 The shareholder approved agreement provides for the purchase, by a U.S. subsidiary of Yamanouchi, of 4 million newly issued shares of Roberts common stock for an aggregate purchase price of $95.352 million. The per share purchase price of $23.84 represents the average of the closing sale prices of Roberts common stock for the 20 trading days ended Dec. 19, 1991, the day prior to signing of the previously announced letter of intent between the two companies.
 The stock purchase will increase the number of shares of Roberts common stock outstanding from approximately 9.8 million to 13.8 million shares and will result in Yamanouchi having an approximately 29 percent ownership interest in Roberts. The investment, which is scheduled to be closed on March 17, 1992, will provide Yamanouchi with up to two seats on Roberts' board of directors.
 The proceeds to Roberts of the investment, net of expenses, will be used by Roberts for the acceleration of new product development programs, possible future acquisitions and other corporate expansion purposes.
 Roberts Chairman and CEO, Robert A. Vukovich, stated, "This investment by Yamanouchi, one of the world's leading pharmaceutical research and development firms will be of great help for the growth of Roberts. We are very pleased and proud of this new and exciting collaboration which will lead to growth opportunities for both Roberts and Yamanouchi."
 Yamanouchi Pharmaceutical Co., Ltd., a leader in Japan's growing pharmaceutical industry, is engaged in the research, manufacture, and marketing of a broad range of ethical and over-the-counter drugs. Current worldwide annual sales approximate $3 billion. Yamanouchi has expanded its worldwide operations through licensing, research activities, manufacturing in Ireland and the acquisitions of Shaklee Corporation in the United States and Brocades Pharma BV in Europe. These activities represent important steps for Yamanouchi to build a global healthcare presence.
 Roberts Pharmaceutical Corporation is engaged in the business of acquiring, developing and marketing human pharmaceuticals in the United States and abroad. The company is developing late stage pharmaceuticals for the treatment of cancer, respiratory disease, endocrine disorders, pain management, cardiovascular and urologic conditions. Roberts currently markets a line of prescription and non-prescription pharmaceuticals in the United States and abroad.
 -0- 3/13/92
 /CONTACT: Anthony P. Maris of Roberts Pharmaceuticals, 908-389-1182/
 (RPCX) CO: Roberts Pharmaceuticals; Yamanouchi Pharmaceutical Co. ST: New Jersey IN: MTC SU: TNM


TS-OK -- NY013 -- 7698 03/13/92 09:43 EST
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Publication:PR Newswire
Date:Mar 13, 1992
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