EATONTOWN, N.J., Feb. 17 /PRNewswire/ -- Roberts Pharmaceutical
Corporation (Amex: RPC) today reported fourth quarter 1998 per share earnings
of $0.21, a 91% increase from $0.11 in the comparable period of 1997 and
surpassing the First Call(R) consensus estimate of $0.14.
    Correspondingly, the Company reported per share earnings for the year
ended December 31, 1998 at $0.53, an approximate nine-fold increase from the
$0.06 reported for 1997 and exceeding the First Call(R) consensus estimate of
$0.48.
    Roberts said that revenues for the fourth quarter of 1998 were at a record
level of  $55.5 million, a 49% increase from the $37.3 million reported for
the fourth quarter of 1997.
    The year-to-year improvement in quarterly revenues primarily reflects
strong contributions from Roberts' newer, high-margin, prescription drugs
Agrylin(R), ProAmatine(R) and Pentasa(R) plus solid double-digit growth rates
in sales of the Company's consumer brands Colace(R), PeriColace(R), and
Slow-Mag(R).
    Fourth quarter 1998 revenues were further bolstered by stronger than
expected sales of the prescription drug Noroxin(R).  Roberts said that fourth
quarter 1998 sales of Noroxin benefited from a strong buy-in as wholesalers
built inventories in advance of some pricing actions that the Company had
announced for the product.
    On a year-to-year basis, fourth quarter 1998 gross profits increased 33%
to $32.6 million from $24.5 million.  Roberts said that the improvement in
gross profits was largely supported by sales of its higher margin drugs with a
disproportionately smaller contribution from the strong fourth quarter sales
of Noroxin, a comparatively low margin product.
    In addition, selling, general, and administration expenses declined as a
percent of revenues to 32.4% in the final quarter of 1998 compared to 43.5% in
the comparable period of 1997.
    Net income in the last three months of 1998 doubled to $6.6 million from
$3.3 million in the same period of 1997 with a corresponding year-to-year
increase in quarterly per share earnings to $0.21 from $0.11.
    For the twelve months ended December 31, 1998, revenues were reported at a
record $175.5 million, representing a 43% increase from $122.5 million
reported for 1997.
    Sales of the Company's two pipeline drugs Agrylin and ProAmatine increased
by 85% and 140%, respectively, during 1998 and sales of Pentasa exceeded
$33 million for the nine months since the product was acquired in April 1998.
    Roberts said that Agrylin, ProAmatine, and Pentasa accounted for
approximately 42% of 1998 revenues and that sales of these higher margin
products contributed to an improvement in gross profit margins to 62.2% in
1998 from 58.1% in 1997.
    In addition, sales, general, and administration expenses declined to
39.4% of revenues in 1998 from 48.0% in 1997 with a corresponding increase in
operating income to $27.4 million from a loss of $0.8 million.
    For the full year 1998, net income increased to $16.8 million from
$2.5 million in 1997.  Per share earnings were reported at $0.53 for 1998
compared to $0.06 for 1997.
    The Company said that its position of cash, cash equivalents and
marketable securities amounted to over $75 million on December 31, 1998.
    "We are very pleased with the strong improvements in our 1998 revenues and
earnings," said John T. Spitznagel, Roberts' President and CEO.  "Roberts is
benefiting from increasing sales of its new high-margin pipeline and acquired
drugs, and we expect this favorable shift in product mix to drive our long-
term growth," said Mr. Spitznagel.
    Roberts Pharmaceutical Corporation, with operating subsidiaries in the
United States, Canada and the United Kingdom, focuses on value-added specialty
pharmaceuticals in the therapeutic categories of gastroenterology, urology,
oncology/hematology, and cardiology/neurology.   Roberts actively pursues its
strategy of Search & Develop to identify and acquire novel post-discovery drug
candidates to advance through late-stage clinical development while also
pursuing opportunities to acquire and enhance the potential of commercially
available specialty medicines.
    This and past press releases of Roberts Pharmaceutical Corporation are
available through the Internet at the Roberts' home page at
http://www.robertspharm.com.
    This release contains forward looking statements which are based on
assumptions and external factors, including assumptions relating to, but not
limited to regulatory action, product pricing, competitive market conditions,
unaudited financial data, new product development and other risks or
uncertainties detailed from time to time in Roberts filings with the
Securities and Exchange Commission.  These forward-looking statements
represent the Company's judgment as of the date of this release and any
changes in the assumptions or external factors could produce significantly
different results.

                      ROBERTS PHARMACEUTICAL CORPORATION
                      FINANCIAL HIGHLIGHTS OF OPERATIONS
                     (in millions, except per share data)

                           For the twelve months        For the three months
                                ended Dec 31,               ended Dec 31,
                                                            (unaudited)
                              1998          1997         1998          1997

    Total Revenues         $ 175.5       $ 122.5       $ 55.5        $ 37.3

    Gross profit             109.2          71.1         32.6          24.5

    Operating expenses        81.8          71.9         21.7          23.6

    Operating income (loss)   27.4         (0.8)         10.9           0.9
    Other income
     (expenses), net          (2.4)          2.2         (2.0)          1.2
    Income (loss) before taxes25.0           1.4          8.9           2.1

    Provision (benefit)
     for taxes                 8.2         (1.1)          2.4          (1.2)

    Net income (loss)         16.8         $ 2.5        $ 6.6         $ 3.3

    Net per share income (loss)
     after preferred dividends$ 0.53      $ 0.06       $ 0.21        $ 0.11

    Weighted average number of
     common shares and
     equivalents (000's)    31,460        29,497       32,105        29,447

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