EATONTOWN, N.J., May 5 /PRNewswire/ -- Roberts Pharmaceutical Corporation
(Amex: RPC) today announced that, effective immediately, Roberts
Pharmaceutical Canada will begin sales operations in Canada for Amatine(R), a
treatment for orthostatic hypotension, which Roberts markets in the U.S. under
the brand name ProAmatine(R).
Roberts said that Amatine was first approved in Canada in the early 1990s
with a then more limited indication. Also, at that time, the Company had not
yet established its own Canadian sales and marketing capabilities, thus
exclusive distribution rights to Amatine in Canada were granted to a third
party.
In late 1998, based on additional clinical data employed in gaining U.S.
marketing clearance for the product, Amatine's current, broader indication was
allowed by the Canadian regulatory authorities.
With today's announcement, Roberts said it has ended the above noted
third-party distribution agreement and that Amatine will now be detailed by
Roberts' sales people. This will allow the Company to recognize all of the
product's Canadian sales and related profits.
"Selling our own product with our own salesforce will provide a number of
benefits," said John T. Spitznagel, Roberts' President and CEO. "In addition
to realizing every dollar of Amatine sales, the product's gross margin will
improve for us in Canada. Moreover, we can now take advantage of the
product's newer, expanded indication and the synergies with our existing
marketing programs to build momentum behind Amatine's penetration of the
Canadian market."
Mr. Spitznagel further noted, "We began promoting this product here, in
the U.S., only two years ago and have been highly successful in building
domestic market share in that relatively short period of time. We now have an
opportunity to expand that success throughout the broader North American
market."
He concluded by saying, "In essence, taking control of Amatine's destiny
in Canada is very much like having an important new product launch in that
market."
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.
SOURCE Roberts Pharmaceutical Corporation
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Related links:
http://www.robertspharm.com
CONTACT:
Stuart Z. Levine, Ph.D., V.P. Corporate
Communications of Roberts Pharmaceutical Corporation,
732-676-1200, ext. 3064
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