EATONTOWN, N.J., May 11 /PRNewswire/ -- Roberts Pharmaceutical Corporation
(Amex: RPC) today announced an agreement for a strategic alliance with
Gynetics Inc. (Belle Mead, NJ) whereby Roberts received exclusive Canadian
marketing rights to PREVEN(TM), the new Emergency Contraceptive Kit developed
by Gynetics.
Under the terms of the six-year agreement, Roberts and Gynetics will enter
into a 50/50 profit sharing arrangement for PREVEN in Canada. Roberts said
that it expects to introduce PREVEN into the Canadian market in the near term.
Consistent with Roberts' growth strategies, the Company noted that it
expects this transaction to be additive to earnings with some modest benefit
possible in the current year. Going forward, Roberts anticipates increasing
contributions to profitability as Canadian sales of PREVEN ramp up.
The pills in the PREVEN kit contain special doses of the hormones
progestin (0.25mg levonorgestrel) and estrogen (0.05mg ethinyl estradiol) that
prevent pregnancy when taken as soon as possible within 72 hours after known
or suspected contraceptive failure or unprotected sexual relations.
A prescription product, PREVEN has been developed to prevent a pregnancy
from starting and it will not effect an existing pregnancy. The product is
not and should not be confused with the so-called European abortion pill,
RU-486. In contrast, it has been estimated that 800,000 abortions and 50% of
unintended pregnancies could be avoided by providing women with access to
emergency contraception.
PREVEN was approved for U.S. marketing in late 1998 as the first emergency
contraceptive kit and recently approved by the Canadian regulatory
authorities.
Roberts said that PREVEN represents both a new product opportunity and a
strategic fit with the strong women's healthcare franchise established by
Roberts Pharmaceutical Canada Inc. The Company further noted that it plans to
package the PREVEN kit in its own manufacturing facility. Additionally, as
part of today's announced agreement, Roberts received rights to a
second-generation emergency contraceptive levonorgestrel only product
currently in Phase III studies in Canada and the U.S.
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 . Additional product and U.S. prescribing
information for PREVEN are available at http://www.PREVEN.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
http://www.PREVEN.com
CONTACT:
Stuart Z. Levine, Ph.D., V.P. Corporate
Communications of Roberts Pharmaceutical Corporation,
732-676-1200, ext. 3064
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