EATONTOWN, N.J., June 26 /PRNewswire/ -- Roberts Pharmaceutical
Corporation today announced that it has completed a $125 million financing
agreement with a syndicate of institutional investors and banks. The proceeds
of this financing will be used to defray the costs of the acquisition of
Pentasa(R), a gastrointestinal product the company acquired from Hoechst
Marion Roussel in April 1998.
As previously announced by the Company, the financing was arranged by DLJ
Capital Corporation, a subsidiary of Donaldson, Lufkin & Jenrette. The
financing consists of a five year term loan secured by the assets of the
company. No further terms were disclosed.
Roberts Pharmaceutical Corporation, with operating subsidiaries in the
United States, Canada and the United Kingdom, is a fully integrated
pharmaceutical company with a focus on licensing, acquiring, developing and
commercializing innovative and value-added pharmaceuticals for both niche and
large therapeutic markets.
This and past press releases of Roberts Pharmaceutical Corporation are
available through PR Newswire's Company News On-Call fax service at
1-800-758-5804, extension 760975 and on the internet at
http://www.prnewswire.com and http://www.robertspharm.com.
This release may contain forward-looking statements which reflect
management's current views of future events and operations. These
forward-looking statements are based on assumptions and external factors,
including assumptions relating to regulatory action, product pricing,
competitive market conditions, financial data, 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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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 760975
Related links:
http://www.robertspharm.com
CONTACT:
Janet Browning of Roberts Pharmaceutical,
732-389-1182, ext. 3077
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