EATONTOWN, N.J., Sept. 22 /PRNewswire/ -- Roberts Pharmaceutical
Corporation (Amex: RPC) announced today that its founder and Executive
Chairman, Dr. Robert A. Vukovich, has elected to retire from active employment
with the Company. He will continue to serve as Chairman of the Company's
Board of Directors and as a consultant for drug development and strategic
planning. John T. Spitznagel, who was appointed to succeed Dr. Vukovich in
September 1997, will continue to manage the Company as President and Chief
Executive Officer.
Dr. Vukovich said, "Having established the right management team to lead
the Company, now is the appropriate time for me to pursue other business and
personal interests. I have full confidence that John and his team will
continue to build upon the foundation that I established over 15 years ago."
Mr. Spitznagel said, "Dr. Vukovich's guidance and leadership have
positioned Roberts for the success it enjoys today as a fully integrated
pharmaceutical company. While he has decided to step down from his current
role, we are very pleased that he will remain available to provide us with his
counsel." With today's announcement, Roberts' Board of Directors will consist
of six non-employee members and three corporate officers.
Dr. Vukovich has almost thirty years of drug development experience in the
pharmaceutical industry. Before founding Roberts over 15 years ago,
Dr. Vukovich developed more than 40 new drug therapies for Warner Lambert,
Bristol Myers Squibb, and the Revlon Health Care Group. He is the author of
over 140 scientific publications and has received many awards and honors
during his career. These include: "Entrepreneur of the Year" for
biotechnology, "Man of the Year" awards from the Crohns and Colitis Foundation
and Cancer Care NJ, and the Mass Mutual Blue Chip Enterprise Award. In
addition, he serves on the Board of Trustees of Allegheny College and the
Entrepreneur of the Year Institute, among other Board positions.
Roberts Pharmaceutical Corporation, with operating subsidiaries in the
United States, Canada and the United Kingdom, focuses on innovative and
value-added therapeutics for gastroenterology, cardiology, neurology,
oncology/hematology, and urology. Roberts actively pursues its strategy of
"Search & Develop" to identify and acquire novel drug candidates to advance
through late-stage development into the market. The Company also acquires and
brings commercially available specialty pharmaceuticals to their full
potential.
This and past press releases of Roberts Pharmaceutical Corporation are
available through PR Newswire's Company News On Call fax service at
800-758-5804, extension 760975 and through the Internet at
http://www.prnewswire.com as well as the Company's home page at
http://www.robertspharm.com.
This release may contain 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,
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 that the date of this release and any changes in the assumptions or
external factors could produce significantly different results.
SOURCE Roberts Pharmaceutical Corporation
 back to top
Related links:
http://www.robertspharm.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 760975
CONTACT:
Stuart Z. Levine, Ph.D., Director of Investor
Relations of Roberts Pharmaceutical Corporation, 732-676-1200,
ext. 3064
|
