EATONTOWN, N.J., Dec. 17 /PRNewswire/ -- Roberts Pharmaceutical
Corporation (Amex: RPC) announced today a product transaction agreement
whereby Roberts will receive exclusive North American distribution rights with
a future right to purchase Slow-Mag(R), a comparatively high-margin product
which Roberts considers to be a strong fit with its interests in the
cardiovascular market.  In exchange, Searle will receive a combination of cash
installment payments, totaling about $15 million over more than two years, and
rights to the oral contraceptive Norethin(TM), a product outside of Roberts
principal area of therapeutic focus.
    "In the coming year, we expect this product transaction to have a net
positive impact on Roberts gross margin and overall profitability with a
modest contribution anticipated with regard to corporate revenues", said John
T. Spitznagel, Roberts President and CEO.  "Moreover, factors contributing to
the favorable returns we expect for Slow-Mag include an important new
opportunity for incremental sales growth, plus the potential for significant
synergistic benefits."
    Slow-Mag has been uniquely formulated to provide the slow-release of a
highly soluble and readily absorbed form of magnesium which is essential in
maintaining the heart, kidneys, muscles and bones.  The body's level of
magnesium can be affected by several factors including the use of certain
medications such as diuretics.  Magnesium deficiency can be associated with
cardiac arrhythmia and congestive heart failure.  A deficiency in magnesium
can also intensify digitalis toxicity and in the case of myocardial infarction
can increase the risk of sudden cardiac death.  Slow-Mag is an ethical, over-
the-counter (OTC) product that is generally marketed directly to physicians
for use in those patients requiring magnesium supplementation.
    "Roberts is actively engaged in the development and marketing of
cardiovascular agents", said Mr. Spitznagel.  "Our portfolio of marketed
products includes ProAmatine(R), the only FDA cleared drug for orthostatic
hypotension, Eminase(R), a life saving thrombolytic therapy, and Ethmozine(R)
for the treatment of symptomatic ventricular arrhythmias.  Slow-Mag broadens
and strongly complements our presence in this important therapeutic category.
Furthermore, as an ethical OTC, Slow-Mag fits well with our line of
nonprescription pharmaceuticals and, in turn, we expect to strategically
position the product to take advantage of our OTC distribution network."  He
concluded by noting, "In addition to marketing synergies, opportunities for
incremental growth, and the generally favorable margins represented by Slow-
Mag, this product will be packaged in our Oakville facility thus increasing
the overall potential benefits to Roberts."
    Roberts Pharmaceutical Corporation, with operating subsidiaries in the
United States, Canada and the United Kingdom, focuses on licensing, acquiring,
developing and commercializing innovative pharmaceuticals.  The Company's
first pipeline products, ProAmatine(R) and Agrylin(TM) were recently launched
in the US as the first FDA cleared drugs, respectively, to treat orthostatic
hypotension and essential thrombocythemia.  Agrylin has also been cleared for
marketing in Canada and the product is currently under review for approval in
the European Union.
    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 and competing products.
Any changes in such assumptions or external factors could produce
significantly different results.

Link to this page: