EATONTOWN, N.J., July 22 /PRNewswire/ -- Roberts Pharmaceutical
Corporation (AMEX: RPC) notes that it is not aware of any specific reason to
account for the current decline in the price of the Company's common stock.
Roberts financial health is strong with over $90 million in cash.
Additionally, the Company recently reported first-half 1997 results reflecting
a significant strengthening in fundamentals. During the first-six months of
1997, Roberts revenues advanced 29% to $56.6 million from $44.0 million in the
comparable period a year earlier. Correspondingly, per share earnings in the
first-half 1997 were reported at $0.08 compared to a loss from continuing
operations of $(0.32) in the same period a year earlier.
The Company's first pipeline product, ProAmatine(R), was recently launched
in the U.S. as the first FDA cleared drug to treat orthostatic hypotension.
Agrylin(TM), Roberts second pipeline product, has since been launched in the
U.S. as the first drug cleared to treat essential thrombocythemia. Agrylin is
also currently under review in Canada and the European Union with the latter
representing a market potential possibly exceeding that of North America.
Several other compounds are in development, representing the potential for
future product introductions in support of long-term growth.
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.
SOURCE Roberts Pharmaceutical Corporation
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CONTACT: Stuart Z. Levine, Ph.D., Director of Investor Relations of Roberts Pharmaceutical, 908-389-1182, ext. 3064
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