LAKE FOREST, Ill., May 19 /PRNewswire-FirstCall/ -- Hospira, Inc.
(NYSE: HSP), a global specialty pharmaceutical and medication
delivery company, today announced the extension of the tender offer
by Discus Acquisition Corporation, a wholly owned Hospira
subsidiary, to purchase all outstanding shares of the common stock
of Javelin Pharmaceuticals, Inc. (NYSE - Amex: JAV). In accordance
with the merger agreement between the parties, Hospira has
delivered notice of the extension of the tender offer to Javelin
based on its determination that all of the conditions to the offer
had not been satisfied as of the initial expiration date of the
offer. Hospira intends to continue to work with Javelin to confirm
the satisfaction of the conditions to the offer as promptly as
practicable.
The offer, which was scheduled to expire at 12:00 midnight,
New York City time, on
May 18, 2010 (the end of the day on
May 18, 2010) has been extended until
12:00 midnight, New York City
time, on June 2, 2010 (the end of the
day on June 2, 2010), unless extended
for a further period. All other terms and conditions of the tender
offer remain unchanged, including procedures for tendering and
withdrawing shares during the extension of the original offer
period. As of the expiration of the original offer period, a total
of 51,062,801 Javelin shares (including 1,037,092 shares tendered
pursuant to guaranteed delivery procedures), representing
approximately 78.82 percent of the outstanding shares of Javelin
common stock, had been validly tendered and not withdrawn.
After expiration of the offer, if all conditions of the tender
offer have been met, Hospira intends to acquire all of the
remaining outstanding shares of Javelin common stock by means of a
merger under Delaware law. As a
result, Javelin would be a wholly owned subsidiary of Hospira,
Javelin's shares would cease to be traded on the NYSE Amex, and
Javelin would no longer be required to file certain information and
periodic reports with the U.S. Securities and Exchange
Commission.
Additional Information
This press release is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
shares of Javelin common stock. Hospira has filed a tender offer
statement on Schedule TO, as amended, with the Securities and
Exchange Commission (the "SEC") containing an offer to purchase,
form of letter of transmittal and other documents relating to the
tender offer and Javelin has filed with the SEC a
Solicitation/Recommendation Statement on Schedule 14D-9, as
amended, with respect to the tender offer. Hospira and Javelin have
mailed these documents to Javelin's stockholders. Javelin
stockholders may obtain a free copy of these documents and other
documents filed by Hospira and Javelin with the SEC at the Web site
maintained by the SEC at www.sec.gov. In addition, Javelin
stockholders may obtain a free copy of these documents by directing
a request to Javelin Pharmaceuticals, Inc., 125 CambridgePark
Drive, Cambridge, MA 02140,
Attention: Investor Relations. INVESTORS AND JAVELIN SECURITY
HOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY IN THEIR
ENTIRETY BEFORE MAKING ANY DECISION WITH RESPECT TO THE TENDER
OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION.
None of the information included on any Internet Web site
maintained by Hospira, Javelin or any of their affiliates, or any
other Internet Web site linked to any such Web site, is
incorporated by reference in or otherwise made a part of this press
release.
About Hospira
Hospira, Inc. is a global specialty pharmaceutical and
medication delivery company dedicated to Advancing Wellness™. As
the world leader in specialty generic injectable pharmaceuticals,
Hospira offers one of the broadest portfolios of generic acute-care
and oncology injectables, as well as integrated infusion therapy
and medication management solutions. Through its products, Hospira
helps improve the safety, cost and productivity of patient care.
The company is headquartered in Lake
Forest, Ill., and has approximately 13,500 employees. Learn
more at www.hospira.com.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements regarding Hospira's proposed acquisition of
Javelin. Hospira cautions that these forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from those indicated in the forward-looking
statements. No assurance can be given that the acquisition
transaction described in this press release will be completed, that
completion of the transaction will not be delayed or that Hospira
will realize the anticipated benefits of the transaction. Economic,
competitive, governmental, legal, technological and other factors
that may affect Hospira's operations and may cause actual results
to be materially different from expectations include the risks,
uncertainties and factors discussed under the headings "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in Hospira's Annual Report on
Form 10-K for the year ended Dec. 31,
2009 and any subsequent Quarterly Reports on Form 10-Q or
Current Reports on Form 8-K, which are incorporated by reference.
Hospira undertakes no obligation to release publicly any revisions
to forward-looking statements as the result of subsequent events or
developments.
SOURCE Hospira, Inc.