LAKE FOREST, Ill., June 28 /PRNewswire-FirstCall/ --
Hospira, Inc. (NYSE: HSP), a global specialty pharmaceutical
and medication delivery company, today announced its intention to
complete the tender offer by Discus Acquisition Corporation, a
wholly owned Hospira subsidiary, for all outstanding shares of the
common stock of Javelin Pharmaceuticals, Inc. (NYSE - Amex:
JAV), upon its currently scheduled expiration at 12:00 midnight,
New York City time, on
June 30, 2010 (the end of the day on
June 30, 2010).
Javelin has notified Hospira that it is prepared to deliver a
closing certificate in accordance with the merger agreement among
the parties confirming the accuracy of its representations and
warranties and its performance of all of its obligations under the
merger agreement as of the end of the current offer period. Based
on Javelin's notification, Hospira expects that all of the
conditions to the tender offer will be satisfied upon its currently
scheduled expiration, and intends to accept for payment, purchase
and promptly pay for all shares of Javelin common stock validly
tendered and not withdrawn prior to the expiration of the
offer.
Following the consummation of the tender offer, Hospira intends
to acquire any remaining outstanding shares of Javelin common stock
not tendered into the offer by means of a merger under Delaware law. Upon completion of the merger,
Javelin will become a wholly owned subsidiary of Hospira, its
shares will cease to be traded on the NYSE Amex, and Javelin will
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.