CHESTER, N.J., Aug. 3 /PRNewswire-FirstCall/ -- Adams Respiratory Therapeutics, Inc. today announced that it has completed its previously announced repurchase of the manufacturing assets and operations in Fort Worth, Texas, from Cardinal Health.
As disclosed in an SEC filing on Aug. 2, Adams consummated the acquisition from Cardinal Health on July 31, 2006. Under the terms of the Asset Purchase Agreement, the Company paid Cardinal $24 million upfront, as part of the $28 million in total cash payments, as previously disclosed. The remaining $4 million will be paid on a quarterly basis during fiscal year 2007.
Investor Conference Call and Webcast
Adams management will conduct an investor conference call and webcast on Tuesday, Aug. 8, 2006, at 8:30 a.m. (EDT), to review financial and other information related to the plant buyback. Michael J. Valentino, president and CEO, and David P. Becker, executive vice president, CFO and treasurer, will host the conference call. A slide presentation to accompany the audio webcast of the conference call will be available by going to the Investor Relations web site, http://investor.adamsrt.com.
To listen live to the call, dial 1-877-669-8882 or 1-706-758-9391. A replay of the call will be available starting at approximately 11:30 a.m. on Aug. 8 through 5 p.m. on Aug. 15. To listen to the replay, dial 1-800-642- 1687 or 1-706-645-9291 and enter the conference ID# 4040380.
A live audio webcast of the conference call also will be available by going to the Calendar of Events section of Adams' Investor Relations web site, http://investor.adamsrt.com. A replay of the webcast will be available starting at approximately 10:30 a.m. on Aug. 8 through 5 p.m. on Sept. 8.
About Adams Respiratory Therapeutics, Inc.
Adams is a specialty pharmaceutical company focused on the late-stage development, commercialization and marketing of over-the-counter and prescription pharmaceuticals for the treatment of respiratory disorders.
Forward-Looking Statements
This press release may contain certain "forward-looking" statements. Such forward-looking statements can be identified by the words "expect," "plan," "seeks," "believe," "intend," and similar expressions and are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include risk factors set forth under the headings "Cautionary Note Regarding Forward-Looking Statements", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Adams' Rule 424(b)(4) Prospectus filed with the SEC on December 9, 2005 and under Item 1A. Risk Factors in Adams' Quarterly Report on Form 10- Q for the period ended March 31, 2006. Except to the extent required by applicable securities laws, Adams is not under any obligation to (and expressly disclaims any such obligation to) update its forward-looking statements, whether as a result of new information, future events, or otherwise. All statements contained in this press release are made only as of the date of this presentation.
Adams Respiratory Therapeutics, Inc.