Healthcare Industry News: metabolic disease
News Release - November 10, 2010
Spencer Pharmaceutical to Provide Material Information on the Unsolicited All-Cash Buyout OfferBOSTON, MA--(Healthcare Sales & Marketing Network) - Spencer Pharmaceutical Inc. (Pinksheets:SPPH ) announced today that it will release material information regarding the unsolicited all-cash offer it received on November 4, 2010.
According to the company, certain information on the all-cash buyout offer will be shared with shareholders on November 11, 2010 at 9am, prior to the opening of the market. However, much of the details of the transaction will remain confidential until such time as information can be verified and confirmed.
"We want to provide information to our shareholders at every step of the way so no one can get a competitive advantage," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "We also want to assure our shareholders that if there is a transaction, we will do everything in our power to fulfill the requirements to a successful transaction but also that this offer does not deter us from our business," further added Dr. Arella.
About Spencer Pharmaceutical Inc.
Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.
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Source: Spencer Pharmaceutical
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