Javelin Receives Notice from Hospira of Funding of Loan
07 June 2010 - 10:30PM
Business Wire
Javelin Pharmaceuticals, Inc. (NYSE -- Amex: JAV) ("Javelin")
today announced that on June 4, 2010, Javelin received notice from
Hospira, Inc. ("Hospira") that Hospira will fund a $2 million loan
to Javelin on June 10, 2010 under the existing loan agreement
between Javelin and Hospira.
Javelin was also informed on June 4, 2010 that the Delaware
Court of Chancery has granted Javelin's motion to expedite
proceedings, and a trial date of July 26, 2010 has been set for the
lawsuit filed by Javelin against Hospira and its wholly owned
subsidiary, Discus Acquisition Corporation ("Discus"), seeking to
compel Hospira and Discus to complete the agreed-upon merger
pursuant to the definitive merger agreement among Javelin, Hospira
and Discus dated April 17, 2010.
JAV-G
About Javelin Pharmaceuticals
With corporate headquarters in Cambridge, MA, Javelin applies
innovative proprietary technologies to develop new drugs and
improved formulations of existing drugs to target unmet and
underserved medical needs in the pain management market. For
additional information about Javelin, please visit the company’s
Web site at http://www.javelinpharmaceuticals.com.
Important Additional Information Filed with the U.S.
Securities and Exchange Commission
Discus has commenced a tender offer for all of Javelin’s
outstanding shares of common stock. 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 with the Securities and Exchange Commission (the
“SEC”) a Tender Offer Statement on Schedule TO containing an
offer to purchase, form of letter of transmittal and other
documents relating to the tender offer on April 21, 2010, and
Javelin filed with the SEC a Solicitation/Recommendation Statement
on Schedule 14D-9 with respect to the tender offer on
April 22, 2010. Hospira and Javelin have mailed these
documents to Javelin’s stockholders. Javelin stockholders can
obtain a free copy of these documents and other documents filed by
Hospira and Javelin with the SEC, including amendments to the
Schedule TO and Schedule 14D-9, at the Web site maintained by the
SEC at www.sec.gov. In
addition, Javelin stockholders can 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.
Forward-Looking Statements
This press release contains “forward-looking statements”,
including statements relating to the expected timing of results and
development of Javelin’s drug candidates and any potential
transaction between Javelin Pharmaceuticals, Inc. and Hospira, Inc.
These “forward-looking statements” are based on management’s
current expectations of future events and are subject to a number
of risks and uncertainties that could cause actual results to
differ materially and adversely from those set forth in or implied
by forward-looking statements. These risks and uncertainties are
described under the heading “Risk Factors” contained in Javelin’s
Form 10-K, for the year ended Dec. 31, 2009, which was filed with
the SEC, as well as any updates to those risk factors filed from
time to time in Javelin’s Quarterly Reports on Form 10-Q or Current
Reports on Form 8-K. All information in this press release is as of
the date of the release, and Javelin Pharmaceuticals undertakes no
duty to update this information unless required by law.
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