SOURCE: Spencer Pharmaceutical, Inc.

November 10, 2010 16:00 ET

Spencer Pharmaceutical to Provide Material Information on the Unsolicited All-Cash Buyout Offer

BOSTON, MA--(Marketwire - November 10, 2010) - 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.

Important Information About Forward-Looking Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release.

Contact Information

  • Contact:
    Dr. Max Arella
    President
    Spencer Pharmaceutical Inc.
    Tel. 1+(617) 973-5017