Company Expects to Eliminate Debt in January 2006
FORT LEE, N.J., Dec. 26 /PRNewswire-FirstCall/ -- Alpharma Inc. today announced that it had notified the trustees of its 8.625% Senior Notes due 2011, and its 3% Convertible Subordinated Notes due June 2006 that it has elected to redeem these notes in accordance with the note indentures. On September 30, 2005, the balances of the Senior Notes and the Convertible Subordinated Notes were $220 million and $159 million, respectively. Payments to the trustee, including call premiums and accrued interest, of approximately $243 million regarding the Senior Notes and $162 million regarding the Convertible Subordinated Notes, will be made in January 2006. Following the repayment of this debt, the company expects to be debt-free.
Alpharma Inc. is a global specialty pharmaceutical company with leadership positions in products for humans and animals. Alpharma is presently active in more than 60 countries. Alpharma has a growing branded franchise in the chronic pain market with its morphine- based extended release KADIAN(R) product. In addition, Alpharma is among the world's leading producers of several specialty pharmaceutical-grade bulk antibiotics and is internationally recognized as a leading provider of pharmaceutical products for poultry and livestock
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CONTACT: Kathleen Makrakis, VP, Investor Relations of Alpharma Inc., +1-201-228-5085, firstname.lastname@example.org
Web site: http://www.alpharma.com/
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