FHRX First Horizon Pharmaceutical (MM)

First Horizon Pharmaceutical Corporation (Nasdaq:FHRX), a specialty pharmaceutical company, today announced that it has filed a registration statement on Form S-4 relating to the offer to exchange its New 1.75% Contingent Convertible Senior Subordinated Notes due 2024 for any and all of its outstanding 1.75% Contingent Convertible Senior Subordinated Notes due 2024. The exchange offer will not commence until the registration statement filed by First Horizon has been declared effective by the Securities and Exchange Commission. The purpose of the exchange offer will be to issue the new notes that will contain certain terms that are different from the existing notes, including a net share settlement feature, which will allow First Horizon to calculate earnings per share in a method which is expected to be less dilutive compared to the calculation method applicable to the existing notes. Additional terms of the exchange offer will be announced upon commencement. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Once available, a written prospectus for the offering may be obtained from the information agent for the exchange offer, Morrow & Co., Inc., 470 West Avenue, Stamford, CT 06902, (203) 658-9400, banks and brokerage firms: (800) 662-5200, noteholders: (800) 607-0088, fhrx.info@morrowco.com. The materials related to the exchange offer contain important information that should be read carefully when they are distributed before any decision is made with respect to the exchange offer. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities to be issued in the proposed exchange offer in any state for any such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. First Horizon Pharmaceutical Corporation is a specialty pharmaceutical company that markets, develops and sells brand name prescription products for the primary service of cardiology and women's health. First Horizon has a portfolio that includes 15 branded products, of which eight are actively promoted to high prescribing physicians through its recently expanded nationwide sales force in approximately 525 territories. First Horizon's website address is www.fhrx.com, but information contained therein is not part of this press release.