TETERBORO, N.J., Jan. 25 /PRNewswire/ -- Quest Diagnostics Incorporated
(NYSE: DGX), the nation's leading provider of diagnostic testing, information
and services, announced that it has filed a universal shelf registration
statement with the Securities and Exchange Commission allowing for the
issuance of various types of securities including debt, preferred stock and
common stock. Included under the $750 million registration are 1.5 million of
the 12.6 million shares held by GlaxoSmithKline plc (NYSE: GSK).
"Like many public companies, we are utilizing a universal shelf
registration because it is a practical and efficient way to access the public
markets," said Robert A. Hagemann, Chief Financial Officer of Quest
Diagnostics. "While we currently have no specific plans to issue securities,
the shelf registration positions us to act quickly to take advantage of growth
opportunities and favorable market conditions."
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. This announcement
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any State in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such State.
Quest Diagnostics is the nation's leading provider of diagnostic testing,
information and services with annualized revenues of more than $3 billion.
The testing performed on human specimens helps doctors diagnose, treat and
monitor disease; enables employers to detect workplace drug abuse; and
supports pharmaceutical and biotechnology companies in clinical trials of new
therapeutics worldwide. Quest Informatics analyzes laboratory and other
medical data to help health care providers improve the care of patients.
Additional company information can be found on the Internet at:
http://www.questdiagnostics.com.
The statements in this press release which are not historical facts or
information may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the outcome to be
materially different. Certain of these risks and uncertainties are listed in
the Quest Diagnostics Incorporated 1999 Form 10-K and subsequent filings.
SOURCE Quest Diagnostics
CONTACT: Investors - Cathy Doherty 201-393-5030, or Media - Gary
Samuels, 201-393-5700/