Enterprising Investor
9 years ago
POZEN And Tribute Combine To Create Aralez Pharmaceuticals Inc. (2/05/16)
-Transformative Transaction Creates Premier Specialty Pharma Company with a Broad Product Portfolio-
-Canadian Domicile Provides Compelling Platform for Growth with Competitive Structure-
-US$350 Million Capital Commitment from Deerfield-Led Syndicate-
MILTON, Ontario, Feb. 5, 2016 /PRNewswire/ -- Aralez Pharmaceuticals Inc. ("Aralez") today announced the completion of the business combination of POZEN Inc. ("POZEN") and Tribute Pharmaceuticals Canada Inc. ("Tribute") following approval of the transaction by stockholders of POZEN and shareholders of Tribute. The combined company will operate under Aralez Pharmaceuticals Inc. ("Aralez"), a global specialty pharmaceutical company with operations in Canada, Ireland and the United States. Under the terms of the Agreement and Plan of Merger and Arrangement, each share of POZEN common stock has been converted into the right to receive one Aralez common share and each common share of Tribute (other than dissenting shares) has been exchanged for 0.1455 Aralez common shares.
As of closing, Aralez has approximately 75 million outstanding shares on a fully diluted basis. Commencing on or about February 8, 2016, Aralez will trade on NASDAQ under the ticker symbol "ARLZ", and on or about February 10, 2016 will begin trading on the Toronto Stock Exchange ("TSX") under the ticker symbol "ARZ".
"As Aralez, we have established an efficient platform that offers competitive advantages with committed capital to enable us to aggressively build out our portfolio through strategic business development and M&A, from which we plan to drive long-term value creation for shareholders," said Adrian Adams, Chief Executive Officer of Aralez. "We have a lean, nimble and performance-oriented operating business model that will allow us to build value organically and through accretive transactions and as such we believe that Aralez is well positioned for further transformational growth."
About Aralez Pharmaceuticals Inc.
Aralez Pharmaceuticals Inc. (NASDAQ: ARLZ and TSX: ARZ) is a global specialty pharmaceutical company focused on delivering meaningful products to improve patients' lives while focusing on creating shareholder value by acquiring, developing and commercializing products primarily in cardiovascular, pain and other specialty areas. Aralez's Global Headquarters is in Ontario, Canada, the US Headquarters is planned to be in Princeton, NJ and the Irish Headquarters is in Dublin, Ireland. More information about Aralez can be found at www.aralez.com.
http://www.prnewswire.com/news-releases/pozen-and-tribute-combine-to-create-aralez-pharmaceuticals-inc-300216066.html
Enterprising Investor
9 years ago
POZEN Inc. Announces Stockholder Approval of its Transaction with Tribute Pharmaceuticals Canada Inc. (2/02/16)
-Transaction Expected to Close on or About February 5, 2016-
CHAPEL HILL, N.C., Feb. 2, 2016 /PRNewswire/ -- POZEN Inc. ("POZEN") (NASDAQ: POZN), a specialty pharmaceutical company, today announced that its stockholders approved the Agreement and Plan of Merger and Arrangement (the "Merger Agreement") with Tribute Pharmaceuticals Canada Inc. ("Tribute") and the carrying out of the transactions contained therein. Upon closing of the transaction, the POZEN and Tribute businesses will operate as subsidiaries of Aralez Pharmaceuticals Inc. ("Aralez"), a company domiciled in Canada.
The Merger Agreement was also adopted by the Tribute shareholders on February 1, 2016. The proposed transaction remains subject to certain conditions and approvals, including approval of the Ontario Superior Court of Justice, listing of Aralez shares and customary closing conditions, and is expected to occur promptly following satisfaction of all conditions. Aralez will be listed on the NASDAQ stock exchange under the ticker symbol "ARLZ" and is expected to begin trading on or about February 8, 2016, and will be listed on the Toronto Stock Exchange ("TSX") under the ticker symbol "ARZ" and is expected to begin trading on on or about February 10, 2016, assuming closing on February 5, 2016.
About POZEN
POZEN is a specialty pharmaceutical company that has historically focused on developing novel therapeutics for unmet medical needs and licensing those products to other pharmaceutical companies for commercialization. By utilizing this business model, POZEN has successfully developed and obtained FDA approval of two self-invented products. Funded by these milestones/royalty streams, POZEN has created a portfolio of cost-effective, evidence-based integrated aspirin therapies designed to enable the full power of aspirin to be realized by reducing its GI damage.
On June 2, 2015, POZEN announced the formation of Aralez Pharmaceuticals Trading DAC (formerly Pozen Limited), a wholly-owned Irish subsidiary, to expand its geographic footprint and increase its global presence, including potential international sales, manufacturing and product development.
POZEN's common stock is traded under the symbol "POZN" on The NASDAQ Global Market. For more detailed company information, including copies of this and other press releases, please visit www.pozen.com.
About Tribute
Tribute is a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada and the U.S. markets.
Tribute markets Cambia® (diclofenac potassium for oral solution), Bezalip® SR (bezafibrate), Soriatane® (acitretin), NeoVisc® (1.0% sodium hyaluronate solution) Uracyst® (sodium chondroitin sulfate solution 2%), Fiorinal®, Fiorinal® C, Visken®, Viskazide®, Collatamp® G, Durela®, Proferrin®, Iberogast®, MoviPrep®, Normacol®, Resultz®, Pegalax®, Balanse®, Balanse® Kids, Diaflor™, Mutaflor®, and Purfem® in the Canadian market. Additionally, NeoVisc® and Uracyst® are commercially available and are sold globally through various international partnerships. Tribute also has the U.S. rights to Fibricor® and its related authorized generic. In addition, it has the exclusive U.S. rights to develop and commercialize Bezalip® SR in the U.S. and has the exclusive right to sell bilastine, a product licensed from Faes Farma for the treatment of allergic rhinitis and chronic idiopathic urticaria (hives), in Canada. The exclusive license is inclusive of prescription and non-prescription rights for bilastine, as well as adult and pediatric presentations in Canada. This product is subject to receiving Canadian regulatory approval.
Tribute's common shares are traded on the TSX Venture Exchange under the symbol "TRX" and on the OTCQX International under the symbol "TBUFF". For more detailed company information, including copies of this and other press releases, please visit www.tributepharma.com.
http://www.prnewswire.com/news-releases/pozen-inc-announces-stockholder-approval-of-its-transaction-with-tribute-pharmaceuticals-canada-inc-300213628.html
Enterprising Investor
9 years ago
Tribute Announces Results of Shareholder Vote (2/01/16)
MILTON, ONTARIO--(Marketwired - Feb. 1, 2016) - Tribute Pharmaceuticals Canada Inc. (TSX VENTURE:TRX)(OTCQX:TBUFF) ("Tribute" or the "Company"), a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada and the U.S., today announced that it has received overwhelming shareholder approval of the previously announced plan of arrangement (the "Arrangement") with, among others, Aralez Pharmaceuticals Inc. ("Aralez") (see press release dated December 7, 2015), which forms part of the pending transaction with POZEN Inc. ("POZEN") (NASDAQ:POZN).
Of the votes cast at the Tribute shareholder's meeting held today, approximately 99.81% voted in favour of the special resolution approving the Arrangement.
The Company will now apply to the Ontario Superior Court of Justice (Commercial List) for a final order (the "Final Order") approving the Arrangement. The hearing in respect of the Final Order is expected to take place on February 2, 2016 at 10:00 a.m. (Toronto time) at 330 University Avenue, Toronto, Ontario.
Provided that the Final Order is granted, and the remaining conditions are satisfied including approval of the POZEN shareholders at its meeting scheduled for February 2, 2016, it is anticipated that the Arrangement will close on or about February 5, 2016.
Transaction Terms and Structure
In connection with the transaction, POZEN formed Aralez, organized under the laws of British Columbia, Canada. Pursuant to the terms of the proposed transaction, a Canadian subsidiary of Aralez ("Can Merger Sub") will amalgamate with Tribute by way of the Arrangement, Upon completion of the Arrangement, Tribute and Can Merger Sub will continue as one corporation ("Amalco") and Amalco will become a wholly-owned subsidiary of Aralez. Similarly, an indirect U.S. subsidiary of Aralez will merge with POZEN, with POZEN surviving as an indirect wholly-owned subsidiary of Aralez. At closing, each share of POZEN common stock will be converted into the right to receive one Aralez common share and each common share of Tribute (other than dissenting shares) will be exchanged for 0.1455 of an Aralez common share. As a result of the proposed transaction and before giving effect to a contemplated concurrent financing, stockholders of POZEN will own approximately 64 percent of Aralez and shareholders of Tribute will own approximately 36 percent of Aralez, in each case prior to giving effect to any exercise of any outstanding options or warrants or vesting and delivery of any restricted stock units of either company after the date hereof. It is a condition of closing that the common shares of Aralez be approved for listing on the NASDAQ, subject to official notice of issuance, and conditionally approved on the Toronto Stock Exchange ("TSX").
Additional Information and Where to Find It
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ ARALEZ'S REGISTRATION STATEMENT ON FORM S-4 AND POZEN'S RELATED PRELIMINARY AND DEFINITIVE PROXY/PROSPECTUS AS WELL AS TRIBUTE'S INFORMATION CIRCULAR BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT ARALEZ, POZEN, TRIBUTE AND THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of these documents and other related documents filed with the SEC at the SEC's website at www.sec.gov. Investors and security holders may obtain free copies of the Information Circular and other documents filed by Tribute on the System for Electronic Document Analysis Retrieval ("SEDAR") website maintained by the Canadian Securities Administrators at www.sedar.com. Investors and security holders may obtain free copies of the documents filed by POZEN with the SEC on POZEN's website at www.pozen.com under the heading "Investors" and then under the heading "SEC Filings" and free copies of the documents filed by Tribute with the SEC on Tribute's website at www.tributepharma.com under the heading "Investors" and then under the heading "SEC Filings."
POZEN, Tribute and Aralez and their respective directors and executive officers may be deemed participants in the solicitation of proxies from the stockholders of POZEN and shareholders of Tribute and Aralez in connection with the proposed transaction. Information regarding the special interests, if any, of these directors and executive officers in the proposed transaction is included in the proxy statement/prospectus and Information Circular described above. Additional information regarding the directors and executive officers of POZEN and Tribute is contained in their respective annual reports on Form 10-K for the year ended December 31, 2014 filed with the SEC.
This communication does not constitute an offer to sell, or the solicitation of an offer to sell, or the solicitation of an offer to subscribe for or buy, any securities nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
For full prescribing information refer to the individual product websites.
About Tribute
Tribute is a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada and the U.S. markets.
Tribute markets Cambia® (diclofenac potassium for oral solution), Bezalip® SR (bezafibrate), Soriatane® (acitretin), NeoVisc® (1.0% sodium hyaluronate solution) Uracyst® (sodium chondroitin sulfate solution 2%), Fiorinal®, Fiorinal® C, Visken®, Viskazide®, Collatamp® G, Durela®, Proferrin®, Iberogast®, MoviPrep®, Normacol®, Resultz®, Pegalax®, Balanse®, Balanse® Kids, Diaflor™, Mutaflor®, and Purfem® in the Canadian market. Additionally, NeoVisc® and Uracyst® are commercially available and are sold globally through various international partnerships. Tribute also has the exclusive U.S. rights to Fibricor® and its related authorized generic. In addition, it has the exclusive U.S. rights to develop and commercialize Bezalip® SR in the U.S. and has the exclusive right to sell bilastine, a product licensed from Faes Farma for the treatment of allergic rhinitis and chronic idiopathic urticaria (hives), in Canada. The exclusive license is inclusive of prescription and non-prescription rights for bilastine, as well as adult and pediatric presentations in Canada. This product is subject to receiving Canadian regulatory approval. Tribute also has the Canadian rights to ibSium®, which was approved in Canada in June 2015 and two additional pipeline products including Octasa® and BedBugz™, both of which are pending submission to Health Canada.
Tribute's common shares are traded on the TSX Venture Exchange under the symbol "TRX" and on the OTCQX International under the symbol "TBUFF". For more detailed company information, including copies of this and other press releases, please visit www.tributepharma.com.
About POZEN
POZEN is a specialty pharmaceutical company that has historically focused on developing novel therapeutics for unmet medical needs and licensing those products to other pharmaceutical companies for commercialization. By utilizing this business model, POZEN has successfully developed and obtained United States Food and Drug Administration ("FDA") approval of two self-invented products. Funded by these milestones/royalty streams, POZEN has created a portfolio of cost-effective, evidence-based integrated aspirin therapies designed to enable the full power of aspirin to be realized by reducing its GI damage.
POZEN's common stock is traded under the symbol "POZN" on The NASDAQ Global Market. For more detailed company information, including copies of this and other press releases, please visit www.pozen.com.
http://www.marketwired.com/press-release/tribute-announces-results-of-shareholder-vote-otcqx-tbuff-2092828.htm
Enterprising Investor
9 years ago
POZEN Announces Effectiveness Of Aralez Registration Statement On Form S-4 And Provides Update On Key Milestones For 2016 (12/28/15)
-POZEN schedules stockholder meeting for February 2, 2016-
-Plan to re-file YOSPRALA™ New Drug Application early in the second quarter; Approval and launch targeted in fourth quarter-
CHAPEL HILL, N.C., Dec. 28, 2015 /PRNewswire/ -- POZEN Inc. ("POZEN") (NASDAQ: POZN) today announced that the registration statement on Form S-4 filed by Aralez Pharmaceuticals Inc. ("Aralez") on December 14, 2015 with the U.S. Securities and Exchange Commission (SEC) has been declared effective. Pozen also announced that it has scheduled its stockholder meeting in connection with the pending transaction with Tribute Pharmaceuticals Canada Inc. ("Tribute") for February 2, 2016. The company also provided updates on several key milestones for YOSPRALA™ and Fibricor®.
POZEN is targeting submission of the New Drug Application ("NDA") for its investigational drug candidates PA8140/PA32540 (aspirin and omeprazole) delayed release tablets, also referred to as YOSPRALA, with the Food and Drug Administration ("FDA") early in the second quarter of 2016, focusing its efforts toward using its previously designated secondary aspirin active pharmaceutical ingredient ("API") supplier as its primary supplier in connection with this NDA. Significant progress has been made with this supplier which is a global leader in aspirin manufacturing. POZEN will consider the inclusion of both aspirin API suppliers in the NDA package for YOSPRALA. Assuming the Tribute transaction closes shortly after the POZEN shareholder meeting, the company also plans to begin promoting Fibricor in April with a 20 to 25 person sales force ahead of the expected fourth quarter launch of YOSPRALA.
POZEN also announced that the FDA has completed re-inspection of the manufacturing facility of its previously designated primary aspirin API supplier and issued an additional 483 notice, citing numerous observations. In an effort to respond to these FDA observations as quickly as possible, the supplier has decided to voluntarily stop production at this facility, thereby allowing the manufacturer to focus its available resources on remediating these observations. Production at this facility is expected to resume on or about February 29, 2016.
"We are pleased to provide clarity on the timing of our transaction with Tribute and on other important milestones, including those relating to YOSPRALA and Fibricor," said Adrian Adams, Chief Executive Officer of POZEN Inc. "We spent considerable time working with our previously designated secondary aspirin API supplier as a back-up option and we are now pleased to move forward with them as the primary source of our aspirin. We fully support the former primary supplier's decision to dedicate all of its efforts to remediate the FDA 483 observations and look forward to having them continue as an additional supplier providing they are able to remediate the issues identified by the FDA. Most importantly, we believe that we remain on track for potential approval and launch of YOSPRALA in 2016."
Form S-4 / Proxy Statement Details
The Form S-4, which includes a proxy statement of POZEN, related to the Tribute transaction described below and securities to be issued by Aralez to the securityholders of POZEN in connection with this transaction, was declared effective on December 28, 2015. The Form S-4 is available on the SEC's website, and may be accessed at http://www.sec.gov/Archives/edgar/data/1660719/000104746915009181/0001047469-15-009181-index.htm. Upon completion of the Tribute transaction, which is expected to occur in early February 2016, the combined company will be named Aralez Pharmaceuticals Inc. and will be domiciled in Canada.
POZEN's special meeting of its stockholders will be held on February 2, 2016 at 8:30 a.m. EST, at the offices of DLA Piper LLP (US) at 1251 Avenue of the Americas, New York, New York 10020. This meeting is being held to seek stockholder approval of the transaction agreement and related matters. POZEN is expected to immediately begin mailing a proxy statement/prospectus to its stockholders. This proxy statement/prospectus on Form S-4 will provide information for POZEN stockholders related to the transaction as well as instructions for POZEN stockholders on voting. POZEN's stockholders of record as of the close of business on December 23, 2015 are entitled to vote at the POZEN stockholder meeting.
The Board of Directors of POZEN has unanimously recommended that POZEN stockholders vote to approve the transaction to be considered at POZEN's special meeting of its stockholders and the other proposals set forth in the proxy statement/prospectus on Form S-4.
Transaction Terms and Structure
POZEN has formed a new company, Aralez Pharmaceuticals Inc. ("Aralez"), organized under the laws of British Columbia, Canada. A Canadian subsidiary of Aralez will merge with Tribute, through a three-cornered amalgamation in a plan of arrangement, with Tribute surviving as a wholly-owned subsidiary of Aralez. Similarly, an indirect U.S. subsidiary of Aralez will merge with POZEN, with POZEN surviving as an indirect wholly-owned subsidiary of Aralez. At closing, each share of POZEN common stock will be converted into the right to receive one Aralez common share and each common share of Tribute (other than dissenting shares) will be exchanged for 0.1455 of an Aralez common share. This exchange ratio remains unchanged from the ratio announced when the parties initially entered into the agreement and plan of merger. As a result of the proposed transaction and before giving effect to the contemplated financing, stockholders of POZEN will own approximately 64 percent of Aralez and shareholders of Tribute will own approximately 36 percent of Aralez, in each case prior to giving effect to any exercise of any outstanding options or warrants or vesting and delivery of any restricted stock units of either company after the date hereof. As of December 7, 2015, POZEN had approximately 33.2 million common shares outstanding and 39.3 million fully diluted shares and Tribute had approximately 126.2 million common shares outstanding and 163.4 million fully diluted shares. The transaction is expected to be taxable to the POZEN stockholders. It is a condition of closing that the common shares of Aralez be approved for listing on the NASDAQ and conditionally approved on the TSX.
Additional Information and Where to Find It
INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE RELATED PRELIMINARY AND DEFINITIVE PROXY/PROSPECTUS AS THEY CONTAIN IMPORTANT INFORMATION ABOUT ARALEZ, POZEN, TRIBUTE AND THE PROPOSED TRANSACTION. Investors and securityholders may obtain free copies of these documents (when they are available) and other related documents filed with the SEC at the SEC's web site at www.sec.gov. Investors and securityholders may obtain free copies of the documents filed by POZEN and Aralez with the SEC on POZEN's website at www.POZEN.com under the heading "Investors" and then under the heading "SEC Filings".
POZEN and Aralez and their respective directors and executive officers may be deemed participants in the solicitation of proxies from the stockholders of POZEN and shareholders of Aralez in connection with the proposed transaction. Information regarding the special interests, if any, of these directors and executive officers in the proposed transaction are included in the proxy statement/prospectus. Additional information regarding the directors and executive officers of POZEN and Tribute is contained in their respective Annual Reports on Form 10-K for the year ended December 31, 2014 filed with the SEC.
This communication does not constitute an offer to sell, or the solicitation of an offer to sell, or the solicitation of an offer to subscribe for or buy, any securities nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
For full prescribing information refer to the individual product websites.
About POZEN
POZEN is a specialty pharmaceutical company that has historically focused on developing novel therapeutics for unmet medical needs and licensing those products to other pharmaceutical companies for commercialization. By utilizing a unique in-source model and focusing on integrated therapies, POZEN has successfully developed and obtained FDA approval of two self-invented products. Funded by these milestones/royalty streams, POZEN has created a portfolio of cost-effective, evidence-based integrated aspirin therapies designed to enable the full power of aspirin by reducing its GI damage.
On June 2, 2015, POZEN announced the formation of Aralez Pharmaceuticals Trading DAC (formerly "Pozen Limited"), a wholly-owned Irish subsidiary, to expand its geographic footprint and increase its global presence, including potential international sales, manufacturing and product development.
POZEN's common stock is traded under the symbol "POZN" on The NASDAQ Global Market. For more detailed company information, including copies of this and other press releases, please visit www.pozen.com.
About Tribute
Tribute is a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada and the U.S. markets.
Tribute markets Cambia® (diclofenac potassium for oral solution), Bezalip® SR (bezafibrate), Soriatane® (acitretin), NeoVisc® (1.0% sodium hyaluronate solution) Uracyst® (sodium chondroitin sulfate solution 2%), Fiorinal®, Fiorinal® C, Visken®, Viskazide®, Collatamp® G, Durela®, Proferrin®, Iberogast®, MoviPrep®, Normacol®, Resultz®, Pegalax®, Balanse®, Balanse® Kids, Diaflor™, Mutaflor®, and Purfem® in the Canadian market. Additionally, NeoVisc® and Uracyst® are commercially available and are sold globally through various international partnerships. Tribute also has the exclusive U.S. rights to Fibricor® and its related authorized generic. In addition, it has the exclusive U.S. rights to develop and commercialize Bezalip® SR in the U.S. and has the exclusive right to sell bilastine, a product licensed from Faes Farma for the treatment of allergic rhinitis and chronic idiopathic urticaria (hives), in Canada. The exclusive license is inclusive of prescription and non-prescription rights for bilastine, as well as adult and pediatric presentations in Canada. This product is subject to receiving Canadian regulatory approval. Tribute also has the Canadian rights to ibSium®, which was approved in Canada in June 2015 and two additional pipeline products including Octasa® and BedBugz™, both of which are pending submission to Health Canada.
Tribute's common shares are traded on the TSX Venture Exchange under the symbol "TRX" and on the OTCQX International under the symbol "TBUFF". For more detailed company information, including copies of this and other press releases, please visit www.tributepharma.com.
http://www.prnewswire.com/news-releases/pozen-announces-effectiveness-of-aralez-registration-statement-on-form-s-4-and-provides-update-on-key-milestones-for-2016-300197149.html
Enterprising Investor
9 years ago
QLT Calls Special Meeting of Its Shareholders in Connection With Aralez Pharmaceuticals Transaction (12/28/15)
Provides Update on Return of Capital
VANCOUVER, British Columbia, Dec. 28, 2015 (GLOBE NEWSWIRE) -- QLT Inc. (NASDAQ:QLTI) (TSX:QLT) (“QLT”) today announced that it has called a special meeting of its shareholders (the “Special Meeting”) to approve a reorganization of its share capital pursuant to a statutory plan of arrangement (the “Share Reorganization”). As discussed below, if approved, the Share Reorganization is expected to permit QLT to distribute common shares of Aralez Pharmaceuticals Inc. (“Aralez”) to QLT shareholders in a tax efficient manner. It is anticipated that the Special Meeting will be held on February 11, 2016, in Vancouver, Canada.
Further to QLT’s press releases issued on June 8, 2015 and December 7, 2015, QLT has agreed to make an equity investment of US$45 million in Aralez, which will be a newly formed company resulting from the pending merger transaction between POZEN Inc. (NASDAQ:POZN) (“POZEN”) and Tribute Pharmaceuticals Canada Inc. (TSX-V:TRX) (OTCQX:TBUFF) (“Tribute”). The POZEN - Tribute merger transaction and QLT’s equity financing in Aralez are expected to close in the first quarter of 2016. Upon closing, Aralez common shares are expected to trade on the NASDAQ and TSX.
As part of the Share Reorganization, following its acquisition of Aralez common shares QLT intends to distribute such shares to its shareholders. In connection with that distribution, QLT has made arrangements with third parties so that QLT shareholders will be given the opportunity to elect to receive, in lieu of Aralez shares, up to an aggregate of $15 million in cash, subject to pro ration among the shareholders. Details of the distribution of the Aralez common shares under the Share Reorganization and certain anticipated tax consequences of such distribution will be contained in the Proxy Statement to be prepared by QLT and mailed to its shareholders in connection with the Special Meeting.
QLT also confirms that the board of directors of QLT has further considered and determined that in light of the termination of the merger with InSite Vision Incorporated (“InSite”) and other factors, it is not in the best interests of QLT at this time to issue to QLT’s shareholders up to $25 million of redeemable convertible notes. The issuance of the notes had been previously contemplated and announced by QLT on June 8, 2015 in connection with its proposed merger with InSite and had been subject to certain conditions, including a formal approval of the notes by the board.
About QLT
QLT is a biotechnology company dedicated to the development and commercialization of innovative ocular products that address the unmet medical needs of patients and clinicians worldwide. We are focused on developing our synthetic retinoid program for the treatment of certain inherited retinal diseases.
QLT’s head office is based in Vancouver, Canada and the Company is publicly traded on NASDAQ Stock Market (symbol: QLTI) and the Toronto Stock Exchange (symbol: QLT). For more information about the Company’s products and developments, please visit our web site at www.qltinc.com.
Important Information For Investors And Shareholders
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the transactions referred to in this material, QLT expects to file a proxy statement with the Securities and Exchange Commission (“SEC”). This material is not a substitute for the proxy statement or for any other document that QLT may file with the SEC and send to QLT’s shareholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF QLT ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the proxy statement (when available) and other documents filed with the SEC by QLT through the website maintained by the SEC at http://www.sec.gov and also on the System for Electronic Document Analysis Retrieval (“SEDAR”) website maintained by the Canadian Securities Administrators at www.sedar.com. QLT stockholders may also obtain these documents, free of charge, from QLT's website at www.qltinc.com under the heading "Investors" and then under the heading "Proxy Circulars" or upon request directly to QLT to the attention of "QLT Investor Relations," 887 Great Northern Way, Suite 250, Vancouver, British Columbia, Canada, V5T 4T5.
QLT and certain of its directors and executive officers may be considered participants in the solicitation of proxies with respect to the proposed transaction under the rules of the SEC. Information about the directors and executive officers of QLT is set forth in its Annual Report on Form 10-K for the year ended December 31, 2014, which was filed with the SEC on February 26, 2015. This document can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in any proxy statement and other relevant materials to be filed with the SEC when they become available.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” of QLT within the meaning of the Private Securities Litigation Reform Act of 1995 and constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward looking statements include, but are not limited to, statements concerning the proposed closing of the combination of Tribute and POZEN under Aralez, the proposed investment in Aralez and the subsequent distribution of the Aralez shares (or cash in lieu) to QLT shareholders, the intention of certain third parties to provide a $15 million backstop for those QLT shareholders who elect to receive cash in lieu of Aralez shares (subject to proration) and the availability of certain liquidity events for shareholders (collectively, the “Proposed Transactions”) including any statements regarding the expected timetable for completing the Proposed Transactions, including the timing for holding the Special Meeting, the effect of the Proposed Transactions on QLT and the QLT shares, the future potential of Aralez and any other statements regarding QLT’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts are “forward-looking” statements made within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are often, but not always, made through the use of words or phrases such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” “aim,” “on track,” “target,” “opportunity,” “tentative,” “positioning,” “designed,” “create,” “predict,” “project,” “seek,” “would,” “could,” “potential,” “continue,” “ongoing,” “upside,” “increases,” and “potential” and similar expressions. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the timing to consummate the Proposed Transactions; the risk that a condition to closing the Proposed Transactions may not be satisfied; the risk that POZEN or Aralez stock price could decline; and uncertainties relating to QLT’s development plans, timing and results of the clinical development and commercialization of QLT’s products and technologies. Additional information concerning these and other factors can be found in QLT’s filings with the SEC, including QLT’s most recent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. QLT assumes no obligation to update any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking that speak only as of the date hereof.
QLT Inc. Contacts:
For Investors:
Andrea Rabney or David Pitts
Argot Partners
P: 212-600-1902
andrea@argotpartners.com
david@argotpartners.com
For Media:
Chuck Burgess or Mike Pascale
Abernathy MacGregor
P:212-371-5999
clb@abmac.com
mmp@abmac.com
http://globenewswire.com/news-release/2015/12/28/798213/0/en/QLT-Calls-Special-Meeting-of-Its-Shareholders-in-Connection-With-Aralez-Pharmaceuticals-Transaction.html
djpope
10 years ago
(POZN) Tribute to Unite Under Newly Formed Aralez Label
The main thing I don't understand is How? can they estimate the value of the new combined company (Aralez Pharmaceuticals plc) along with Tribute and Pozen's share price value if Aralez has no share price value? Isn't the value of the new company what the market purchases of it's shares say it is?
Anyone? With a clue how they are pre-determining the $$$ value of the deal??
Also read elsewhere today: QLT also said it has agreed to make a $45 million equity investment in Aralez Pharmaceuticals plc. So isn't the share price value of Alarez still a fluid, moveable amount?
TIA & Enjoy dp
https://www.biospace.com/News/pozen-inc-tribute-to-unite-under-newly-formed/380423
June 8, 2015
By Alex Keown, BioSpace.com Breaking News Staff
NEW YORK – North Carolina-based Pozen, Inc. (POZN) will acquire Tribute Pharmaceuticals Canada for $146 million. Both companies will unite under the newly formed named Aralez Pharmaceuticals, which will be based in Ireland.
The new company will utilize the products and pipelines from both pharmaceutical companies. The Aralez deal resulting in the combination of Pozen and Tribute is subject to stockholder approval by the Pozen and Tribute stockholders as well as other closing conditions. Aralez Pharmaceuticals Ltd. will re-register as Aralez Pharmaceuticals plc upon closing of such transactions. If all goes well, the deal is expected to be finalized by the end of 2015.
Adrian Adams, Pozen’s chief executive officer, said the acquisition will “enhance our offerings while providing significant benefits for all of our stakeholders.”
Rob Harris, CEO of Tribute, said the deal will allow the company to “leverage the expertise of its management team across the healthcare, pharmaceutical and, in particular, cardiovascular sectors.”
In response to the news, Pozen Inc.’s stock was trading at $9.09 per share this morning, up from the opening price of $8.50 per share. Tribute Pharmaceutical’s stock was also trending upward, trading at $1.23 per share, up from the opening of $1.05 per share.
The new Aralez has already received $300 million in funding provided by Deerfield Management Company. Under terms of the agreement Deerfield will provide $75 million in six year convertible notes, up to $25 million in equity and a $200 million commitment available for future product acquisitions. The new company will bring together the management team of both Tribute and Pozen, Deerfield said. However, there was no word on whether or not the new company would issue pink slips to avoid redundant positions, or would require additional employees to bolster new pipeline avenues. Deerfield did not respond to BioSpace (DHX) inquiries by the time this article was published.
Aralez will use the capital funding to launch Yosprala upon approval from the U.S. Food and Drug Administration (FDA). Yosprala is Pozen’s “safer aspirin" product that contains either 325 mg or 81 mg of enteric-coated aspirin surrounded by 40 mg of immediate release omeprazole. In December Pozen and Sanofi (SNY) terminated their agreement to commercialize Yosprala in the United States. The two companies stuck an agreement in 2013 that included $15 million in upfront money, an additional $20 million in milestone payments and tiered royalties of 12.25 to 22.5 percent. Also in December Pozen received two complete response letters from the FDA after investigators found deficiencies during an inspection of a foreign manufacturing facility. There were no clinical or safety issues noted in the letters with respect to the drugs, and no other problems were cited.
With this vote of confidence, Aralez will have a unique mix of capital, products and talent, enabling us to drive significant innovation and growth,” Adams said in a statement.
In addition to Yosprala, Pozen also makes Treximet, an FDA approved drug for migraines. The company also co-developed Vimovo with AstraZeneca PLC (AZN). Vimovo was approved by the FDA for the relief of osteoarthritis, rheumatoid arthritis and ankylosing spondylitis, as well as to decrease the risk of developing gastric ulcers in patients at risk of developing NSAID-associated gastric ulcers.
Tribute markets migraine medication Cambia, hyperlipidaemia drug Bezalip SR, psoriasis drug Soriatane, NeoVisc, for the treatment of joint pain and others.
stocktrademan
10 years ago
$POZN DD Notes ~ http://www.ddnotesmaker.com/POZN
bullish
$POZN recent news/filings
## source: finance.yahoo.com
Tue, 07 Oct 2014 23:00:12 GMT ~ Nasdaq stocks posting largest percentage increases
read full: http://sg.finance.yahoo.com/news/nasdaq-stocks-posting-largest-percentage-220237991--finance.html
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Wed, 01 Oct 2014 12:00:00 GMT ~ Horizon Pharma plc Announces the U.S. Patent and Trademark Office Issuance of Additional Notice of Allowance With Claims Covering VIMOVO(R) (naproxen/esomeprazole) Delayed Release Tablets
[Marketwired] - Horizon Pharma plc a specialty biopharmaceutical company with a portfolio of products in arthritis, inflammation and orphan diseases, announced today that POZEN Inc. , has received from the United States ...
read full: http://finance.yahoo.com/news/horizon-pharma-plc-announces-u-120000085.html
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Wed, 20 Aug 2014 12:05:20 GMT ~ POZEN INC /NC Files SEC form 8-K, Entry into a Material Definitive Agreement
read full: http://biz.yahoo.com/e/140820/pozn8-k.html
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Wed, 20 Aug 2014 12:00:00 GMT ~ POZEN Announces U.S. Rights For TREXIMET® Have Been Acquired by Pernix Therapeutics
[Business Wire] - POZEN Inc. , a pharmaceutical company committed to transforming medicine that transforms lives, today announced that the acquisition of all of GlaxoSmithKline’s rights to Treximet® have been acquired by Pernix Therapeutics Holdings, Inc.
read full: http://finance.yahoo.com/news/pozen-announces-u-rights-treximet-120000177.html
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Tue, 19 Aug 2014 17:04:17 GMT ~ POZEN INC /NC Financials
read full: http://finance.yahoo.com/q/is?s=pozn
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$POZN charts
basic chart ## source: stockcharts.com
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$POZN company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/POZN/company-info
Ticker: $POZN
OTC Market Place: Not Available
CIK code: 0001059790
Company name: POZEN Inc.
Incorporated In: DE, USA
$POZN share structure
## source: otcmarkets.com
Market Value: $245,604,499 a/o Oct 07, 2014
Shares Outstanding: 31,528,177 a/o Aug 01, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.001
$POZN extra dd links
Company name: POZEN Inc.
## STOCK DETAILS ##
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## FUNDAMENTALS ##
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Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=POZN+Cash+Flow&annual
## HOLDINGS ##
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## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
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$POZN DD Notes ~ http://www.ddnotesmaker.com/POZN
eastunder
11 years ago
POZEN Reports Fourth Quarter & Year End 2013 Results
Company Confirms Strategic Goals of Maximizing Shareholder Value, Expense Control and Returning Excess Cash to Shareholders
http://finance.yahoo.com/news/pozen-reports-fourth-quarter-end-123000636.html
CHAPEL HILL, N.C.--(BUSINESS WIRE)--
POZEN Inc. (POZN), a pharmaceutical company committed to transforming medicine that transforms lives, today announced results for the fourth quarter and year ended December 31, 2013.
2013 and Recent Corporate Highlights
• In September 2013, POZEN and Sanofi US announced the signing of an exclusive license agreement for the commercialization of PA8140/PA32540. Under the terms of the agreement, Sanofi US will have exclusive rights to commercialize all PA combinations that contain 325 mg or less of enteric-coated aspirin in the United States. POZEN received an upfront payment of $15 million and will be eligible for pre-commercial milestone payments of up to $20 million and other future milestone payments and royalties on product sales. Sanofi US has responsibility for all sales, marketing, ongoing manufacturing and future development for the licensed PA products in the U.S. POZEN retains responsibility for obtaining approval of the NDA, after which time POZEN will transfer the NDA to Sanofi US.
• In November 2013, AstraZeneca AB and Horizon Pharma USA, Inc. (HZNP) announced that they entered into an agreement for Horizon to acquire the U.S. rights for VIMOVO® (naproxen / esomeprazole magnesium) delayed release tablets. Under the terms of the agreement, POZEN will continue to receive a 10% royalty on net sales of products sold in the United States, with guaranteed annual minimum royalty payments of $5 million in 2014, and $7.5 million each year thereafter, provided that the patents owned by POZEN which cover VIMOVO are in effect and no generic forms of VIMOVO are on the market. Also under the agreement, Horizon has assumed AstraZeneca’s right to lead the on-going Paragraph IV litigation for VIMOVO and will assume all patent-related defense costs relating to such litigation, including reimbursement for a specified amount of the cost of counsel retained by POZEN. AstraZeneca will continue to have rights to commercialize VIMOVO outside of the United States.
• The POZEN Board of Directors declared a special cash distribution of $1.75 per share to all stockholders of record as of the close of business on December 11, 2013, and payment was made on December 30, 2013. This distribution represented a surplus of corporate cash and was treated as a return of capital to stockholders.
• Results from POZEN’s Phase 1 study, PA10040-101, demonstrated that PA10040, POZEN’s proprietary combination of aspirin (100 mg) and omeprazole (40 mg), had comparable bioavailability, and is bioequivalent to a European Union (E.U.) reference listed enteric-coated (EC) aspirin (100 mg). The 100 mg dose of aspirin is most commonly used in Europe and in other ex-U.S. regions.
• Q4 2013 global net sales of VIMOVO by AstraZeneca, as defined under our agreement, were $25 million, up 36% vs. Q4 2012 and up 9% from Q3 2013. POZEN earned a royalty of $1.7 million in Q4 2013. Total 2013 net sales of VIMOVO were $91 million, up 42% from 2012, and POZEN earned a royalty of $6.3 million, up 30% year on year. We anticipate continued growth in VIMOVO sales and royalties this year.
Fourth Quarter Results
For the fourth quarter of 2013, POZEN reported total revenue of $4.7 million, resulting from $1.7 million VIMOVO royalty and $3.0 million from the amortization of the $15 million upfront fee for the licensing of PA. The upfront payment is being amortized over fifteen months starting in September 2013. For the fourth quarter of 2012, the Company reported total revenue of $1.4 million of VIMOVO royalty.
Operating expenses for the fourth quarter of 2013 totaled $6.9 million, as compared to $7.5 million for the comparable period in 2012. The decrease in operating expenses in the fourth quarter of 2013 was primarily a result of lower development and pre-commercialization costs for PA.
The Company reported a net loss of $(2.2) million, or $(0.07) loss per share for the fourth quarter of 2013, compared to net loss of $(6.1) million, or $(0.20) per share on a diluted basis, for the fourth quarter of 2012.
Twelve Month Results
For the twelve months ended December 31, 2013, POZEN reported revenue of $10.3 million compared to $5.3 million in 2012, up 93% year over year. The 2013 revenue is comprised of $6.3 million royalty revenue from sales of VIMOVO and $4.0 million amortization of the PA upfront licensing fee. The 2012 revenue is primarily royalty revenue from sales of VIMOVO.
Operating expenses for the twelve months ended December 31, 2013 were $27.1 million compared to $30.9 million in the same period in 2012. The decrease in operating expenses was primarily a result of lower PA32540 development and pre-commercialization costs, partially offset by PA deal related costs and higher intellectual property litigation costs.
For the full year of 2013, the Company reported a net loss of $(16.7) million, or $(0.55) per share compared to net loss of $(25.3) million, or $(0.84) per share on a diluted basis, for the same period in 2012.
Balance Sheet
At December 31, 2013, cash and cash equivalents totaled $32.8 million, after payment of the $53.6 million distribution on December 30, 2013.
2014 Strategic Direction
The Company was pleased to return $1.75 per share of surplus corporate cash to shareholders in 2013. For 2014, the Company’s areas of strategic focus are: obtaining FDA approval for PA8140/PA32540; transitioning all licensed know-how relating to PA8140/PA32540 in the United States and fulfilling all contractual obligations to Sanofi US; completing study PA10040-102, an additional Phase 1 pharmacodynamics study; preparing the regulatory filing document for PA product candidates in the European Union; finding partners for the PA asset in ex-U.S. territories; and controlling expenses. As part of controlling expenses, we have reduced our R&D staff and other costs and in the future will continue to reduce staff not required to support our ongoing business activities. Our board of directors and management team continue to explore potential ways to return value to our shareholders, including future cash distributions when we accumulate surplus cash as a result of receiving milestones and royalties from our commercial partners.
Fourth Quarter Results Webcast
POZEN will host a webcast to present fourth quarter and year end 2013 results and management’s outlook on Wednesday, March 5, 2014 at 11:00 a.m. (ET). The webcast can be accessed live and will be available for replay at www.pozen.com.
About POZEN
POZEN Inc. is a small pharmaceutical company that specializes in developing novel therapeutics for unmet medical needs and licensing those products to other pharmaceutical companies for commercialization. By utilizing a unique in-source model and focusing on integrated therapies, POZEN has successfully developed and obtained FDA approval of two self-invented products in two years. Funded by these milestones/royalty streams, POZEN has created a portfolio of cost-effective, evidence-based integrated aspirin therapies designed to enable the full power of aspirin by reducing its GI damage.
POZEN is currently seeking strategic partners to help maximize the opportunities for its portfolio assets.
The Company's common stock is traded under the symbol “POZN” on The NASDAQ Global Market. For more detailed company information, including copies of this and other press releases, please visit www.pozen.com.
About PA
POZEN has created a portfolio of investigational integrated aspirin therapies - the PA product platform. The products in the PA portfolio are being developed with the goal of significantly reducing GI ulcers and other GI complications compared to taking enteric-coated or plain aspirin alone.
The first candidates are PA32540, containing 325 mg of aspirin, and PA8140, containing 81 mg of aspirin. Both products are a coordinated-delivery tablet combining immediate-release omeprazole (40 mg), a proton pump inhibitor, layered around a pH-sensitive coating of an aspirin core. This novel, patented product is intended for oral administration once a day and an indication is being sought for use for the secondary prevention of cardiovascular disease in patients at risk for aspirin-induced gastric ulcers.
Proposed PA8140/PA32540 Indications and Usage (Pending FDA Review and Approval)
PA8140/PA32540 Tablets contain 81 mg or 325 mg delayed release aspirin and 40 mg immediate-release omeprazole and are indicated for patients who require aspirin (1) to reduce the combined risk of death and nonfatal stroke in patients who have had ischemic stroke or transient ischemia of the brain due to fibrin platelet emboli, (2) to reduce the combined risk of death and nonfatal MI in patients with a previous MI or unstable angina pectoris, (3) to reduce the combined risk of MI and sudden death in patients with chronic stable angina pectoris, (4) in patients who have undergone revascularization procedures (CABG, PTCA) when there is a pre-existing condition for which aspirin is already indicated, and to decrease the risk of developing gastric ulcers in patients at risk for developing aspirin-associated gastric ulcers.
Controlled studies with PA8140/PA32540 Tablets do not extend beyond 6 months.
About VIMOVO
VIMOVO® (naproxen / esomeprazole magnesium) is a fixed-dose combination of delayed-release enteric-coated naproxen, a non-steroidal anti-inflammatory drug (NSAID), and immediate-release esomeprazole, a stomach acid-reducing proton pump inhibitor (PPI), approved for the relief of signs and symptoms of osteoarthritis, rheumatoid arthritis, and ankylosing spondylitis, and to decrease the risk of developing gastric ulcers in patients at risk of developing NSAID-associated gastric ulcers.VIMOVO is not recommended for use in children younger than 18 years of age. VIMOVO is not recommended for initial treatment of acute pain because the absorption of naproxen is delayed compared to absorption from other naproxen-containing products. Controlled studies do not extend beyond 6 months.VIMOVO should be used at the lowest dose and for the shortest amount of time as directed by your health care provider.
eastunder
11 years ago
I'm long also. I wanted the special div (which already paid) and I now I want to see what happens with PA8140 and PA32540 in April.
Motley had a good article a few weeks ago.
Pozen's Wagon is Tied to Horizon and Sanofi
By Todd Campbell |
February 21, 2014 |
http://www.fool.com/investing/general/2014/02/21/pozen-ties-its-wagon-to-horizon-and-sanofi.aspx
Sometimes collaboration deals with big pharmaceutical companies don't work out, and that was the case with Pozen's (NASDAQ: POZN ) once-lucrative partnership with AstraZeneca (NYSE: AZN ) The two teamed up to develop arthritis drug Vimovo in 2006, but sales have been elusive since the compound won FDA approval in 2010.
However, that may change given Astra sold its interest in Vimovo to Horizon (NASDAQ: HZNP ) in November. Pozen hopes the shift to a more willing partner means Vimovo may finally fulfill its promise. If not, then Pozen's chances for success rest squarely on a recently inked deal with Sanofi (NYSE: SNY ) instead.
Resurrecting Vimovo
Between 2009 and 2011, Astra paid Pozen more than $50 million in milestones tied to Vimovo global filings and approvals. Yet, despite those payments Astra announced last March it was walking away from marketing the drug as part of major restructuring. As a result, royalties paid to Pozen by Astra totaled just $4.6 million through the first nine months of 2013.
That means the bar has been set pretty low for Horizon. The company paid Astra $35 million for the rights to Vimovo in hopes it can substantially boost sales by leveraging its existing rheumatology sales force.
While Horizon only recently closed on the acquisition, early results are encouraging. In January, Horizon reported Vimovo prescriptions improved 4% month-over-month in December.
That's good news for Pozen shareholders given Pozen will receive a 10% royalty on any of Vimovo's U.S. sales, or a minimum royalty payment of $5 million in 2014, and $7.5 million annually until generics reach the market.
Sanofi takes a chance
Much like Vimovo, which combined the NSAID Naproxen with a protein pump inhibitor to limit ulcers in arthritis patients, Pozen's PA drugs combine aspirin with a protein pump inhibitor to limit ulcers in cardiovascular patients.
Despite Vimovo's inability to capture market share, Sanofi still agreed to pay Pozen $15 million upfront last fall to team up on PA8140 and PA32540 in the United States. Pozen has already filed both compounds with the FDA for approval.
If approved, the two drugs may find a willing market. NSAIDs are often prescribed to prevent clotting and reduce the risk of heart attack and stroke. However, patients on aspirin therapy have up to a five-fold chance of getting peptic ulcers, which require additional treatment including proton pump inhibitors, antihistamines, and sometimes antibiotics.
More than 300,000 people are hospitalized each year for upper GI bleeding costing roughly $2.5 billion a year. Of those admissions, peptic ulcers account for about 60% of all cases, suggesting an opportunity for Sanofi and Pozen.
For this reason, Sanofi has also agreed to pay up to $20 million in additional milestones tied to the approval of the PA drugs, as well as a 12.5% to 22.5% royalty on sales.
Fool-worthy final thoughts
Bigger royalty payments for Vimovo would be welcome, but such payments hinge entirely on Horizon's sales team. That means Pozen investors should be watching Horizon closely for cues as to whether Vimovo is gaining ground or flat-lining.
It's similarly tough to gauge the potential impact of the Sanofi deal on Pozen given the PA drugs work similarly to Vimovo and have yet to win approval. Investors will need to watch the FDA closely on April 25th, the day they're scheduled to make a decision
If Pozen does get approval for those compounds, a partnership with a company for overseas rights will probably come soon after. However, since Pozen's fate rests on companies other than itself, it remains a highly speculative investment.
$$$eeker
11 years ago
$POZN
"I was told it was for SH's of record on 12/30 with payment in January."
This is correct because of the 25% rule.
POZEN Inc. (POZN), a pharmaceutical company committed to transforming medicine that transforms lives, today announced that the ex-dividend date for POZEN’s previously announced $1.75 special cash distribution is December 31, 2013. On November 21, 2013 POZEN announced that its Board of Directors had declared a special cash distribution of $1.75 per share payable to stockholders of record holding outstanding shares of POZEN’s common stock as of the close of business on December 11, 2013, with an expected payment date of December 30, 2013. Because the special cash distribution exceeded 25% of the value of POZEN’s common stock at the time of declaration, in accordance with Financial Industry Regulatory Authority Rule 11140, NASDAQ has determined that the ex-dividend date for this special cash distribution will be December 31, 2013, the first business day following the payable date. As a result, shares of POZEN’s common stock issued and outstanding on December 11, 2013 shall continue to trade with the right to receive the special cash distribution through the expected payment date of December 30, 2013. Please consult with your broker, legal or financial advisors as to any questions concerning the impact of the December 31, 2013 ex-dividend date.
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