POZN
Pozen, Inc.NASDAQ
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  • Dec. 28, 2015, 9:47 AM
    • February 2 is the date for Pozen's (POZN -0.4%) special shareholders meeting to vote on its planned merger with Tribute Pharmaceuticals Canada (OTCQX:TBUFF +1.1%). If approved, the combined company will be domiciled in Canada and will do business as Aralez Pharmaceuticals.
    • Separately, POZEN intends to submit its New Drug Application (NDA) to the FDA in early Q2 for YOSPRALA (aspirin and omeprazole), the first candidates in its PA pipeline.
    • Its primary aspirin supplier will cease production at its manufacturing facility until February 29 in order to focus its efforts on addressing the Form 483 items cited during a recent re-inspection by the FDA.
    • Assuming a successful vote on February 2, the company plans to begin promoting Tribute's Fibricor in April via a 20 - 25-person direct salesforce. The launch of YOSPRALA should commence in Q4.
    • Tribute's special shareholders meeting will be held on February 1.
    | Dec. 28, 2015, 9:47 AM | 10 Comments
  • Dec. 7, 2015, 5:07 PM
    | Dec. 7, 2015, 5:07 PM
  • Nov. 23, 2015, 4:09 PM
    • Upon reviewing the U.S. Treasury Department's recent guidance on tax inversions, Pozen (NASDAQ:POZN) is now considering Canada as its corporate domicile instead of Ireland. After its merger with Tribute Pharmaceuticals Canada, the combined firm will do business as Aralez Pharmaceuticals. It will have operations in the U.S., Canada and Ireland.
    • According to the company, the Canadian domicile offers similar financial, tax and competitive advantages to an Irish domicile.
    • Previously: Pozen buys Tribute Pharma for $146M; both stocks rally (June 8)
    | Nov. 23, 2015, 4:09 PM | 7 Comments
  • Jun. 8, 2015, 12:12 PM
    • Pozen (POZN +21.2%) acquires Tribute Pharmaceuticals (OTCQX:TBUFF +16.2%), a Canadian specialty pharmaceutical firm, for $146M. Upon the completion of the transaction, anticipated in Q4, the combined company will be named Aralez Pharmaceuticals plc and domiciled in Ireland. The stock will trade on the Nasdaq and Toronto exchanges.
    • In connection with the deal, a syndicate of healthcare investors has committed up to $350M in growth capital to support the commercial launch of Yosprala and for future acquisitions. The investment includes $75M in equity at $7.20 per share, $75M in 2.5% Convertible Senior Secured Notes with a conversion price of $9.54 and up to $200M in senior secured debt.
    • Tribute's marketed products include Cambia (diclofenac potassium oral solution) for the treatment of migraine and Bezalip SR (bezafibrate) for mixed hyperlipidemia.
    | Jun. 8, 2015, 12:12 PM | 6 Comments