Pozen To Acquire Tribute Pharmaceuticals Canada For $146 Mln

(RTTNews) - Pozen Inc. (POZN) Monday announced the acquisition of Tribute Pharmaceuticals Canada Inc. (TRX.V) for around $146 million. The combined entity will be named Aralez Pharmaceuticals plc, with its base in Ireland. Aralez will trade on NASDAQ and TSX.

The acquisition will be completed in the fourth quarter of 2015. The new specialty pharmaceutical company will focus on innovative products and acquisitions and the commercialization of portfolio products in the United States and Canada. It will also expand its foreign presence through potential international sales and licensing, manufacturing and product development.

A syndicate led by Deerfield, has committed up to $350 million in growth capital for the combined company, especially to support the commercial launch of Yosprala and for future acquisitions. The proposed investment in Aralez includes $75 million of equity at a purchase price of $7.20 per ordinary share and $75 million in 2.5% Convertible Senior Secured Notes due six years.