Cosmo announces placing of Santarus shares successfully completed: Jefferies exercised entire over allotment option Montag, 13. Mai 2013 - 07:05
Cosmo announces placing of Santarus shares successfully completed: Jefferies exercised entire over allotment option
Lainate, Italy – May 13, 2013 – Cosmo Pharmaceuticals, (SIX:COPN) today announced that the underwriter Jefferies LLC exercised its option to purchase an additional 637’500 Santarus (SNTS:NASDAQ) shares at $ 18.25 from its subsidiary Cosmo Technologies Ltd. Thus the entire number of Santarus shares sold by Cosmo increased to 4’887’500 Santarus shares. Santarus did not sell any shares and will not receive any proceeds from the offering. The transaction is expected to close on May 15, subject to satisfaction of customary closing conditions. After the transaction Cosmo continues holding 2’991’044 Santarus shares or 4.63% of outstanding shares.
About Cosmo Pharmaceuticals
Cosmo is a speciality pharmaceutical company that aims to become a global leader in the field of optimized therapies for selected Gastrointestinal and topically treated Skin Disorders. The company’s proprietary clinical development pipeline specifically addresses innovative treatments for IBD, such as Ulcerative Colitis and Crohn’s Disease, and Colon Infections. In addition, the Company is developing a diagnostic for the detection of colon cancer and a new chemical entity for the topical treatment of Acne, Alopecia and Hirsutism. Cosmo’s first product in the market is Lialda®/Mezavant®/Mesavancol®, a treatment for mild to moderate Ulcerative Colitis that is licensed globally to Giuliani and Shire Limited. Cosmo’s second product is Uceris™/Cortiment™, a steroid with low side effects that is indicated for Ulcerative Colitis patients that do not get relief when treated with 5-ASA’s and is licensed globally to Santarus and Ferring. Cosmo’s proprietary MMX® technology is at the core of the Company’s product pipeline and was developed from its expertise in formulating and manufacturing gastrointestinal drugs for international clients at its GMP (Good Manufacturing Practice) facilities in Lainate, Italy. The technology is designed to deliver active ingredients in a targeted manner in the intestines. For further information on Cosmo, please visit the Company’s website: www.cosmopharma.com
Contact: Cosmo Pharmaceuticals S.p.A.
Dr. Chris Tanner, CFO and Head of Investor Relations Tel: +39 02 9333 7614 ctanner@cosmopharma.com
Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Cosmo undertakes no obligation to publicly update or revise any forward-looking statements.