Cosmo announces placing of 4'250'000 Santarus shares in a secondary stock
offering in USA
Lainate, Italy - May 10, 2013 - Cosmo Pharmaceuticals, (SIX:COPN) today
announced that its subsidiary Cosmo Technologies Ltd, has placed 4'250'000 of
its 7'878'544 Santarus (NASDAQ:SNTS) shares in a secondary underwritten public
offering to investors in the USA at $ 18.25 per share. Cosmo Technologies
granted Jefferies LLC, the underwriter, an option for thirty days to purchase
up to 637'500 additional SNTS shares at the same price. 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. The shares were originally purchased at an
average price of EUR 1.77. Per year end 2012 each share was worth EUR 8.32.
After deduction of transaction fees & expenses a significant gain will be
reported on the transaction.
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(TM)/Cortiment(TM), 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:
Contact: Cosmo Pharmaceuticals S.p.A.
Dr. Chris Tanner, CFO and Head of Investor Relations
Tel: +39 02 9333 7614
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
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