Cosmo announces amendment of licensing agreement with Santarus in the event merger of Santarus with Salix is consummated Lainate, Italy - November 8, 2013 - Cosmo Pharmaceuticals, (SIX:COPN), announces today that in connection with the announced merger agreement of November 7, 2013 between Salix Pharmaceuticals, Ltd. and Santarus, Inc., Salix and Santarus entered into an agreement with Cosmo restructuring certain aspects of Santarus' relationship with Cosmo existing under the license agreement of December 10, 2008. Under the terms of the agreement, and only upon closing of Salix's acquisition of Santarus, which is expected to take place in the first quarter of 2014: Santarus shall return to Cosmo all rights to Rifamycin SV MMX® acquired by Santarus under the license agreement and all regulatory approvals, filings and study data relating to the product. All further Uceris® milestones shall be paid in cash. Cosmo holds 2'991'044 SNTS shares. Salix intends to launch a tender offer to all shareholders of Santarus for USD 32 per share. Mauro Ajani, Chairman and CEO of Cosmo commented: "We trust that the excellent relationship we built up with Santarus will continue under Salix and are convinced that this transaction further enhances the market potential of Uceris®. We congratulate both parties for this important deal". For more information on the proposed merger of Santarus and Salix see www.santarus.com. 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 colonic inflammatory and infective diseases. In addition, the Company is developing a diagnostic for the detection of colon cancer and a new chemical entity in the dermatogical area 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. Cosmo's second product is Uceris®/Cortiment(TM), a steroid without the typical side effects of systemic steroids, that is indicated for Ulcerative Colitis patients 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 lower part of 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 firstname.lastname@example.org 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. Press Release (PDF) Provider Channel Contact Tensid Ltd., Switzerland newsbox.ch Provider/Channel related enquiries www.tensid.ch www.newsbox.ch email@example.com +41 41 763 00 50
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Cosmo announces amendment of licensing agreement with Santarus i
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