POZEN expands geographic footprint and foreign presence
Company forms Irish subsidiary and enters into an intangible property transfer arrangement
POZEN Inc., a pharmaceutical company committed to developing medicines that transform lives, has formed POZEN Limited, a wholly owned Irish subsidiary and has entered into an intangible property transfer arrangement between POZEN Inc. and POZEN Limited.
The company has been evaluating its strategic options since recovering the US commercial rights for YOSPRALA in November 2014 and recently announced the hiring of Adrian Adams as Chief Executive Officer and Andrew Koven as President and Chief Business Officer to lead the strategic effort.
In anticipation of the approval and commercialisation of YOSPRALA, the potential for significant global business and commercial activities and the expected financial benefits arising therefrom, the company is developing a plan to expand its geographic footprint and increase its foreign presence, including potential international sales, manufacturing and product development.
‘We are planning to build a speciality pharmaceutical business at POZEN, by maximising the value of YOSPRALA as a core asset upon its approval and by strategically growing the business through product and corporate development activities aimed to position POZEN for its next stage of growth,’ said Adrian Adams, Chief Executive Officer, POZEN Inc.
‘Our initial therapeutic focus will be in the cardiovascular space with a consideration for other product opportunities to broaden our overall portfolio and increase POZEN’s geographic footprint,’ he added.
