Dublin – May 12, 2017 – Cosmo Pharmaceuticals N.V. (SIX: COPN) today announced that it had filed for arbitration against Santarus Inc and Valeant Pharmaceuticals Ireland under the Rules of Arbitration of the International Chamber of Commerce alleging breach of contract including the obligations to use commercially reasonable efforts to promote Uceris and seeking termination of the corresponding license and supply agreements and transfer of the Uceris marketing authorization to Cosmo.
The case will be heard as from 4 October 2017 and an award is expected at the beginning of 2018. Cosmo believes it has substantial and well-grounded arguments to support its claims.
About Cosmo Pharmaceuticals
Cosmo is a specialty pharmaceutical company that aims to become a global leader in the field of optimized therapies for selected Gastrointestinal Disorders and Endoscopic Procedures. 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 has developed a medical device for polyp and adenoma excision and is has completed clinical trials of LuMeBlue™, a diagnostic drug for the detection of colon cancer as well as new chemical entities that are being developed by the associate company Cassiopea S.p.A. for the topical treatment of skin diseases. Cosmo’s MMX® products that have reached the market are Lialda®/Mezavant®/Mesavancol®, a treatment for IBD that is licensed globally to Giuliani and Shire Limited and Uceris®, the first glucocorticosteroid indicated for the induction of remission in active, mild to moderate Ulcerative Colitis, licensed in US to Santarus/Salix/Valeant and in the Rest of the World to Ferring as Cortiment®. 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 colon. For further information on Cosmo, please visit the Company’s website: www.cosmopharma.com
Next events
Annual General Meeting Amsterdam, May 24, 2017
Jefferies Global Health Care Conference New York, June 7-10, 2017
Half-Year Results July 28, 2017
Contact
Dr. Chris Tanner, Head of Investor Relations
Cosmo Pharmaceuticals N.V.
Tel: +353 (1) 8170 370
ctanner@cosmopharma.com
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