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Last Update: 25-Nov-11 09:40 ET
POZEN Announced That It Entered Into A Purchase And Sale Agreement With CPPIB Credit Investments
CII purchased POZEN's (POZN $3.50 +1.00) right to receive future royalty payments arising from U.S. sales of MT 400, including Treximet, Pozen's sumatriptan/naproxen sodium product which incorporates the company's MT 400 technology.
Under the Agreement, the company received a purchase price of $75 million and will receive a 20% interest in any Royalties received by CII relating to the period commencing on April 1, 2018. The Agreement also grants CII the right to receive certain reports relating to the Royalty Entitlement, and certain audit rights relating to the Royalty Entitlement. In connection with the Agreement, the Company granted CII a first priority security interest in the Purchased Assets.
