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July 08, 2014
Cadwalader is pleased to be advising Salix Pharmaceuticals, Ltd. in its announced combination with Cosmo Technologies Limited, a subsidiary of Cosmo Pharmaceuticals S.p.A., pursuant to which Salix will become a wholly-owned subsidiary of Irish incorporated Cosmo Technologies, which will change its name to Salix Pharmaceuticals, plc.
Under the terms of the agreement, Salix Pharmaceuticals, plc will own Cosmo’s U.S. patents for rifamycin MMX®, methylene blue MMX® and Uceris®, and have specified rights of negotiation with respect to all products Cosmo or its affiliates seek to develop or commercialize in the U.S. In addition, Salix Pharmaceuticals, plc will acquire Cosmo’s patents for rifamycin MMX in Canada, specified Latin American countries, India, China, Japan and the rest of the Far East, excluding Australia and New Zealand, and Cosmo’s patents for Uceris in Japan.
The Cadwalader team is led by partners Christopher Cox (Corporate), Geoffrey Levin (Corporate), Ira Schacter (Corporate), Linda Swartz (Tax) and James Woolery (Corporate) and special counsel Aly El Hamamsy (Corporate) in New York, and partner Adam Blakemore (Tax) and special counsel Paul Dunbar (Corporate) in London.