Procopio Represents Italian Pharma Company in Merger
San Diego, CA – Procopio has advised Italian gastrointestinal drug maker company, Cosmo Pharmaceuticals S.p.A, in its business combination with US drug maker Salix Pharmaceuticals Ltd. Under the terms of a Merger Agreement between the parties, Salix will become a wholly-owned subsidiary of Cosmo Technologies, currently a wholly owned subsidiary of Cosmo Pharmaceuticals.
As part of the merger, Cosmo Technologies will change its name to Salix Pharmaceuticals, plc and is expected to have its shares listed on the NASDAQ Global Select Market but will remain domiciled in Ireland. The former Salix shareholders will receive slightly less than 80% of the outstanding shares listed on NASDAQ, while Cosmo Pharmaceuticals will retain slightly more than 20% of the outstanding shares.
“We’re very delighted to have advised on this transaction,” said Dennis Doucette, partner and chair of the firm’s corporate and securities practice who led the Procopio team in this transaction. “Our team worked very hard to execute this deal in a limited timeframe and we’re pleased we could act as an extension of Cosmo in order to do so.” Dennis Doucette’s team included partners Jason Femrite and Blake Allen (corporate and securities), Eli Mansour (intellectual property), Patrick Martin and Jon Schimmer (tax), along with attorneys Jessica Swift, Aaron Sokoloff and Trent Andrews (corporate and securities) and Eric Swenson (tax).
Procopio’s cross disciplinary team handles all aspects of transactions of this nature, providing the highest level of representation and service for its clients.
About Procopio, Cory, Hargreaves & Savitch LLP
With more than 140 attorneys in San Diego, Del Mar, Silicon Valley, Austin and Phoenix, Procopio, Cory, Hargreaves & Savitch LLP is one of the largest business law firms in Southern California. We are a regional law firm with an international network that gives us the ability to serve clients’ interests throughout the world. Procopio is dedicated to understanding the businesses and industries of clients and collaborating with them to develop tailored strategies. We advise companies at every stage in the corporate life cycle, helping them to plan, finance and operate their businesses. Our success has been derived from our commitment to clients and our ability to maximize the value we provide to them. Our goal is to continue building long-term relationships with clients through a steady, team-oriented approach. For additional information, please visitwww.procopio.com.