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|Special Committee of Cipher Pharmaceuticals Responds to Early Warning Report Filed by 1207407 Ontario Limited|
Cipher welcomes the opinions of its shareholders and actively seeks opportunities to enhance shareholder value. The Board takes its fiduciary responsibilities seriously. The Special Committee is disappointed that Dr. Mull has chosen to use a public forum to claim ownership of a series of initiatives, many of which were already under active ongoing discussion by the members of the Board, including Dr. Mull. The directors of Cipher share many of the concerns enumerated in the EWR, and have proactively sought to address those concerns, including through the formation of the Special Committee.
The Special Committee and the Board will continue to meet to consider further steps to advance the evaluation of initiatives.
Through multiple transactions, including the acquisition of Innocutis and its nine branded dermatology products, Cipher has built its U.S. commercial presence, expanded its Canadian dermatology franchise and broadened its pipeline. Cipher is well-capitalized to drive long-term, sustained earnings growth by leveraging its proven clinical development capabilities and efficient commercial execution. For more information, visit www.cipherpharma.com.
Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", "hope" and "continue" (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Company's Annual Information Form, Form 40‑F and other filings with Canadian and U.S. securities regulatory authorities. These factors include, but are not limited to, our ability to enter into in-licensing, development, manufacturing and marketing and distribution agreements with other pharmaceutical companies and keep such agreements in effect; our dependency on a limited number of products; integration difficulties and other risks if we acquire or in-license technologies or product candidates; reliance on third parties for the marketing of certain products; the product approval process is highly unpredictable; the timing of completion of clinical trials; reliance on third parties to manufacture our products; we may be subject to product liability claims; unexpected product safety or efficacy concerns may arise; we generate license revenue from a limited number of distribution and supply agreements; the pharmaceutical industry is highly competitive; requirements for additional capital to fund future operations; dependence on key managerial personnel and external collaborators; no assurance that we will receive regulatory approvals in the U.S.,
Investors: In Canada: Craig Armitage, LodeRock Advisors, (416) 347‑8954, firstname.lastname@example.org; In the United States: Thomas Hoffmann, The Trout Group LLC, (646) 378‑2931, email@example.com; Media: Mike Beyer, Sam Brown Inc., (312) 961‑2502, firstname.lastname@example.org