Aralez Pharmaceuticals

About Aralez Pharmaceuticals

Aralez Pharmaceuticals Inc. was a specialty pharmaceutical company that emerged from the business combination of POZEN Inc. and Tribute Pharmaceuticals Canada Inc. The company's predecessor, POZEN Inc., was established in 1996 by Dr. John R. Plachetka, Dr. Peter J. Wise, and Joseph J. Ruvane, Jr. Dr. Plachetka, a Doctor of Pharmacy, conceived the company's core idea after a decade at Glaxo Inc., where he was involved in the development of major drugs like the migraine treatment Imitrex. He partnered with his former Glaxo colleague, Dr. Wise, to build a company focused on creating novel therapeutic agents by combining existing drugs, a strategy intended to have a higher success rate than new chemical entity development.

In February 2016, POZEN and Tribute Pharmaceuticals merged to form Aralez Pharmaceuticals, a Canadian-domiciled company with operations in Canada, Ireland, and the United States. Adrian Adams, who had taken the helm as CEO of POZEN in May 2015, became the CEO of the newly formed Aralez. The company focused on acquiring, developing, and commercializing products, primarily in the cardiovascular and pain management sectors. Its business model involved generating revenue through product sales and licensing agreements, which included upfront payments, milestone achievements, and royalties. The company's strategy was to build its portfolio organically and through acquisitions, supported by a significant capital commitment from a Deerfield-led syndicate.

Aralez's product portfolio included Yosprala, a fixed-dose combination of aspirin and omeprazole for patients at risk for aspirin-associated gastric ulcers who require aspirin for secondary prevention of cardiovascular and cerebrovascular events. Yosprala featured a proprietary Intelli-COAT system that sequentially delivered immediate-release omeprazole to raise gastric pH, followed by a delayed-release, enteric-coated aspirin. The company also acquired the U.S. and Canadian rights to Zontivity, a clot-fighting drug, from Merck, viewing it as a strategic fit with Yosprala. Other products included Treximet for migraines and Vimovo for arthritis-related pain. However, Aralez faced financial difficulties, and in August 2018, it initiated voluntary bankruptcy proceedings in both Canada and the U.S. Subsequently, the company sold its assets, with Nuvo Pharmaceuticals acquiring its Canadian business and rights to several key products, including Vimovo. The company is now known as Old API Wind-Down Ltd.