PRINCETON, N.J., July 16, 2013 /PRNewswire/ -- The stockholders of
Omthera Pharmaceuticals, Inc. (NASDAQ: OMTH) (the "Company") voted
today at a special meeting of stockholders to adopt the previously
announced merger agreement providing for the acquisition of the
Company by an affiliate of AstraZeneca PLC. The votes cast by
the Company's stockholders in favor of the proposal to adopt the
merger agreement represented approximately 88.3 percent of the
Company's issued and outstanding common stock entitled to vote as
of June 13, 2013, the record date for
the special meeting.
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The receipt of the approval of the Company's stockholders of the
proposal to adopt the merger agreement satisfies one of the
conditions to consummation of the proposed merger. The
consummation of the merger remains subject to certain other closing
conditions set forth in the merger agreement.
About Omthera Pharmaceuticals, Inc.
Omthera Pharmaceuticals, Inc. is an emerging specialty
pharmaceutical company focused on the development and
commercialization of new therapies for dyslipidemia and the
treatment of cardiovascular disease. Epanova™, currently the
Company's sole product candidate, is a late-stage, novel, omega-3
free fatty acid composition that meaningfully reduces
triglycerides, improves other key lipid parameters and is expected
to increase patient convenience with 2-gram once-a-day dosing with
or without meals. Epanova™ is a coated soft gelatin capsule
containing a complex mixture of polyunsaturated free fatty acids
derived from fish oils, including multiple long-chain omega-3 and
omega-6 fatty acids, with EPA, DHA, and docosapentaenoic acid being
the most abundant forms of omega-3 fatty acids. The Company has
completed pharmacokinetic and Phase III clinical studies to
investigate the safety and efficacy profile of Epanova™. In 2012
the Company reported positive results from its Phase III EVOLVE and
ESPRIT trials, both of which were conducted under SPA agreements
with the U.S. Food and Drug Administration. Omthera holds worldwide
rights to Epanova™ under a license from Chrysalis Pharma AG, a
privately held Swiss company that is the owner of the product. For
more information, please visit http://www.omthera.com.
Safe Harbor for Forward-Looking Statements
This press release, in particular statements regarding the
proposed transaction between an affiliate of AstraZeneca PLC and
the Company, the expected timetable for completing the transaction,
future financial and operating results, benefits and synergies of
the transaction, future opportunities for the combined company and
any other statements about AstraZeneca PLC or Company managements'
future expectations, beliefs, goals, plans or prospects, includes
forward-looking statements that are based on certain beliefs and
assumptions and reflect the current expectations of the Company,
AstraZeneca PLC and their respective management. Statements that
are predictive in nature, that depend on or relate to future events
or conditions, or that include words such as "believes,"
"anticipates," "expects," "continues," "predict," "potential,"
"contemplates," "may," "will," "likely," "could," "should,"
"estimates," "intends," "plans" and other similar expressions are
forward-looking statements. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. Forward-looking statements involve known and unknown
risks, assumptions and uncertainties that may cause actual results
in future periods to differ materially from those projected or
contemplated in the forward-looking statements, and you should not
place undue reliance on these statements. Some of the factors that
could cause actual results to differ materially from current
expectations are: the ability to consummate the proposed
transaction; any conditions imposed on the parties in connection
with the consummation of the proposed transaction; the ability to
obtain regulatory approvals of the proposed transaction; the
occurrence of any event, change or other circumstances that could
give rise to the termination of the agreement relating to the
proposed transaction; the Company's ability to maintain
relationships with employees and third parties following
announcement of the proposed transaction; the ability of the
parties to satisfy the conditions to the closing of the proposed
transaction; the risk that the proposed transaction may not be
completed in the time frame expected by the parties or at all; and
the risks that are described from time to time in the Company's
reports filed with the SEC, including the Prospectus, in other of
the Company's filings with the SEC from time to time, including
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and
on general industry and economic conditions. If the proposed
transaction is consummated, our stockholders will cease to have any
equity interest in the Company and will have no right to
participate in its earnings and future growth. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
NY: 800258-3
Omthera Contact:
Christian Schade
Executive Vice President & Chief Financial Officer
Omthera Pharmaceuticals, Inc.
T: 908-741-4399
E: info@Omthera.com
SOURCE Omthera Pharmaceuticals, Inc.