Key Developments For Eurand N.V.
Eurand N.V. (EURX.O) (Consolidated Issue listed on NASDAQ Global Market)
Eurand N.V. Announces Phase II/III Clinical Study Compares Safety And Efficacy of Two Doses of ZENPEP (Pancrelipase) Delayed
Eurand N.V. announced the data from a Phase II/III clinical study demonstrating that ZENPEP (pancrelipase) Delayed-Release Capsules significantly improves fat absorption in patients with exocrine pancreatic insufficiency (EPI) due to chronic pancreatitis. In a double-blind, randomized, dose-response control, crossover study conducted in 19 sites in the United States, Italy and Ukraine in 76 evaluable patients, two dosage regimens of ZENPEP were evaluated. Patients with overall mild-to-moderate EPI associated with chronic pancreatitis experienced significant improvement in fat and protein absorption and body weight with ZENPEP at both a lower dose of 35,000 lipase units/day (seven capsules of ZENPEP containing 5,000 units of lipase) and higher dose (140,000 lipase units/day (seven capsules of ZENPEP containing 20,000 units of lipase) taken with meals; e.g., two capsules per meal and one per snack. The mean CFA was 88.9% and 89.9% with the ZENPEP lower and higher dose, respectively (p < 0.001 compared to baseline). In a subgroup of patients with more severe EPI (n=33, mean baseline CFA 65.0%), the higher dose of 140,000 lipase units/day was more effective (mean CFA 84.1%) than the lower dose (mean CFA 81.1%). Both ZENPEP daily doses were safe and well tolerated. Gastrointestinal complaints, predominantly flatulence and abdominal pain, were the most common adverse events.
Eurand N.V. Completes Public Offering, Including Exercise Of Underwriters' Over Allotment Option
Eurand N.V. announced the closing of its previously reported offering of 9,775,000 ordinary shares at the public offering price of $11.25 per share. The shares offered include the 1,275,000 shares underlying the over-allotment option that the underwriters exercised. The total net proceeds from this offering were approximately $103.9 million, including approximately $82.7 million to the selling shareholders, Warburg, Pincus Equity Partners, L.P. (including two affiliated partnerships) and Warburg, Pincus Ventures International, L.P. Eurand intends to use the approximately $21.3 million in net proceeds from the sale of its 2,000,000 ordinary shares to fund potential product acquisitions and/or potential acquisitions of complementary businesses and research and development of additional product candidates, as well as to fund working capital and other general corporate purposes. The shares were offered through an underwriting syndicate led by Deutsche Bank Securities and BofA Merrill Lynch, together with co-managers Cowen and Company and Thomas Weisel Partners LLC.
Eurand N.V. Announces Pricing Of Offering Of Ordinary Shares
Eurand N.V. announced the pricing of its previously disclosed public offering of 8,500,000 ordinary shares at an initial price to the public of $11.25 per share. The shares are being offered through an underwriting syndicate led by Deutsche Bank Securities and BofA Merrill Lynch, together with co-managers Cowen and Company and Thomas Weisel Partners. The offering is expected to close on or about October 27, 2009. Of the 8,500,000 shares being offered, 2,000,000 are newly issued by Eurand N.V., and the remaining 6,500,000 are currently issued and outstanding. The Company intends to use the net proceeds from the sale of its 2,000,000 ordinary shares to fund potential product acquisitions and/or potential acquisitions of complementary businesses and research and development of additional product candidates, as well as to fund working capital and other general corporate purposes.
Eurand N.V. Announces Proposed Public Offering Of Ordinary Shares
Eurand N.V. announced the proposed sale of 8,500,000 ordinary shares in an underwritten public offering, subject to market and other conditions. Of the 8,500,000 shares being offered, 2,000,000 are to be issued by Eurand and the remaining 6,500,000 are to be sold by certain selling stockholders. The selling stockholders will grant the underwriters an option to purchase an additional 1,275,000 ordinary shares at the public offering price to cover over-allotments, if any. Deutsche Bank Securities and BofA Merrill Lynch are acting as joint book-running managers of the proposed offering.
Eurand N.V. Announces Filing of F-3 Registration Statement
Eurand N.V. announced that it filed a registration statement on Form F-3 for a proposed offering of 2,000,000 newly issued shares as part of an aggregate offering of 8,500,000 ordinary shares. The remaining 6,500,000 shares are issued and outstanding and are being offered by current shareholders.
