Billionaire Steven Cohen Reveals Two New Stock Picks, While Roberto Mignone Boosts Chimerix Inc. (CMRX) Stake

As stated by a separate 13G filing, Steven Cohen’s family office recently added a 1.69 million-share position in POZEN Inc. (NASDAQ:POZN) to its portfolio, which constitutes 5.2% of the company’s outstanding shares. On June 8, the specialty pharmaceutical company announced an agreement to acquire Canadian pharmaceutical company Tribute Pharmaceuticals Canada Inc. for approximately $146 million and move its domicile to Ireland so as to cut its tax bill. Later in December, the company confirmed the merger’s plans and announced that the soon-to-be combined company, which will be renamed Aralez Pharmaceuticals Inc., will move its domicile from Ireland to Canada. The Canadian domicile provides a similar corporate and tax structure to the one offered in Ireland, while the main reason for changing the “inversion” plans lies on the fact that the combined entity will benefit from Tribute’s business foundation and strong presence in Canada. The transaction is anticipated to close in the first quarter of this year.

In the meantime, POZEN’s stock is down by 13% over the past year. It should also be noted that a syndicate of healthcare investors, which include widely-known healthcare-focused hedge fund Deerfield Management, sealed an agreement to provide up to $350 million in growth capital for the soon-to-be combined company, which is aimed at supporting the company’s anticipated commercial launches of YOSPRALA and Fibricor, and facilitate future product and company acquisitions. A total of 18 smart money investors in our system had stakes in the company at the end of the third quarter, accumulating nearly 29% of its shares. Jane Mendillo’s Harvard Management Co acquired a 1.22 million-share stake in POZEN Inc. (NASDAQ:POZN) during the third quarter.

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