DALLAS and FORT WORTH, Texas, Feb. 20, 2018 /PRNewswire/ -- Neos Therapeutics, Inc. (NEOS), a pharmaceutical company focused on developing, manufacturing and commercializing innovative extended-release (XR) products using its proprietary modified-release drug delivery and orally disintegrating tablet (ODT) technologies, issued the following statement in response to the announcement from PDL BioPharma, Inc. (PDLI) that it is terminating its interest in the Company:
"The Neos Board of Directors and management team are confident in the Company's strategic plan and believe that Neos is well positioned for significant value creation in both the near and long-term. We are successfully executing our strategy, as demonstrated by the continued strong adoption of Adzenys XR-ODT®, the successful launch of Cotempla XR-ODT™ earlier this year and the imminent commercial launch of Adzenys ER™. We are equally excited about the future opportunities afforded by our proprietary extended-release drug delivery technology platform. We are committed to serving the best interest of all Neos shareholders and remain open to considering all options to deliver on the Board and management's value creation objectives."
About Neos Therapeutics
Neos Therapeutics, Inc. (NEOS) is a pharmaceutical company focused on developing, manufacturing and commercializing products utilizing its proprietary modified-release drug delivery technology platforms. Adzenys XR-ODT® (amphetamine) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING), Cotempla XR-ODT™ (methylphenidate) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING), and Adzenys-ER™ (amphetamine) extended-release oral suspension (see Full Prescribing Information, including Boxed WARNING), all for the treatment of ADHD, are the first three approved products using the Company's extended-release technology platform. In addition, Neos manufactures and markets its generic version of the branded product Tussionex®1, an extended-release oral suspension of hydrocodone and chlorpheniramine for the relief of cough and upper respiratory symptoms of a cold (see Full Prescribing Information, including Boxed WARNING). Additional information about Neos is available at www.neostx.com.
1Tussionex® is a registered trademark of the UCB Group of Companies.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements reflect our current views about our expectations, strategy, plans, near and long-term value creation opportunities, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, our ability to market and sell our product candidates and other risks set forth under the caption "Risk Factors" in our most recently filed Annual Report on Form 10-K as updated by our subsequently filed other SEC filings, including our Quarterly Report(s) on Form 10-Q. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
Barrett Golden and Andrew Squire
Joele Frank, Wilkinson Brimmer Katcher
Chief Financial Officer