Pozen has amended its merger agreement with Tribute Pharmaceuticals Canada and will now locate the combined company in Canada, not Ireland.
Chapel Hill-based Pozen and Tribute announced last month that they were reconsidering reincorporating in Ireland after the U.S. Treasury Department issued new guidelines designed to make it more difficult for companies to perform so-called corporate tax inversions.
An inversion is when a company acquires a company based in a country with lower tax rates in order to reduce their tax burden.
The two companies will refile plans for the deal with regulators and now expect the transaction to close in the first quarter of next year.
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The combined company is to be named Aralez Pharmaceuticals.
Pozen and Tribute also reported Monday that Deerfield, a syndicate of health care investors, has confirmed its commitment to invest up to $350 million in Aralez.
That money is to be used to support the launch of Pozen’s drug Yosprala, an alternative to aspirin for treating heart disease and stroke patients, and to help finance future acquisitions.