Pozen shares rose 6.6 percent Tuesday after the Chapel Hill company announced that it has created an Irish subsidiary, Pozen Limited, to help boost its international presence.
The move comes just a day after the company’s founder and CEO, John Plachetka, retired and was replaced by Adrian Adams, a veteran pharmaceutical executive.
Pozen said the new subsidiary would allow it to take advantage of the global sales potential of Yosprala, a cardiovascular drug that Pozen acquired the U.S. commercial rights to in November.
In a statement, Adams said Pozen is seeking to build a specialty pharmaceutical business with Yosprala as its core asset.
Yosprala, which is an alternative to aspirin for treating heart disease and stroke patients, has not been approved by the U.S. Food and Drug Administration.
Pozen shares closed Tuesday at $7.30, up 45 cents. The stock rose 6 percent Monday after the company announced that Plachetka was retiring, effective immediately.