Legacy Pharma to acquire U.S. rights to Merck, Odyssey products, files for Canadian IPO

By Jennifer Chiou

New York, Aug. 2 - Legacy Pharma LP said it will acquire the U.S. rights in Pepcid Oral Suspension from Merck & Co., Inc. and the U.S. rights for Antabuse, Vivactil and Surmontil from Odyssey Pharmaceuticals, Inc.

At the same time, Legacy Pharma Income Fund said it filed a preliminary prospectus for its proposed initial public offering of trust units in Canada.

CIBC World Markets Inc. and National Bank Financial Inc. will lead a syndicate of underwriters.

After completion of the offering and product acquisitions, Legacy will operate a pharmaceutical business engaged in the management and acquisition of "mature" pharmaceutical products as Legacy Pharma Inc.

The Burlington, Ont., fund said proceeds will be used to indirectly acquire and hold a majority interest in Legacy.

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