OAKVILLE, ON, Sept. 6, 2017 /PRNewswire/ - Concordia
International Corp. ("Concordia" or the "Company") (NASDAQ: CXRX)
(TSX: CXR), an international specialty pharmaceutical company
focused on generic and legacy pharmaceutical products, today
announced the details of DELIVER, its long-term growth
strategy.
"At its essence, the DELIVER strategy will focus
Concordia's efforts on becoming a leading European specialty
`off-patent' medicines player," said Concordia Chief Executive
Officer Allan Oberman. "The
development of this strategy was a multi-month initiative that was
done internally, reflecting contributions from more than 50
Concordia employees including our senior management team, and our
board of directors. It is the culmination of a holistic team effort
that we are very excited about."
Senior management and Concordia's board of directors believe the
name DELIVER is appropriate for this strategy because it is
precisely what the Company intends to do, and it is an acronym
that, letter by letter, defines the critical elements of the
strategy.
DELIVER stands for:
- Drive growth in the UK
- Expand into key European markets
- Level set the U.S. business
- Increase the product pipeline
- Vary Concordia's approach to non-core markets
- Extend the Company's lean operating model and
further build its talent
- Realign the Company's capital structure
Concordia senior management will host a conference call today at
8:30 am ET to share additional
details about the DELIVER strategy.
CONFERENCE CALL
DETAILS
|
|
DATE:
|
Wednesday, September
6, 2017
|
TIME:
|
8:30 a.m.
ET
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DIAL-IN
NUMBER:
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(647) 427-7450 or
(888) 231-8191
|
TAPED
REPLAY:
|
(416) 849-0833 or
(855) 859-2056
|
REFERENCE
NUMBER:
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79358430
|
This call is being webcast and can be accessed by going to:
https://event.on24.com/wcc/r/1500098/5DFAB87A58A9856B02D598C4B69B3F09
An archived replay of the webcast will be available by clicking
the link above.
The Company has prepared a presentation to coincide with
management's remarks. The presentation will be embedded in the
webcast. Participants joining by conference call can access the
presentation through the Investors section of Concordia's website
under `Downloads' at the bottom left of the page.
About Concordia
Concordia is a diverse, international
specialty pharmaceutical company focused on generic and legacy
pharmaceutical products. Concordia has an international footprint
with sales in more than 90 countries, and has a diversified
portfolio of more than 200 established, off-patent products.
Concordia also markets Photofrin® for the treatment of
certain rare forms of cancer.
The Company operates out of facilities in Oakville, Ontario and, through its
subsidiaries, operates out of facilities in Bridgetown, Barbados; London, England and Mumbai, India.
Notice regarding forward-looking statements and
information:
This news release includes forward-looking
statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and forward-looking
information within the meaning of Canadian securities laws,
regarding Concordia and its business, which may include, but are
not limited to, statements with respect to Concordia's DELIVER
strategy and the Company's implementation of such strategy.
The forward‐looking events and circumstances discussed in
this news release may not occur by certain dates or at all and
could differ materially as a result of known and unknown risk
factors and uncertainties affecting Concordia, including risks
associated Concordia's inability to implement its DELIVER strategy
(including, without limitation, realigning its capital structure),
Concordia's securities, increased indebtedness and leverage,
Concordia's growth, risks associated with the use of Concordia's
products, the inability to generate cash flows, revenues and/or
stable margins, the inability to repay debt and/or satisfy future
obligations, risks associated with Concordia's outstanding debt,
risks associated with the geographic markets in which Concordia
operates and/or distributes its products, risks associated with
distribution agreements, the pharmaceutical industry and the
regulation thereof, regulatory investigations, the failure to
comply with applicable laws, economic factors, market conditions,
risks associated with growth and competition, the failure to obtain
regulatory approvals, the equity and debt markets generally,
general economic and stock market conditions, risks associated with
fluctuations in exchange rates (including, without limitation,
fluctuations in currencies), political risks (including changes to
political conditions), risks associated with the United Kingdom's exit from the European Union
(including, without limitation, risks associated with regulatory
changes in the pharmaceutical industry, changes in cross‐border
tariff and cost structures and the loss of access to the European
Union global trade markets), risks related to patent infringement
actions, the loss of intellectual property rights, risks and
uncertainties detailed from time to time in Concordia's filings
with the Securities and Exchange Commission and the Canadian
Securities Administrators, and many other factors beyond the
control of Concordia. Although Concordia has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward‐looking statements and information, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward‐looking statement or
information can be guaranteed. Except as required by applicable
securities laws, forward‐looking statements and information speak
only as of the date on which they are made and Concordia undertakes
no obligation to publicly update or revise any forward‐looking
statement or information, whether as a result of new information,
future events, or otherwise.
SOURCE Concordia International Corp.