"You are certainly entitled to your opinions. I happen to believe that your are opinions are totally wrong. I was a director on Tribute's board at all relevant times working with Rob Harris CEO. Before the merger with Pozen was announced, Tribute shares for a long time were trading closer to $0.90 (and less). Tribute's revenues were almost entirely in Canadian dollars (and some Euros), but Tribute's debt (which was not insignificant) was in $US. When the merger was announced, the market loved the transaction and the shares in Tribute doubled in the following months. The feedback Tribute received from the market, investors and analysts was almost entirely positive, if not gushingly positive. The Tribute AGM held in the summer of 2015 (following the merger announcement) was virtually a love fest because Tribute's shareholders had seen multi-fold increases in their returns. Rob Harris and my co-directors were an incredibly intelligent, experienced and professional group of individuals. The "smart" money including QLT, Deerfield and other institutional investors committed to $350MM in new capital to Aralez which is an extraordinary amount for a small company, and reflected the confidence they had in the transaction and Adrian Adam (and his team). You have forgotten that from the time we announced the transaction and closed it on Feb 5, 2016, as a result of the "Valeant effect" and Hillary Clinton's tweets etc, the share price of most specialty pharmaceutical companies with significant US exposure had declined by 50% to 75%. In the meantime, in Canada Bezalip SR now faced a generic. Both at the time of the merger and in hindsight, the merger transaction was a GREAT deal for Tribute shareholders. I shudder to think what Tribute's share price would be today if it had to refinance its US$ debt (with a weaker Cdn dollar sales) in a much less favourable environment for specialty pharma.
I stand by everything I said in my article. Those who understand what Tribute's management acccomplished are thanking Rob Harris and his team. I can tell you that if Rob Harris ever decides to start a new pharma company, I'd be one of his first investors."