Approach to solve text sequencing task

You are given some text that looks like this:

"its ef fic ac y : if n o e x te r n al e v idence is r e qui red , but"

You are asked to sequence it together such that the output is like this:

"its efficacy: if no external evidence is required, but"

You are provided with a dictionary to your subroutine. What's the most eifficient way to solve this?

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