Healthcare Industry News: Bristol-Myers Squibb
News Release - March 27, 2008
Discovery Labs Adds Two Executives to Its Management TeamWARRINGTON, Pa., March 27, 2008 (Healthcare Sales & Marketing Network) -- Discovery Laboratories, Inc. (NasdaqGM:DSCO ) announces the addition of two executives to its senior management team; John P. Wilson, Vice President of Sales and Marketing, and John Tattory, Vice President of Finance.
Mr. Wilson is responsible for the development and management of the Company's U.S. Sales and Marketing organization, reporting directly to Dr. Tom Miller, Senior Vice President of Commercial and Corporate Development. John brings more than 20 years of pharmaceutical commercial experience, with specific expertise in the management of hospital-based sales organizations and the launch of products in the hospital channel. Prior to joining Discovery Labs, Mr. Wilson held commercial management positions at Johnson & Johnson, Inc., including: Director, Pharmaceuticals Group Strategic Marketing, where he developed the global launch strategy for a reproductive health product; Group Product Director, Ortho McNeil Pharmaceuticals, in the pain franchise group; Field Sales Director, Ortho McNeil Pharmaceutical, where he led a 500-member sales force; and Hospital Therapeutic Sales Specialist, Centocor. Mr. Wilson, 46, holds a Bachelor of Arts degree in Economics from Rutgers University.
Mr. Tattory is responsible for the development and management of financial, accounting and business systems necessary to manage a commercial pharmaceutical company, reporting directly to John G. Cooper, Executive Vice President and Chief Financial Officer. Mr. Tattory brings significant financial capabilities to Discovery Labs, including eight years at Bristol-Myers Squibb Company (his most recent position as Finance Director -- U.S. Pharmaceuticals Cardiovascular / Metabolic Business Unit) where he was responsible for financial planning and analysis, product forecasting and pricing, sales' operations, cost accounting, budgeting, and financial management for strategic alliances. Prior to joining Discovery Labs, John served as Director, Financial Planning and Analysis for a $7 billion operating division of Tyco International Ltd. John's earlier career included seven years with Ernst & Young LLP. Mr. Tattory, 42, holds a Bachelor of Science degree in Accounting from Rider College and is a Certified Public Accountant.
Robert J. Capetola, Ph.D., President and Chief Executive Officer of Discovery Labs, commented, ``We are building a pediatric critical care franchise based on our portfolio of Surfactant Replacement Therapies. The cornerstone of this franchise is Surfaxin(r) for the treatment of Respiratory Distress Syndrome in premature babies, for which the FDA has established a May 1, 2008 PDUFA date. We plan to implement a business strategy that includes building our own commercial operations for the U.S. market and partnering internationally. We are pleased to have added the talent and very relevant experiences of Mr. Wilson and Mr. Tattory to our management team.''
About Discovery Labs
Discovery Laboratories, Inc. is a biotechnology company developing Surfactant Replacement Therapies (SRT) for respiratory diseases. Surfactants are produced naturally in the lungs and are essential for breathing. Discovery Labs' technology produces a precision-engineered surfactant that is designed to closely mimic the essential properties of natural human lung surfactant.
Discovery Labs' lead product candidate, Surfaxin(r), is the subject of an Approvable Letter from the FDA for the prevention of Respiratory Distress Syndrome in premature infants and has a PDFUA date of May 1, 2008. Surfaxin is also being developed for other neonatal and pediatric indications. Aerosurf(tm), Discovery Labs' aerosolized SRT, is being developed to potentially obviate the need for intubation and conventional mechanical ventilation and holds the promise to significantly expand the use of surfactants in respiratory medicine. For more information, please visit our website at http://www.Discoverylabs.com.
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made, including, without limitation, the risks that: Discovery Labs may be unable to profitably develop and market its products; Discovery Labs may not be able to raise additional capital or enter into additional collaboration agreements (including strategic alliances for development or commercialization of SRT); changes in the national or international political and regulatory environment may make it more difficult to gain FDA or other regulatory approval of drug products; Discovery Labs' significant, time-consuming and costly research and development activities, including pre-clinical studies, clinical trials and other efforts to gain regulatory approval for any products may not progress or may be subject to potentially significant delays or regulatory holds, or fail; Discovery Labs may not succeed in the FDA or other regulatory agency review process, including that such regulatory authority may not approve the marketing and sale of a drug product or may withhold, delay and/or limit marketing of a drug product by indication or impose other label limitations; Discovery Labs' recently-submitted Complete Response to the Approvable Letter may not satisfy the FDA; Discovery Labs may be unable to successfully transfer its manufacturing technology to third-party contract manufacturers or its contract manufacturers or any of its materials suppliers may encounter problems manufacturing drug products or drug substances on a timely basis or manufacture in amounts sufficient to meet demand; Discovery Labs and its collaborators may be unable to develop, manufacture and successfully commercialize products that combine Discovery Labs' drug products with innovative aerosolization technologies; Discovery Labs may be unable to develop a successful sales and marketing organization in a timely manner and its marketing and advertising consultants may not succeed in developing market awareness of its products; upon approval of a product candidate, Discovery Labs may not adequately forecast customer demand; Discovery Labs or its development partners, collaborators or marketing partners may not be able to attract or maintain qualified personnel; Discovery Labs may be unable to maintain and protect the patents and licenses related to its SRT; other companies may develop competing therapies and/or technologies or health care reform may adversely affect Discovery Labs; and Discovery Labs may become involved in securities, product liability and other litigation. The foregoing risks and others are further described in Discovery Labs filings with the Securities and Exchange Commission including the most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto.
Source: Discovery Laboratories
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