Healthcare Industry News: Omacor
News Release - July 27, 2007
Reliant Pharmaceuticals Names Fred Craves, Ph.D. as Chairman of the Board of Directors
LIBERTY CORNER, N.J., July 27 (HSMN NewsFeed) -- Reliant Pharmaceuticals, Inc. today announced that Fred Craves, Ph.D. has been appointed Chairman of the Board of Directors effective immediately. Dr. Craves succeeds Ernest Mario, Ph.D. who has served as Chairman since 2003.Dr. Craves has served as Vice Chairman of Reliant's Board of Directors since the company's inception. He is the founder and Managing Director of Bay City Capital, which was a co-founder of Reliant in 1999. Dr. Craves has spent over 30 years leading and managing biotechnology and pharmaceutical companies.
"Fred has played an important role in the growth and development of Reliant since its founding," said Bradley T. Sheares, Ph.D., Chief Executive Officer of Reliant Pharmaceuticals. "We look forward to the continued benefit of his guidance and expertise as we endeavor to realize the full potential of Reliant's lead product, Omacor® (omega-3 acid ethyl esters), and move the company forward."
Dr. Ernest Mario, who served as Reliant's Chairman since 2003 and who was formerly the company's Chief Executive Officer, has stepped down from the Board. "Ernie's leadership and commitment were instrumental in positioning Reliant as the outstanding company it is today," said Fred Craves, Ph.D. "On behalf of the Board of Directors, I thank him."
Reliant Pharmaceuticals extends its appreciation to Dr. Mario for his many contributions during his tenure with the company.
About Reliant Pharmaceuticals, Inc.
Reliant Pharmaceuticals is a pharmaceutical company with integrated sales, marketing and development expertise that markets a portfolio of prescription therapeutic products. Reliant focuses on marketing promotionally sensitive pharmaceutical products to targeted high prescribing primary care, cardiovascular and specialist physicians, as well as selected hospitals and academic centers in the United States. Reliant also acquires rights to and develops product candidates in mid- to late-stage clinical development. Reliant's sales force infrastructure is comprised of approximately 875 sales and marketing professionals nationwide.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995. To the extent any statements made in this release contain information that is not historical, these statements are essentially forward looking and are subject to risks and uncertainties, including our ability to realize the full value of our lead product Omacor®, the difficulty of predicting FDA approvals, acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks.
Source: Reliant Pharmaceuticals
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