Healthcare Industry News:  Solvay Pharmaceuticals 

Biopharmaceuticals Personnel

 News Release - January 4, 2006

Solvay Pharmaceuticals, Inc. Names Laurence Downey, M.D. as New President and CEO

MARIETTA, Ga.--(HSMN NewsFeed)--Jan. 4, 2006--Solvay Pharmaceuticals, Inc. announced today the appointment of Laurence Downey, M.D. as President and CEO, effective Jan. 1, 2006. Downey succeeds Harold H. Shlevin, Ph.D., who has taken on a position of global responsibility within the Solvay Group.

Downey also will serve as a member of the corporation's board of directors and management committee, an officer of the corporation, CEO/chairman of the board of wholly-owned subsidiary Unimed Pharmaceuticals, Inc., and president of wholly-owned subsidiary Organics LLC. Downey is a member of the global pharmaceutical management committee for Solvay Pharmaceuticals, the Solvay Group's worldwide pharmaceutical businesses.

"Solvay Pharmaceuticals, Inc. plays a vital role in the strategic growth of the global Solvay Pharmaceuticals organization," said Werner Cautreels, CEO, Solvay Pharmaceuticals. "We believe Dr. Downey brings the strong leadership and expertise needed to achieve the company's aggressive business goals in the U.S."

A 25-year veteran of the company, Downey has served as president and CEO of Solvay Pharma Inc. in Canada since 1999. He joined Solvay Healthcare Ltd. in Southampton, United Kingdom, in 1979 as a Medical Advisor and in 1986, moved to Solvay Pharmaceuticals, Inc. in Marietta, Ga. where he initially served as Vice President, Medical Services. Downey subsequently held positions as Senior Vice President of Commercial Operations and interim President and CEO.

A native of the United Kingdom, Downey earned a medical degree from the University of Manchester and a diploma in pharmaceutical medicine from the Royal College of Physicians, where he is also a faculty fellow. He completed the Advanced Management Program from Harvard Business School in 1996.

Solvay Pharmaceuticals, Inc. ( of Marietta, Georgia (USA), is a research-driven pharmaceutical company that seeks to fulfill unmet medical needs in the therapeutic areas of cardiology, gastroenterology, mental health, women's health and a select group of specialized markets including men's health. It is a part of the global Solvay Pharmaceuticals organization whose core activities consist of discovering, developing and manufacturing medicines for human use. Solvay Pharmaceuticals is a subsidiary corporation of the worldwide Solvay Group of chemical and pharmaceutical companies headquartered in Brussels, Belgium.

Source: Solvay Pharmaceuticals

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