Healthcare Industry News: Novartis Pharma AG
News Release - January 23, 2006
Idenix Pharmaceuticals, Inc. Announces Appointment of Susan Koppy as Senior Vice President, Business and Corporate DevelopmentCAMBRIDGE, Mass., Jan. 23 (HSMN NewsFeed) -- Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX ) today announced the appointment of Susan Koppy to the position of Senior Vice President, Business and Corporate Development. Ms. Koppy has more than 20 years of experience in marketing and business development in the pharmaceutical industry. She has participated in the negotiation of more than 10 major agreements with a multi-billion dollar aggregate commercial value. At Idenix, Ms. Koppy will be responsible for directing the company's strategic development, including licensing agreements, joint ventures, strategic alliances and acquisitions. Ms. Koppy was appointed subsequent to the resignation of James Egan who left the company to pursue other interests.
"We are pleased to welcome Susan Koppy to the Idenix senior management team. Susan's extensive experience and knowledge, focused on the licensing and acquisition of technology and products, and her expertise in building and fostering key relationships within the industry, will contribute significantly to ensuring that Idenix maintains a robust product candidate pipeline," said Jean-Pierre Sommadossi, Ph.D., chairman and chief executive officer of Idenix. "We thank Jamie Egan for his contributions to Idenix, which have been instrumental in assessing and securing key strategic collaborations for the company."
Prior to joining Idenix, Ms. Koppy served as the Vice President of Strategy and Business Development at Applied Biosystems, Inc., with responsibility for evaluation and pursuit of licensing and acquisition opportunities. At ABI, Ms. Koppy also created a company-wide strategic planning and business development process. Before joining ABI, Ms. Koppy served as the Director of Business Development for Novartis Pharmaceuticals Corporation where she was responsible for global business development opportunities in Infectious Diseases and was a key contributor to the formation of the strategic alliance between Idenix and Novartis. Prior to her work with the Novartis infectious disease franchise, Ms. Koppy served as the Head of Commercial and Business Intelligence for Novartis Pharma AG where she established and directed a commercial and business intelligence group for pharmaceutical marketing. She holds a bachelor's degree in genetics and cell biology from the University of Minnesota as well as an undergraduate certificate in science and engineering.
Idenix Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral and other infectious diseases. Idenix's current focus is on the treatment of infections caused by hepatitis B virus, hepatitis C virus and human immunodeficiency virus (HIV). Idenix's headquarters are located in Cambridge, Massachusetts and it has drug discovery and development operations in Montpellier, France and drug discovery operations in Cagliari, Italy. For further information about Idenix, please refer to http://www.idenix.com.
This press release contains "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of forward-looking terminology or by express or implied discussions regarding the potential therapeutic benefits and successful development of valopicitabine, or regarding any potential future revenues from valopicitabine.
Such forward-looking statements are subject to numerous factors, risks and uncertainties that may cause actual events or results to differ materially from the company's current expectations. There can be no guarantee that valopicitabine will be successfully developed or approved for sale in any market, or that it will reach any particular level of revenue. In particular, management's expectations regarding valopicitabine could be affected by risks and uncertainties relating to the results of clinical trials and other studies with respect to valopicitabine, including further analysis of existing clinical data, additional data from the ongoing phase IIb clinical trials and data from any subsequent phase III clinical trials; the timing, acceptance and approval, if any, of regulatory filings submitted to the FDA or other regulatory bodies around the world, the company's dependence on its collaboration with Novartis Pharma AG; the company's ability to obtain additional funding required to conduct its research, development and commercialization activities; the ability of the company to attract and retain qualified personnel; competition in general; and the company's ability to obtain, maintain and enforce patent and other intellectual property protection for valopicitabine. These and other risks which may impact management's expectations regarding valopicitabine are described in greater detail under the caption "Factors That May Affect Future Results" in the company's quarterly report on Form 10-Q for the quarter ended September 30, 2005 and filed with the Securities and Exchange Commission and other filings that the company makes with the Securities and Exchange Commission.
All forward-looking statements reflect the company's expectations only as of the date of this release and should not be relied upon as reflecting the company's views, expectations or beliefs at any date subsequent to the date of this release. Idenix anticipates that subsequent events and developments may cause these views, expectations and beliefs to change. However, while Idenix may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so.
Source: Idenix Pharmaceuticals
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