Healthcare Industry News: Nabi Biopharmaceuticals
News Release - June 12, 2006
Nabi Biopharmaceuticals Names Jordan I. Siegel Chief Financial OfficerBOCA RATON, Fla., June 12 (HSMN NewsFeed) -- Nabi Biopharmaceuticals (Nasdaq: NABI ) today announced the appointment of Jordan I. Siegel as the company's senior vice president, finance, chief financial officer (CFO) and treasurer, effective June 12, 2006. Mr. Siegel brings to Nabi Biopharmaceuticals nearly 20 years of domestic and international finance, treasury and accounting expertise, as well demonstrated success in leading strategic financial initiatives.
Mr. Siegel joins Nabi Biopharmaceuticals from IVAX Corporation, where he most recently served as vice president of finance for its subsidiary, IVAX Pharmaceuticals, Inc. In this role he was responsible for all financial and accounting activities related to IVAX Pharmaceuticals' U.S. generic pharmaceutical business, including financial reporting, internal controls, Sarbanes-Oxley compliance and strategic planning. Prior to this role, Mr. Siegel served as vice president and treasurer, and was responsible for investor relations.
"Jordan has an impressive record of success, significant industry experience and demonstrated skills in finance, accounting, treasury and investor relations," stated Thomas H. McLain, chairman, chief executive officer and president, Nabi Biopharmaceuticals. "His knowledge and experience in the pharmaceutical industry will be valuable assets to Nabi Biopharmaceuticals as we work to achieve our key business objectives and to build value for our shareholders."
Mr. Siegel is a Certified Public Accountant. He received his bachelor's degree in accounting and his master of business administration in finance from Florida Atlantic University and earned a bachelor's degree in finance from the University of Florida.
In connection with the commencement of Mr. Siegel's employment, the company will grant him options to purchase 40,000 shares of the company's common stock and 60,000 shares of restricted stock. The exercise price of the options will be the closing price per share on the date of grant. The options will expire on the seventh anniversary of the grant date and become exercisable in four equal annual installments beginning on the first anniversary of the grant date, subject to his continued employment. The restricted stock will vest in full on the third anniversary of the grant date, provided that Mr. Siegel is employed by the company on that date.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering the immune system to develop and market products that fight serious medical conditions. The company has three products on the market today: PhosLo® (calcium acetate), Nabi-HB® [Hepatitis B Immune Globulin (Human)], and Aloprim(TM) (allopurinol sodium) for Injection. Nabi Biopharmaceuticals is focused on developing products that address unmet medical needs and offer commercial opportunities in our core business areas: Gram-positive bacterial infections, hepatitis and transplant, kidney disease (nephrology) and nicotine addiction. For a complete list of pipeline products, please go to: http://www.nabi.com/pipeline/index.php . The company is headquartered in Boca Raton, Florida. For additional information about Nabi Biopharmaceuticals, please visit our Website at: http://www.nabi.com .
Source: Nabi Biopharmaceuticals
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