Healthcare Industry News: BD
News Release - June 28, 2006
Adolor Corporation Appoints Scott T. Megaffin as Vice President, MarketingEXTON, Pa.--(HSMN NewsFeed)--June 28, 2006--Adolor Corporation (NASDAQ: ADLR ) announced today the appointment of Scott T. Megaffin as vice president, marketing. Mr. Megaffin will be responsible for the development of the strategic marketing efforts for the company's product candidates. Mr. Megaffin brings over 20 years of experience in marketing and selling of hospital products; his broad based experience extends to specialty and primary care.
"We are pleased to welcome Scott to our management team," said Roger D. Graham, Jr., senior vice president, sales and marketing, Adolor Corporation. "Scott has tremendous experience developing and implementing strategies for products in pain management and in launches for new products. Scott's expertise is a wonderful fit for Adolor."
Mr. Megaffin has demonstrated achievement throughout his career in driving growth within brand marketing units and launching several major products. Mr. Megaffin served most recently as a senior director of marketing at Schering-Plough, where he led the re-positioning and messaging of PegIntron® globally. Prior to that, Mr. Megaffin developed the platform for key commercial activities for the launch of Vaprisol® as a director of marketing for Yamanouchi Pharma America.
"I am delighted to join the management team of Adolor," Mr. Megaffin stated. "Adolor is at a very exciting stage of corporate development, with a portfolio of attractive product opportunities that are focused on patient benefit in the management of pain and a solid financial position with which to advance these opportunities."
PegIntron® is a registered trademark of Schering-Plough.
Vaprisol® is a registered trademark of Astellas Pharma US, Inc.
About Adolor Corporation
Adolor Corporation (NASDAQ: ADLR ) is a biopharmaceutical company specializing in the discovery, development and commercialization of novel prescription pain management products. Entereg (alvimopan) is Adolor's lead product candidate under development for the management of the gastrointestinal side effects associated with opioid use. Adolor and GSK are collaborating in the worldwide development and commercialization of Entereg® in multiple indications. Adolor is developing a sterile lidocaine patch which is in Phase 2 clinical development for post-incisional pain. Adolor also has a number of discovery research programs focused on the identification of novel compounds for the treatment of pain. By applying its knowledge and expertise in pain management, along with ingenuity, Adolor Corporation is seeking to make a positive difference for patients, caregivers and the medical community. For more information, visit www.adolor.com.
This release, and oral statements made with respect to information contained in this release, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those which express plan, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact. These statements are based upon management's current expectations and are subject to risks and uncertainties, known and unknown, which could cause actual results and developments to differ materially from those expressed or implied in such statements. Such known risks and uncertainties relate to, among other factors: the risk that Adolor may not obtain FDA approval for the NDA for Entereg® in POI, whether due to the risk that: Adolor is not able to provide additional data satisfactory to the FDA to obtain approval for the NDA; Adolor is not able to justify that the median reduction in time to gastrointestinal (GI) recovery seen in bowel resection patients treated with Entereg® is clinically meaningful; the adequacy of the results of the Studies 14CL302, 14CL306, 14CL308, 14CL313 and 14CL314 to support FDA approval of Entereg®, the results from other clinical trials of Entereg®, including the Glaxo Phase 3 Study 001, the adequacy of the development program, the conduct of the clinical trials, changing regulatory requirements, different methods of evaluating and interpreting data, reliance on third-party manufacturers, adverse safety findings or otherwise; the risk that the FDA may not agree with Adolor's analyses of Studies 14CL302, 14CL306, 14CL308, 14CL313 and 14CL314 and may evaluate the results of these studies by different methods or conclude that the results from the studies are not statistically significant, clinically meaningful or do not support safety or that there were human errors in the conduct of the studies or otherwise; the risk that further studies of Entereg® in OBD are not positive; the risk that the results of Study 001 do not support a submission of a marketing approval application for alvimopan in Europe for POI; the risk of unfavorable results of trials in other indications; the risk that filing targets or user fee goal dates for regulatory submissions are not met; the risk that FDA does not remove the clinical hold on the Delta IND; the costs, delays and uncertainties inherent in scientific research, drug development, clinical trials and the regulatory approval process; Adolor's history of operating losses since inception and its need for additional funds to operate its business; Adolor's reliance on its collaborators, including Glaxo, in connection with the development and commercialization of Entereg®; market acceptance of Adolor's products, if regulatory approval is achieved; competition; and securities litigation.
Further information about these and other relevant risks and uncertainties may be found in Adolor's Reports on Form 8-K, 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Adolor urges you to carefully review and consider the disclosures found in its filings which are available in the SEC EDGAR database at http://www.sec.gov and from Adolor at http://www.adolor.com. Given the uncertainties affecting pharmaceutical companies in the development stage, you are cautioned not to place undue reliance on any such forward-looking statements, any of which may turn out to be wrong due to inaccurate assumptions, unknown risks, uncertainties or other factors. Adolor undertakes no obligation to (and expressly disclaims any such obligation to) publicly update or revise the statements made herein or the risk factors that may relate thereto whether as a result of new information, future events, or otherwise.
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