Healthcare Industry News: Novartis Pharma AG
News Release - September 5, 2006
Idenix Pharmaceuticals, Inc. Announces Appointment of John F. Weidenbruch as Executive Vice President and General CounselCAMBRIDGE, Mass., Sept. 5 (HSMN NewsFeed) -- Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX ) today announced the appointment of John F. Weidenbruch to the position of executive vice president and general counsel. Reporting to Jean-Pierre Sommadossi, Ph.D., chairman and chief executive officer of Idenix, Weidenbruch is responsible for the company's legal and government affairs activities. Additionally, Weidenbruch will serve on the executive committee of Idenix and as Idenix's corporate secretary. Weidenbruch replaces Andrea Corcoran, who has resigned as an executive officer, but will remain employed by Idenix in an advisory role.
"We are pleased to welcome John to the Idenix senior management team," said Dr. Sommadossi. "John brings nearly 20 years of industry experience along with strong leadership skills to Idenix. His experience, specifically in the areas of commercialization and compliance, will be critical as we seek to evolve from a research and development organization to a fully integrated pharmaceutical company."
Dr. Sommadossi added, "We thank Andrea for her service to Idenix. She has been instrumental to Idenix's success and growth since its inception in 1998."
Prior to joining Idenix, Weidenbruch served as general counsel at Abraxis BioScience Inc., where he was responsible for all legal aspects of the company, including regulatory, corporate and commercialization activities. Prior to joining Abraxis, Weidenbruch worked at Amgen Inc. for more than ten years, where he held positions of increasing responsibility including senior director of law operations and senior associate general counsel of global commercial operations, leading a team of attorneys that, along with day-to-day guidance for commercial activities, supported the launch of new products. Weidenbruch also served as the assistant general counsel and director of state government relations for the Nonprescription Drug Manufacturers Association, where he directed the association's legislative representation before all fifty state legislatures, boards of pharmacy and regulatory bodies. Weidenbruch holds a B.A. from Loyola College in Baltimore, Maryland and a J.D. from Georgetown University Law Center in Washington, D.C.
Idenix Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery, development and commercialization 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 such as "will be," "seek to," "evolve" or similar expressions and implied statements with respect to the potential evolution of Idenix from a research and development organization to a fully integrated pharmaceutical company and Mr. Weidenbruch's anticipated contributions to Idenix. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantees that Idenix will successfully evolve from a research and development organization to fully integrated pharmaceutical company. In particular, management's expectations could be affected by the unexpected regulatory actions or delays with respect to the regulatory review of pending marketing applications to approve its product candidate, telbivudine, or government regulation generally; uncertainties relating to results of clinical trials, including additional data relating to the ongoing clinical trials evaluating its product candidates; the company's ability to obtain additional funding required to conduct its research, development and commercialization activities; the company's dependence on its collaboration with Novartis Pharma AG; 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 its other product candidates and its discoveries. These and other risks which may impact management's expectations are described in greater detail under the caption "Risk Factors" in the company's quarterly report on Form 10- Q for the quarter ended June 30, 2006 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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