Healthcare Industry News: Savient Pharmaceuticals
News Release - September 28, 2006
ImClone Systems Promotes Ana I. Stancic to Senior Vice President, FinanceMichael J. Howerton, Senior Vice President, Finance and Chief Financial Officer, to Leave the Company
NEW YORK--(HSMN NewsFeed)--ImClone Systems Incorporated (NASDAQ: IMCL ) announced today that Ana I. Stancic, Vice President, Finance and Chief Accounting Officer, has been promoted to Senior Vice President, Finance. In this role, Ms. Stancic will oversee the Company's finance department, information technology and internal audit. Ms. Stancic joined ImClone Systems as Vice President, Controller and Chief Accounting Officer in 2004.
The Company also announced that Michael J. Howerton, Senior Vice President, Finance and Chief Financial Officer, has decided to leave the Company. Mr. Howerton's decision was a personal decision and is not a reflection on the financial condition of the Company or any issues relating to financial controls.
Before joining the Company, Ms. Stancic was Vice President and Controller at Savient Pharmaceuticals, Inc. from 2003 to February 2004. Ms. Stancic was Vice President and Chief Accounting Officer at Ogden Corporation from 1999 to 2002 and Regional Chief Financial Officer at OmniCare, Inc. from 1997 to 1999. Ms. Stancic began her career in 1985 at PricewaterhouseCoopers in the Assurance practice where she had responsibility for international and national companies in the pharmaceutical and services industries. Ms. Stancic is a Certified Public Accountant and holds an M.B.A. degree from Columbia Business School.
"Ana has been closely involved in ImClone Systems' financial operations during her tenure here and has taken the lead in establishing enhanced financial systems and controls within the Company. She has also provided significant support to senior management in managing their financial resources," stated Joseph L. Fischer, Interim Chief Executive Officer of ImClone Systems. "We thank Michael for his years of service to the Company and for his valuable contributions during that time."
About ImClone Systems Incorporated
ImClone Systems Incorporated is committed to advancing oncology care by developing and commercializing a portfolio of targeted biologic treatments designed to address the medical needs of patients with a variety of cancers. The Company's research and development programs include growth factor blockers and angiogenesis inhibitors. ImClone Systems' strategy is to become a fully integrated biopharmaceutical company, taking its development programs from the research stage to the market. ImClone Systems' headquarters and research operations are located in New York City, with additional administration and manufacturing facilities in Branchburg, New Jersey.
Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the company's ability to control or predict. Important factors that may cause actual results to differ materially and could impact the company and the statements contained in this news release can be found in the company's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K. For forward-looking statements in this news release, the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
Source: ImClone Systems
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