Healthcare Industry News: Cintredekin Besudotox
News Release - March 26, 2007
NEOPHARM Names Laurence P. Birch as President and CEO
WAUKEGAN, Ill.--(HSMN NewsFeed)--NEOPHARM, Inc. (Nasdaq:NEOL ) today announced the appointment of Laurence P. Birch to the position of President and CEO of the Company, replacing Guillermo A. Herrera, who is no longer employed by the Company as of March 23, 2007. Mr. Birch will also be appointed to the Company's Board of Directors.Mr. Birch comes to NEOPHARM with over 25 years of extensive business and financial expertise in and out of the pharmaceutical industry. Most recently, Mr. Birch served in a senior operating position at Ohio Medical Corporation. Prior to that, he served as Senior Vice President and Chief Financial Officer and interim President and Chief Executive Officer of AKSYS, Ltd. Mr. Birch began his career with Baxter Healthcare where he held various finance and operating management positions. Mr. Birch is a CPA and earned an MBA from Northwestern University's Kellogg Graduate School of Management.
"The opportunity to lead NEOPHARM and build a stronger platform for the successful discovery and commercialization of cancer drugs and therapies is one I accept with great pride," said Birch. "We will act with calculated urgency as we continue to evaluate the path for Cintredekin Besudotox, as well as the rest of the drugs in our pipeline. We will embrace the challenges that lie ahead and look to build a culture and company that our shareholders will be proud of owning."
"Larry is a proven leader and his depth of experience in repositioning other companies will be a true asset for NEOPHARM," said Dr. John Kapoor, Chairman of the Board. "Under Larry's direction, we are confident that we will continue to build the Company and successfully develop our suite of anticancer compounds."
About NEOPHARM
NEOPHARM, Inc., based in Waukegan, Illinois, is a publicly traded biopharmaceutical company dedicated to the research, development and commercialization of new and innovative cancer drugs for therapeutic applications. The Company has a number of cancer compounds in various stages of development. Additional information can be obtained by visiting NEOPHARM's website at www.NEOPHARM.com.
Forward-looking Statements
This Press Release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such terms as "expects," "intends," "hopes," "anticipates," "believes," "could," "may," "evidences," and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to, any statements relating to the Company's drug development program, future patient enrollment in the Company's current and planned clinical trials, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to changes in management, delays in financing, development, testing, obtaining regulatory approval, production and marketing of the Company's drug and non-drug compounds, including, but not limited to, Cintredekin Besudotox, uncertainty regarding the Company's ability to market its drug and non-drug products, including, but not limited to, Cintredekin Besudotox, and other risks detailed from time-to-time in filings the Company makes with the Securities and Exchange Commission including its annual reports on Form 10-K and quarterly reports on Form 10-Q. Such statements are based on management's current expectations, but actual results may differ materially due to various factors including those risks and uncertainties mentioned or referred to in this Press Release. Accordingly, you should not rely on these forward-looking statements as a prediction of actual future results.
Source: NEOPHARM
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