Healthcare Industry News: OSI Pharmaceuticals
News Release - May 15, 2007
Achillion Appoints OSI Executive Robert Van Nostrand to Board of DirectorsNEW HAVEN, Conn., May 15, 2007 (Healthcare Sales & Marketing Network) -- Achillion Pharmaceuticals, Inc. (NasdaqGM:ACHN ), a leader in the discovery and development of small molecule drugs to combat the most challenging infectious diseases, today announced the appointment of Robert L. Van Nostrand to its Board of Directors. Mr. Van Nostrand, who is Senior Vice President and Chief Compliance Officer of OSI Pharmaceuticals, Inc., brings extensive experience in corporate accounting, finance and compliance, and will serve on Achillion's audit committee.
Since joining OSI in 1986, Mr. Van Nostrand has served in a number of capacities, including: Vice President and Chief Financial Officer; Vice President, Finance and Administration; Treasurer; Secretary; and Controller and Chief Accounting Officer. Prior to joining OSI, he served as a manager at the accounting firm Touche Ross & Company, now Deloitte and Touche.
``Bob's prior experience in public company administration within the pharmaceutical industry makes him a valuable addition to Achillion's board,'' said Michael Kishbauch, President and Chief Executive Officer of Achillion. ``Now that we are a public company, it is particularly important for us to have someone with his corporate governance expertise on our audit committee.''
Mr. Van Nostrand serves as the Chairman of the New York Biotechnology Association, and is also on the Cold Spring Harbor DNA Learning Center Corporate Advisory Board and the Foundation Board of Farmingdale University. Additionally, he is an active member of the Association of Bioscience Financial Officers. Mr. Van Nostrand holds a B.S. in Accounting from Long Island University, and he completed advanced management studies at the Wharton School at the University of Pennsylvania. He is a Certified Public Accountant.
Achillion is an innovative pharmaceutical company dedicated to bringing important new treatments to patients with infectious disease. The company's proven discovery and development teams have advanced multiple product candidates with novel mechanisms of action. Achillion is focused on solutions for the most challenging problems in infectious disease -- HIV, hepatitis and resistant bacterial infections. For more information on Achillion Pharmaceuticals, please visit the company's web site at http://www.achillion.com or call Achillion at 1-203-624-7000.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including statements with respect to Achillion's ability to discover and develop drug candidates and the nomination of a new NS4A antagonist candidate. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: unexpected regulatory actions or delays; uncertainties relating to results of clinical trials, including additional data relating to ongoing clinical trials; Achillion's ability to obtain additional funding required to conduct its research, development and commercialization activities and Achillion's dependence on its collaboration with Gilead Sciences. These and other risks are described in the reports filed by Achillion with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2006.
All forward-looking statements reflect Achillion's expectations only as of the date of this release and should not be relied upon as reflecting Achillion's views, expectations or beliefs at any date subsequent to the date of this release. Achillion anticipates that subsequent events and developments may cause these views, expectations and beliefs to change. However, while Achillion may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so.
Source: Achillion Pharmaceuticals
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