Healthcare Industry News: Allergan
News Release - June 7, 2007
Inspire Adds Stephen D. Celestini as Senior Vice President and Chief Compliance OfficerDURHAM, N.C.--(HSMN NewsFeed)--Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH ) announced today the hiring of Stephen D. Celestini as Senior Vice President and Chief Compliance Officer, reporting to Inspire's President and CEO, Christy L. Shaffer, Ph.D.
"We are extremely pleased to have Steve join the Inspire team," stated Christy L. Shaffer, President and CEO of Inspire. "Steve has valuable experience in leading compliance programs, in particular for companies with marketed prescription products. As we move forward to launch and commercialize AzaSite(TM), Steve's expertise and legal background will complement our existing outstanding quality and compliance team."
Mr. Celestini previously served as General Counsel and Vice President, Corporate Compliance, of Salix Pharmaceuticals, Ltd. from 2001 until 2006. Prior to that, he worked for five years in the legal department of GlaxoWellcome in Research Triangle Park, NC, where he focused on pharmaceutical product licensing and sales/marketing compliance. From 1989 to 1996, Mr. Celestini worked in the private law firms of Womble Carlyle Sandridge & Rice in Winston-Salem, NC, and Wyrick Robbins Yates & Ponton in Raleigh, NC, concentrating in securities, corporate finance and governance, mergers and acquisitions, and intellectual property matters. Mr. Celestini earned a B.A. in Political Science from Virginia Tech in 1985 and a J.D. from Wake Forest University Law School in 1989.
Inspire is a biopharmaceutical company dedicated to discovering, developing and commercializing prescription pharmaceutical products in disease areas with significant commercial potential and unmet medical needs. Inspire employs a U.S. sales force for the promotion of AzaSite(TM) (azithromycin ophthalmic solution) 1% for bacterial conjunctivitis, Elestat® (epinastine HCl ophthalmic solution) 0.05% for allergic conjunctivitis and Restasis® (cyclosporine ophthalmic emulsion) 0.05% for dry eye. Inspire is focused on the therapeutic areas of ophthalmology and respiratory/allergy, and is developing products for dry eye, cystic fibrosis, allergic rhinitis and glaucoma. Elestat and Restasis are trademarks owned by Allergan, Inc. AzaSite is a trademark owned by InSite Vision Incorporated. For more information, visit www.inspirepharm.com.
The forward-looking statements in this news release relating to management's expectations and beliefs are based on preliminary information and management assumptions. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those relating to product development, revenue, expense and earnings expectations, the seasonality of Elestat, intellectual property rights, adverse litigation developments, adverse developments in the U.S. Securities and Exchange Commission (SEC) investigation, competitive products, results and timing of clinical trials, success of marketing efforts, the need for additional research and testing, delays in manufacturing, funding, and the timing and content of decisions made by regulatory authorities, including the U.S. Food and Drug Administration. Further information regarding factors that could affect Inspire's results is included in Inspire's filings with the SEC. Inspire undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof.
Source: Inspire Pharmaceuticals
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