Healthcare Industry News: Famotidine
News Release - July 31, 2008
Horizon Therapeutics Announces Corporate Relocation to the Chicago Area
PALO ALTO, Calif., July 31 (HSMN NewsFeed) -- Horizon Therapeutics, Inc., a privately held biopharmaceutical company, today announced that it will move its corporate headquarters from Palo Alto, Calif. to the Chicago, Ill., area."The relocation will help us continue growing, extend our opportunities for partnerships and conduct business in one of the most dynamic markets in the country," said Timothy P. Walbert, president and chief executive officer of Horizon. "Chicago has all the elements to become a major life-science hub, but it's still rivaled by its bi-coastal counterparts. We wanted to relocate here to be an integral part of the market growth as well as leverage the existing market opportunities to grow our business."
The company will begin operations in its new headquarters in early August at the Illinois Science and Technology Park in Skokie, Ill., which formerly housed the Searle and then subsequently Pharmacia and Pfizer research and development offices. Horizon has approximately 50 full-time employees and consultants.
Mr. Walbert, who was recently named president and chief executive officer of Horizon and has approximately 20 years of proven experience launching and commercializing blockbuster drugs in the pain and arthritis fields, is focusing the Company's efforts on meeting the needs of arthritis and pain sufferers, specifically with its investigational compound HZT-501, a novel proprietary formulation of ibuprofen combined with Famotidine in a single pill currently in Phase 3 clinical trials. Because approximately 25 percent of NSAID users may develop stomach ulcers, HZT-501 may offer patients effective pain relief with the confidence of GI-protection. Horizon expects to have data from the HZT-501 Phase 3 trials in fourth quarter of this year.
About Horizon Therapeutics
Horizon Therapeutics, Inc. is a late-stage biopharmaceutical company focused on the development and commercialization of therapies for the treatment of mild-to-moderate pain and arthritis. Horizon's clinical portfolio includes innovative combination therapies in early- and late-stage development that are designed to improve safety, efficacy and patient compliance. For more information about the company and its products, please visit http://www.horizontherapeutics.com.
Source: Horizon Therapeutics
Issuer of this News Release is solely responsible for its
content.
Please address inquiries directly to the issuing company.
