Healthcare Industry News: Biovail
News Release - October 7, 2008
MiddleBrook Pharmaceuticals Announces Changes to Management TeamGERMANTOWN, Md., Oct. 7 (Healthcare Sales & Marketing Network) -- MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK ), a pharmaceutical company focused on developing and commercializing novel anti-infective products, today announced new management team members.
John Thievon, MiddleBrook president and CEO, said, "These changes are an important first step toward transitioning MiddleBrook to a full-fledged commercial operation. Next, we will fill key sales management positions and begin recruiting field force representatives. We look forward to sharing more information on our plans and progress during our third quarter earnings conference call."
-- Timothy L. Miller has joined MiddleBrook Pharmaceuticals as Senior Vice President, Sales Operations & Administration. Prior to joining MiddleBrook, Miller served as Vice President, Sales Operations & Training at Adams Respiratory Therapeutics, Inc. (Adams). Previously, he held numerous key positions in sales, operations and finance at Aventis Pharmaceuticals, Inc. and its legacy companies.
-- Brian J. Carlino has joined MiddleBrook Pharmaceuticals as Vice President, Sales. Prior to joining MiddleBrook, Carlino held multiple sales, trade, and managed care leadership roles at Salix Pharmaceuticals, Inc. and its predecessor company, InKine Pharmaceutical Company, Inc. Previously, he was a sales manager at Adams Laboratories, Inc. and worked in sales at UCB Pharma, Inc.
-- William G. Volz has joined MiddleBrook Pharmaceuticals as Vice President, Marketing. Prior to joining MiddleBrook, Volz was Senior Director of Sales & Marketing at Ivax Laboratories, Inc. Previously, he held successive leadership roles in the ophthalmic division of Novartis, including Executive Director, U.S. Sales; Global Marketing Director, Allergy; U.S. Marketing Director, Allergy & OTC.
The Company also announced key hires in legal, information technology, finance, and investor relations. MiddleBrook EVP and CFO David Becker said, "These changes to our leadership team will enable us to effectively support commercial operations and identify and implement programs focused on extracting maximum value from company-wide resources."
-- Brad Cole has joined MiddleBrook Pharmaceuticals as Senior Vice President, General Counsel. Prior to joining MiddleBrook, Cole served as Associate General Counsel at Adams. Prior to Adams, Cole was with the law firm Holland & Knight LLP, where he worked on corporate, securities and M&A matters.
-- Michael J. Butrico has joined MiddleBrook Pharmaceuticals as Vice President of Information Technology and Automation. Prior to joining MiddleBrook, Butrico served as Executive Director, Information Technology at Adams. Previously, he held key technology positions at Chubb and AT&T.
-- David N. Carlson has joined MiddleBrook Pharmaceuticals as Vice President of Finance & Treasurer. Prior to joining MiddleBrook, Carlson held several key finance positions at Adams; most recently Vice President of Finance & Plant Controller. Formerly, he held various positions in finance at RxAmerica, a fully-integrated retail and mail service provider of pharmacy benefit management services.
-- Cynthia C. Tirpak has joined MiddleBrook Pharmaceuticals as Vice President, Controller. Prior to joining MiddleBrook, Tirpak was Executive Director, Business Development & Assistant Treasurer at Adams. Previously, she was Assistant Controller for Adams. Tirpak also held various operational and corporate finance positions at Biovail Pharmaceuticals and Pharmacia Corporation. She began her career as an auditor with Deloitte & Touche and is a CPA.
-- Faith Pomeroy-Ward has joined MiddleBrook Pharmaceuticals as Executive Director, Investor Relations & Corporate Communications. Prior to joining MiddleBrook, Pomeroy-Ward worked in public affairs and communications for Verizon Telecom. Previously, she served as Senior Manager, Investor Relations & Corporate Communications at Adams.
MiddleBrook Pharmaceuticals Reports Inducement Grants Under NASDAQ Marketplace Rule 4350
MiddleBrook Pharmaceuticals also announced today that on Oct. 1, 2008, it granted options to purchase 125,000 shares of MiddleBrook's common stock to two new employees as a material inducement for them to join the company. The options were granted pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) and under MiddleBrook's New Hire Stock Incentive Plan, which was approved by MiddleBrook's Board of Directors on Sept. 26, 2008. The options have a per share exercise price equal to the closing price of MiddleBrook's common stock on the Nasdaq Global Market on the day immediately preceding the grant date, a ten-year term and vesting over four years, with 25 percent of the options vesting one year from the grant date and 1/48th of the options vesting monthly thereafter. The options have a grant date of Oct. 1, 2008.
MOXATAG(TM) (amoxicillin extended-release) tablets are a once-a-day extended-release formulation of amoxicillin for oral administration consisting of three components: one immediate-release component and two delayed-release components. The three components are combined in a specific ratio to prolong the release of amoxicillin from MOXATAG(TM) compared to immediate-release amoxicillin. MOXATAG(TM) is intended to provide a lower treatment dose, once- daily alternative to currently approved penicillin and amoxicillin regimens for the treatment of adults and pediatric patients 12 years and older with tonsillitis and/or pharyngitis.
About Middlebrook Pharmaceuticals:
MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK ) is a pharmaceutical company focused on the development and commercialization of anti-infective drug products that fulfill substantial unmet medical needs in the treatment of infectious disease. The Company is developing anti-infective drugs based on its novel biological finding that bacteria exposed to antibiotics in pulses are killed more efficiently and effectively than those under standard treatment regimens. Based on this finding, MiddleBrook has developed a proprietary, once-a-day pulsatile delivery technology called PULSYS®. The Company currently markets the Keflex® brand of cephalexin and has received regulatory approval for MOXATAG(TM) -- the first and only once-daily amoxicillin product approved for marketing in the U.S. For more on MiddleBrook, please visit www.middlebrookpharma.com.
This announcement contains forward-looking statements, within the meaning of the Securities Exchange Act of 1934 and the Securities Act of 1933, that involve risks and uncertainties. In some cases, forward-looking statements are identified by words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and similar expressions. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this announcement. All of these forward-looking statements are based on information available to us at this time, and we assume no obligation to update any of these statements. Actual results could differ from those projected in these forward-looking statements as a result of many factors, including those identified in the sections titled "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in our Annual Report on Form 10-K for the year ended Dec. 31, 2007. We urge you to review and consider the various disclosures made by us from time to time in our filings with the Securities and Exchange Commission, that attempt to advise you of the risks and factors that may affect our future results.
Source: MiddleBrook Pharmaceuticals
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