Healthcare Industry News: Merck
News Release - May 10, 2011
Columbia Laboratories Appoints Kip Martin as Vice President, Business DevelopmentLIVINGSTON, N.J.--(Healthcare Sales & Marketing Network)-- Columbia Laboratories, Inc. (Nasdaq:CBRX ) today announced the appointment of Kip Martin as Vice President, Business Development effective May 1, 2011. He reports to Frank Condella, Columbia's President and Chief Executive Officer.
Mr. Condella said, "As a consultant, Kip was instrumental in the recent sale of STRIANT® (testosterone buccal system) to Actient Pharmaceuticals and the expansion of our relationship with The Urology Company for STRIANT to include all of Europe. We are pleased to welcome him as a full-time member of the Columbia team. With his experience and proven track record, Kip will be an important contributor as we execute the Company’s global business strategy and work to maximize return for our stockholders."
Mr. Martin is an experienced business development executive with over 15 completed transactions over the past ten years. He served as a business development consultant to Columbia Laboratories from August 2010 through April 2011. He concurrently consulted on business development and fundraising activities for Inspirion Delivery Techonologies, a privately-held drug delivery company developing abuse-deterrent opioids, from January 2009. Prior to Inspirion, Mr. Martin was Director of Corporate and Business Development at Alpharma, Inc. where he supported the in-licensing of innovative pain products and led the company’s divestiture of its Active Pharmaceutical Ingredients business to a European private equity firm for $395 million. Prior to Alpharma, Mr. Martin was Director of Business Development of Reliant Pharmaceuticals, with responsibility for all aspects of identifying and gaining access to commercialized products and late-stage development candidates. He began his career as a Consultant with The Wilkerson Group. Mr. Martin holds an MBA in finance from Yale University and a BS with honors in engineering from Case Western Reserve University.
About Columbia Laboratories
Columbia Laboratories, Inc. is developing products that utilize its novel bioadhesive drug delivery technologies to optimize drug delivery in a controlled, sustained manner. The Company has developed and sold six products for the U.S. market including CRINONE® (progesterone gel) for which Columbia receives royalties on annual net sales from Watson Pharmaceuticals. CRINONE is commercialized outside the U.S. by Merck Serono. The Company submitted a New Drug Application (NDA) to the Food and Drug Administration for PROCHIEVE® (progesterone gel) for the reduction of risk of preterm birth in women with short uterine cervical length in the mid-trimester of pregnancy on April 26, 2011.
Columbia's press releases and other company information are available online at www.columbialabs.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This communication contains forward-looking statements, which statements are indicated by the words “may,” “will,” “plans,” “believes,” “expects,” “intends,” “anticipates,” “potential,” “should,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Factors that might cause future results to differ include, but are not limited to, the following: the successful marketing of CRINONE® by Watson Pharmaceuticals, Inc., in the United States; the successful marketing of CRINONE by Merck Serono outside the United States; successful development of a next-generation vaginal progesterone product; acceptance for filing by the United States Food and Drug Administration (“FDA”) of the New Drug Application (“NDA”) for PROCHIEVE® in the preterm birth indication; the decision of the FDA on Columbia's request for Priority Review for this NDA; the outcome of further statistical analyses by the FDA of the clinical data generated during the PREGNANT Study; success in obtaining timely FDA approval of PROCHIEVE in the preterm birth indication; the ability of our third-party manufacturers to supply CRINONE, PROCHIEVE and STRIANT®; the impact of competitive products and pricing; the timely and successful negotiation of partnerships or other transactions; the strength of the United States dollar relative to international currencies, particularly the euro; competitive economic and regulatory factors in the pharmaceutical and healthcare industry; general economic conditions; and other risks and uncertainties that may be detailed, from time-to-time, in Columbia's reports filed with the SEC. Columbia does not undertake any responsibility to revise or update any forward-looking statements contained herein.
CRINONE® and PROCHIEVE® are registered trademarks of Watson Pharmaceuticals, Inc.
STRIANT® is a registered trademark of Actient Pharmaceuticals LLC
Source: Columbia Laboratories
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