Healthcare Industry News: MicroNe
News Release - October 25, 2011
Aegerion Pharmaceuticals Appoints Craig E. Fraser as President, U.S.
Company Continues Expansion in Anticipation of Commercial Launch of LomitapideCAMBRIDGE, Mass., Oct. 25, 2011 -- (Healthcare Sales & Marketing Network) -- Aegerion Pharmaceuticals, Inc. (Nasdaq:AEGR ), an emerging biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat severe lipid disorders, announced the appointment of Craig E. Fraser as President, U.S.
Mr. Fraser was most recently Vice President, Global Disease Areas at Pfizer Inc. responsible for the commercial development and global marketing for the Specialty Cardiovascular, Anti-Bacterial, Anti-Fungal, Gastrointestinal and Anti-Viral disease areas, where he managed a portfolio of six products totaling over three billion dollars in revenue and multiple new products in development. He was charged with establishing the company's future specialty cardiovascular business including commercial inputs for the rare disease lipid market.
Prior to Pfizer, Mr. Fraser was Vice President and Global Business Manager at Wyeth, where he led the institutional/infectious disease business. Before that, Mr. Fraser held several commercial positions at Johnson & Johnson, most recently as Vice President, Commercial Operations and Oncology Sales and Marketing. Previously, he was Gastroenterology Franchise lead as well as National Sales Director of the Immunology and Cardiovascular business units at Centocor, a start-up biotech and diagnostic company focused on monoclonal antibody-based technology.
"Craig joins Aegerion at a critical time, as we plan for the anticipated approval and launch of lomitapide in 2012," said Chief Executive Officer Marc D. Beer. "His experience managing the commercial development of a broad array of products in major global companies, specifically in the cardiovascular and highly specialized disease areas, ideally positions him as the lead of our U.S. commercial team. Craig has the proven ability to facilitate a successful launch and grow revenues effectively, and we eagerly welcome him to our growing management team."
About Aegerion Pharmaceuticals, Inc.
Aegerion Pharmaceuticals, Inc. (Nasdaq:AEGR ) is an emerging biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat severe lipid disorders. The Company's lead product, lomitapide, is in Phase III clinical development. Lomitapide is initially being developed to treat patients with a rare genetic lipid disorder called homozygous familial hypercholesterolemia, or HoFH. The Company also plans to initiate a clinical program for lomitapide to treat patients with a severe genetic form of hypertriglyceridemia called familial chyloMicroNemia (FC).
Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Private Securities Litigation Reform Act of 1995, including statements regarding the ongoing development of the Company's product candidates and the expected timing of regulatory filings. The forward-looking statements in this release do not constitute guarantees of future performance. These statements are neither promises nor guarantees, and are subject to a variety of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things: our history of operating losses; our potential need for additional capital to fund operations and develop our product candidates; uncertainties associated with the clinical development and associated regulatory filings of our product candidates, including the risk that our regulatory filings may not be accepted by the applicable regulatory authorities or that such acceptance may be delayed, the risk that our product candidates may not be approved for any indication, or if approved, the risk that the finally approved definition of the targeted patient populations for our product candidates may be narrower than we expect; risks associated with undesirable side effects experienced by some patients in clinical trials for our product candidates; risks associated with our lack of sales and marketing experience; the highly competitive industry in which we operate; risks associated with our intellectual property rights and the extent to which such intellectual property rights protect our product candidates; the risk that third parties may allege that we infringe their intellectual property rights or that we have failed to comply with the provisions of our in-license agreements; risks associated with our reliance on third parties, in particular clinical research organizations and contract manufacturers; risks associated with our ability to recruit, hire and retain qualified personnel; risks associated with our reliance on certain key personnel; and risks associated with volatility in our stock price as a newly public company. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by the Company, see the disclosure contained in the Company's public filings with the Securities and Exchange Commission, including the Company's most recent Quarterly Report on Form 10-Q under the heading "Risk Factors" and available on the SEC's website at http://www.sec.gov.
Source: Aegerion Pharmaceuticals
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