Healthcare Industry News: Egalet Corporation
News Release - September 19, 2016
Egalet Appoints Patrick Shea as Chief Commercial OfficerWAYNE, Pa., Sept. 19, 2016 -- (Healthcare Sales & Marketing Network) -- Egalet Corporation (EGLT) ("Egalet"), a fully integrated specialty pharmaceutical company focused on developing, manufacturing and commercializing innovative treatments for pain and other conditions today announced the appointment of Patrick Shea as chief commercial officer (CCO). Mr. Shea will be responsible for leading Egalet's commercial activities and will report to Bob Radie, Egalet's chief executive officer.
"With his extensive pharmaceutical and biotechnology sales and marketing experience, including his intimate knowledge of payor dynamics and product launch leadership, Pat will be an extremely valuable asset to Egalet as we prepare to launch ARYMO ER, pending FDA approval, in the first quarter of 2017," said Mr. Radie.
Mr. Shea has over two decades of sales, marketing, market access and commercial operations experience. Most recently Mr. Shea served as CCO at Clarus Therapeutics, Inc., a men's health specialty pharmaceutical company. Prior to Clarus he served as vice president of sales and marketing for the U.S. commercial operations of CSL Behring, where he oversaw strategic efforts for sales, marketing and managed care business. Before that he served as senior vice president of sales and marketing for the U.S. pharmaceutical operations at Astellas Pharmaceuticals, and held senior sales and marketing roles at Ligand Pharmaceuticals and Boehringer Ingelheim. Mr. Shea received his bachelor's degree in Psychology from Alfred University.
Egalet, a fully integrated specialty pharmaceutical company, is focused on developing, manufacturing and commercializing innovative treatments for pain and other conditions. Egalet has two approved products: OXAYDO® (oxycodone HCI, USP) tablets for oral use only –CII and SPRIX® (ketorolac tromethamine) Nasal Spray. In addition, using its proprietary Guardian™ Technology, Egalet is developing a pipeline of clinical-stage, product candidates that are specifically designed to deter abuse by physical and chemical manipulation. The lead programs, ARYMO™ ER, an abuse-deterrent, extended-release, oral morphine formulation, and Egalet-002, an abuse-deterrent, extended-release, oral oxycodone formulation, are being developed for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Egalet's Guardian Technology can be applied broadly across different classes of pharmaceutical products and can be used to develop combination products that include multiple active pharmaceutical ingredients with similar or different release profiles. For additional information on Egalet, please visit egalet.com. For full prescribing information on SPRIX, including the boxed warning, please visit sprix.com. For full prescribing information on OXAYDO, please visit oxaydo.com.
Statements included in this press release (including but not limited to anticipated labeling for ARYMO ER) that are not historical in nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations, and are subject to known and unknown uncertainties and risks. Actual results could differ materially from those discussed due to a number of factors, including, but not limited to: the success of Egalet's clinical trials, including the timely recruitment of trial subjects and meeting the timelines therefor; Egalet's ability to obtain regulatory approval of its product candidates; Egalet's ability to maintain the intellectual property position of its products and product candidates; Egalet's ability to identify and reliance upon qualified third parties to manufacture its products; Egalet's ability to service its debt obligations; Egalet's ability to raise additional funds related to execute its business plan and growth strategy in terms acceptable to Egalet, if at all; Egalet's ability to find and hire qualified sales professionals; the receptivity in the marketplace and among physicians to Egalet's products; the success of products which compete with Egalet's that are or become available; general market conditions; and other risk factors described in Egalet's filings with the United States Securities and Exchange Commission. Egalet assumes no obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by law.
Source: Egalet Corp
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