MISSISSAUGA, ON, March 4, 2016 /PRNewswire/ - Cipher
Pharmaceuticals Inc. (NASDAQ:CPHR; TSX:CPH) ("Cipher" or "the
Company") today announced that Ralph
Bohrer has joined the Company in the position of President
and General Manager of its U.S. subsidiary. Mr. Bohrer is a
seasoned pharmaceutical executive with 30 years of experience in
sales and marketing leadership for growing dermatology
companies.
Prior to joining Cipher, he was Executive Director, Sales and
Marketing of Taro Pharma, a global leader in the development,
manufacture and sale of dermatology products. In this role, he was
responsible for all aspects of their branded dermatology business
unit for Taro Pharmaceutical Industries. Previously, he was Vice
President, Sales at Triax Pharmaceuticals (acquired by PreCision
Dermatology in 2012), where he led a 60-person team responsible for
the promotion and sale of a line of prescription dermatology
products, including category leader Locoid® Lipocream
and Lotion, Tretin X® and Minocin®. Mr.
Bohrer was also Principal of Ridgeback Associates, a consulting
business he founded to provide companies with insight and direction
toward specific and measurable sales, marketing, and business
development objectives within various pharmaceutical sectors. Prior
to Ridgeback, he spent 14 years with Medicis Pharmaceutical in
progressively senior positions, including President of Medicis
Canada, and Senior Vice President, Sales, where he helped drive
sales from inception to more than US$300
million while establishing and directing a 175-person sales
organization. Prior to leaving Medicis, he was General Manager of
Ascent Pediatrics/Ucyclyd Pharma, the pediatric and orphan drug
subsidiaries of Medicis.
"We're building a fast-growing dermatology business, underpinned
by a high-quality sales and marketing organization with a clear
focus on the customer, and Ralph is a great addition to our
organization," said Shawn Patrick
O'Brien, President & CEO of Cipher. "He is a highly
accomplished executive and has the sales leadership experience,
industry knowledge and connections in the field to drive the growth
of our current commercial products and the successful introduction
of multiple new products we expect to bring to the market in the
coming years."
"This is an exciting time to join the Cipher organization," said
Mr. Bohrer. "There is a great opportunity for a new entrant in the
dermatology space. In a short period of time, Cipher has
established a commercial foothold with multiple promising assets –
a solid platform from which to expand the business. I look forward
to working with the team to deliver on the growth plan."
About Cipher Pharmaceuticals Inc.
Cipher Pharmaceuticals (NASDAQ:CPHR; TSX:CPH) is a rapidly
growing specialty pharmaceutical dermatology company with a
diversified portfolio of commercial-stage products with the goal of
becoming the most customer-centric dermatology company in
North America.
Cipher completed seven transactions in 2015, including the
acquisition of Innocutis and its nine branded dermatology products,
to build its U.S. commercial presence, expand its Canadian
dermatology franchise and broaden its pipeline. Cipher is
well-capitalized to drive long-term, sustained earnings growth by
leveraging its proven clinical development capabilities and
efficient commercial execution. For more information, visit
www.cipherpharma.com.
Forward-Looking Statements
Statements made in this news release may be forward-looking
and therefore subject to various risks and uncertainties. The words
"may", "will", "could", "should", "would", "suspect", "outlook",
"believe", "plan", "anticipate", "estimate", "expect", "intend",
"forecast", "objective", "hope" and "continue" (or the negative
thereof), and words and expressions of similar import, are intended
to identify forward-looking statements. Certain material factors or
assumptions are applied in making forward-looking statements and
actual results may differ materially from those expressed or
implied in such statements. Factors that could cause results
to vary include those identified in the Company's Annual
Information Form, Form 40-F and other filings with Canadian and
U.S. securities regulatory authorities. These factors include, but
are not limited to our ability to enter into in-licensing,
development, manufacturing and marketing and distribution
agreements with other pharmaceutical companies and keep such
agreements in effect; our dependency on three products;
integration difficulties and other risks if we acquire or
in-license technologies or product candidates; reliance on
third parties for the marketing of our products; the product
approval process is highly unpredictable; the timing of
completion of clinical trials; reliance on third parties to
manufacture our products; we may be subject to product liability
claims; unexpected product safety or efficacy concerns may arise;
generate revenue from a limited number of distribution and supply
agreements; the pharmaceutical industry is highly competitive;
requirements for additional capital to fund future operations;
dependence on key managerial personnel and external
collaborators; no assurance that we will receive regulatory
approvals in the U.S., Canada or
any other jurisdictions; limitations on reimbursement in the
healthcare industry; limited reimbursement for products by
government authorities and third-party payor policies;
various laws pertaining to health care fraud and abuse; reliance on
the success of strategic investments and partnerships; the
publication of negative results of clinical trials; unpredictable
development goals and projected time frames; rising insurance
costs; ability to enforce covenants not to compete; risks
associated with the industry in which it operates; foreign currency
risk; the potential violation of intellectual property rights of
third parties; our efforts to obtain, protect or enforce our
patents and other intellectual property rights related to our
products; changes in U.S., Canadian or foreign patent law;
litigation in the pharmaceutical industry concerning the
manufacture and supply of novel versions of existing drugs that are
the subject of conflicting patent rights; inability to protect our
trademarks from infringement; shareholders may be further diluted;
volatility of our share price; a significant shareholder; we do not
currently intend to pay dividends; and our operating results may
fluctuate significantly; we may be unsuccessful in evaluating
material risks involved in complete and future acquisitions; we may
be unable to identify, acquire or integrate acquisition targets
successfully; operations in the U.S.; and inability to meet
covenants on our credit facilities. All forward-looking statements
presented herein should be considered in conjunction with such
filings. Except as required by Canadian or U.S. securities laws,
the Company does not undertake to update any forward-looking
statements; such statements speak only as of the date made.
SOURCE Cipher Pharmaceuticals Inc.