MISSISSAUGA, ON, April 7, 2016 /PRNewswire/ - Cipher
Pharmaceuticals Inc. (NASDAQ:CPHR; TSX:CPH) ("Cipher" or "the
Company") today announced that Rosemary A.
(Rose) Crane and Dr. Renee P.
Tannenbaum, two pharmaceutical industry leaders, are being
proposed for election to Cipher's Board of Directors at the
Company's Annual and Special Meeting on May
5, 2016.
Ms. Crane has more than 30 years of experience in large global
pharmaceutical companies and development-stage companies. She
currently serves on the Board of Directors of Teva Pharmaceutical
Industries, Ltd. (NASDAQ: TEVA) one of the largest generic
pharmaceutical companies in the world. Previously, Ms. Crane served
as President and Chief Executive Officer of MELA Sciences, Inc.
from 2013 to 2014. Ms. Crane was Head of Commercialization and a
partner at Appletree Partners from 2011 to 2013. Previously, she
served as President and Chief Executive Officer of Epocrates Inc.;
and held several senior executive positions at Johnson &
Johnson, including as Group Chairman, OTC & Nutritional Group,
Group Chairman, Consumer, Specialty Pharmaceuticals and
Nutritionals, and Executive Vice President of Global Marketing for
the Pharmaceutical Group. Prior to that, she held various positions
at Bristol-Myers Squibb from 1982 to 2002, including as President
of U.S. Primary Care and as President of Global Marketing and
Consumer Products. Ms. Crane has served as Vice Chairman of the
Board of Zealand Pharma A/S since 2015. Ms. Crane received an
M.B.A. from Kent State University in
1986 and a B.A. in communications and English from the State University of New York in 1981.
Dr. Tannenbaum has more than 30 years of experience
with leading companies in the biopharmaceutical industry. Most
recently, she served as Head of Global Customer
Excellence at AbbVie, Inc. (NYSE: ABBV) where she was
responsible for building commercial capabilities for the
organization. Prior to joining AbbVie, Dr. Tannenbaum served
as President of Myrtle Potter
& Company, LLC, a global life sciences consulting and advisory
firm. From 2009 to 2011, she served as Executive Vice President and
Chief Commercial Officer at Elan Pharmaceuticals, Inc., where she
was responsible for revenue generation for Elan's marketed
products and preparation for the commercialization of the
company's pipeline. Prior to her role at Elan, Dr. Tannenbaum was
at Novartis Pharma AG for three years, where she led the Global
Commercial Operations organization. Prior to that, she spent nine
years at Bristol Myers Squibb and 16 years at Merck and Company in
a variety of leadership positions. Dr. Tannenbaum received her
Doctor of Pharmacy degree from the Philadelphia College of Pharmacy and Sciences,
where she retains an Adjunct Faculty position in the Mayes College
of Healthcare Business and Policy, her MBA from Temple University, and her Bachelor of Science
degree in Pharmacy from the University of
Connecticut. She currently serves on the Board of
Directors of Zogenix, Inc. (NASDAQ: ZGNX)
"We're fortunate to attract two highly accomplished
pharmaceutical industry leaders as potential independent
directors," said Gerry McDole, Chair
of Cipher's Board of Directors. "As Cipher continues on its path to
building the most customer-centric dermatology company in
North America, Renee and Rose
would bring proven and relevant industry experience to complement
and strengthen our existing Board skill-set."
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.