Keryx Biopharmaceuticals Announces Appointment of Daniel W. Olmstead as Vice President, Payer Access
January 21 2014 - 8:30AM
Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX), a biopharmaceutical
company focused on the acquisition, development and
commercialization of medically important pharmaceutical products
for the treatment of renal disease (the "Company"), today announced
the appointment of Daniel W. Olmstead to the newly created position
of Vice President, Payer Access. In this role, Mr. Olmstead will
lead the Company's strategic global market access, managed care and
reimbursement initiatives.
Mr. Olmstead brings more than 25 years of healthcare experience,
with the majority of this time spent in a variety of managed market
roles, including reimbursement access, contracting, and product
launch planning and execution. Prior to joining the Company, Mr.
Olmstead was a National Account Director for Walgreen Co.
(NYSE:WAG), where he represented all Walgreens business units with
Express Scripts, its largest volume retail client. Prior to joining
Walgreens in 2012, Mr. Olmstead spent more than 7 years with
Genzyme/Sanofi, ultimately rising to Senior Director, Corporate
Accounts. During his tenure at Genzyme/Sanofi, Mr. Olmstead served
in roles of increasing responsibility within the Renal Division,
including coverage of key national and regional health plans,
managed markets product launch planning, and playing an integral
role in establishing Renal pricing and contracting strategies for
Renagel®/Renvela®, Hectorol® and other products. Mr. Olmstead
received his Bachelor's degree from the University of Michigan, Ann
Arbor.
Daniel P. Regan, a member of Keryx's Board of Directors, and
formerly Global General Manager, Senior Vice President of the Renal
Franchise at Genzyme/Sanofi, commented, "Having worked with Dan at
Genzyme/Sanofi for several years, I believe that he will be a
tremendous asset to the Company at this critical juncture. Dan is a
consummate professional and I believe that his breadth of
experience, particularly in the Renal space, will help the Company
develop and implement sound pricing, market access and
reimbursement approaches globally to achieve commercial
success."
Ron Bentsur, Keryx's Chief Executive Officer, said, "We are
excited to welcome Dan to the Company and we look forward to
leveraging his expertise as we prepare for the potential launch of
Zerenex."
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals is focused on the acquisition,
development and commercialization of medically important
pharmaceutical products for the treatment of renal disease. Keryx
is developing ZerenexTM (ferric citrate coordination complex), an
oral, ferric iron-based compound. Keryx has completed a U.S.-based
Phase 3 clinical program for Zerenex for the treatment of
hyperphosphatemia (elevated phosphate levels) in patients with
chronic kidney disease (CKD) on dialysis, conducted pursuant to a
Special Protocol Assessment (SPA) agreement with the Food and Drug
Administration (FDA). The Company's New Drug Application (NDA) is
currently under review by the FDA with an assigned Prescription
Drug User Fee Act (PDUFA) goal date of June 7, 2014. The Marketing
Authorization Application (MAA) filing with the European Medicines
Agency (EMA) is pending. The Company is also developing Zerenex in
the U.S. for the treatment of iron deficiency anemia and management
of elevated phosphorus in patients with Stage 3 to 5 non-dialysis
dependent CKD.
In addition, Keryx's Japanese partner, Japan Tobacco Inc. (JT)
and Torii Pharmaceutical Co., Ltd. (Torii), has received
manufacturing and marketing approval of ferric citrate from the
Japanese Ministry of Health, Labour and Welfare. Ferric citrate, to
be marketed in Japan by JT's subsidiary, Torii, under the brand
name Riona®, is indicated as an oral treatment for the improvement
of hyperphosphatemia in patients with CKD, including dialysis and
non-dialysis dependent CKD.
Keryx is headquartered in New York City.
Cautionary Statement
Some of the statements included in this press release,
particularly those relating to the commercial opportunity,
competitive positioning, and business prospects for Zerenex, may be
forward-looking statements that involve a number of risks and
uncertainties. For those statements, we claim the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Among the factors that
could cause our actual results to differ materially are the
following: acceptance of the NDA filing represents only a
preliminary evaluation of the application and is not indicative of
deficiencies that may be identified during the FDA's review; a
PDUFA goal date is subject to change and does not guarantee that
the review of the NDA will be completed on a timely basis; the risk
that the FDA and/or EMA ultimately deny approval of the U.S. NDA
and/or MAA, respectively; the risk that SPAs are not a guarantee
that the FDA will ultimately approve a product candidate following
filing acceptance; whether the FDA and EMA will concur with our
interpretation of our Phase 3 study results, supportive data, or
the conduct of the studies; whether, Zerenex, if approved, will be
successfully launched and marketed; and other risk factors
identified from time to time in our reports filed with the
Securities and Exchange Commission. Any forward-looking statements
set forth in this press release speak only as of the date of this
press release. We do not undertake to update any of these
forward-looking statements to reflect events or circumstances that
occur after the date hereof. This press release and prior releases
are available at http://www.keryx.com. The information found on our
website is not incorporated by reference into this press release
and is included for reference purposes only.
CONTACT: KERYX CONTACT:
Lauren Fischer
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
Tel: 212.531.5965
E-mail: lfischer@keryx.com
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