WAYNE, Pa., April 10, 2017 /PRNewswire/ -- Egalet
Corporation (Nasdaq: EGLT) ("Egalet"), a fully integrated
specialty pharmaceutical company focused on developing,
manufacturing and commercializing innovative treatments for pain
and other conditions, today announced that Jean-Francois Formela, MD has resigned from
Egalet's board of directors. Andrea Heslin
Smiley, chief executive officer of VMS BioMarketing, will
take Dr. Formela's board seat and Elaine
Hochberg, former chief commercial officer for Forest
Laboratories, has been added to the board.
Dr. Formela has served on the board of directors since 2010 and
was chairman of the board from 2012 to 2015.
"We're thankful to Jean-Francois for his exceptional dedication
and service to Egalet as we grew from a development stage company
to a commercial business," said Bob
Radie, Egalet's president and chief executive officer. "Now
with three marketed products, Elaine's commercial expertise and
Andrea's entrepreneurial spirit and business acumen should greatly
benefit us as we focus on commercial execution and moving toward
sustainability."
Ms. Smiley has served as president and chief executive officer
of VMS BioMarketing since 2011. Ms. Smiley spent 18 years in the
pharmaceutical industry leading multiple business units in the
development and execution of biotech, device, and pharmaceutical
product strategies to drive brand equity, increase market share,
and improve patient adherence. Her diverse biotech and
pharmaceutical experiences span a wide range of disease areas and
functional roles including launching multiple biotech and
pharmaceutical drugs and devices. Ms. Smiley has served on the
board of numerous organizations including the Indiana Alzheimer's
Association, Indiana Salvation Army, and the Lung Force Women's
Cabinet, and she received a gubernatorial appointment to the
Indiana Commission for Women. She
earned her BA in economics from DePauw
University where she was an Honors Management
Fellow.
Ms. Hochberg has more than 30 years of leadership experience.
Currently she is a managing partner of Elaran LLC, a business
strategy and management firm. Previously, Ms. Hochberg worked for
Forest Laboratories where, over 17 years, she rose through several
positions to become the company's first chief commercial officer.
At Forest, Ms. Hochberg was
responsible for the US sales and marketing organization and drove
the commercial strategy and implementation for the company's full
range of products in multiple therapeutic areas, including
specialty products. She also headed Forest's International Business which included
both prescription and over-the-counter (OTC) brands. During her
tenure, Ms. Hochberg helped transform Forest into a major mid-cap branded
pharmaceutical company which lead to the company's acquisition by
Actavis for $24 billion. Prior to
Forest, she was at Wyeth-Ayerst
Laboratories and held product and marketing leadership roles in the
pediatric and vaccines divisions. She serves on the board of Akcea
Therapeutics and on several non-profit boards in New York
City. Ms. Hochberg earned her BA and MBA from Columbia University.
About Egalet
Egalet, a fully integrated specialty pharmaceutical company, is
focused on developing, manufacturing and commercializing innovative
treatments for pain and other conditions. Egalet has three approved
products: ARYMO™ ER (morphine sulfate) extended-release tablets for
oral use only –CII, developed using Egalet's proprietary Guardian™
Technology, OXAYDO® (oxycodone HCI, USP) tablets for
oral use only –CII and SPRIX® (ketorolac tromethamine)
Nasal Spray. Using Guardian Technology Egalet is developing a
pipeline of clinical-stage, product candidates including
Egalet-002, an abuse-deterrent, extended-release, oral oxycodone
formulation 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. 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 full prescribing information on
ARYMO ER, including the boxed warning and medication guide, please
visit arymoer.com. For full prescribing information on SPRIX,
including the boxed warning and medication guide, please visit
sprix.com. For full prescribing information on OXAYDO, including
the boxed warning and medication guide, please visit oxaydo.com.
For additional information on Egalet, please visit
egalet.com.
Safe Harbor
Statements included in this press release (including but not
limited to upcoming milestones) that are not historical in nature
and contain the words "anticipate," "believe," "estimate,"
"expect," "intend," "may," "plan," "predict," "project," "suggest,"
"target," "potential," "will," "would," "could," "should,"
"continue," "look forward to" and other similar expressions 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 Egalet's product candidates and the
labeling claims that Egalet believes are necessary or desirable for
successful commercialization of its products and product
candidates; Egalet's ability to maintain the intellectual property
position of Egalet's products and product candidates; Egalet's
ability to identify and reliance upon qualified third parties to
manufacture its products; Egalet's ability to commercialize its
products, and to do so successfully; the costs of commercialization
activities, including marketing, sales and distribution; the size
and growth potential of the markets for Egalet's products and
product candidates, and Egalet's ability to service those markets;
Egalet's ability to obtain reimbursement and third-party payor
contracts for its products; Egalet's ability to service its debt
obligations; Egalet's ability to raise additional funds to execute
its business plan and growth strategy on terms acceptable to
Egalet, if at all; Egalet's ability to find and hire qualified
sales professionals; the rate and degree of receptivity in the
marketplace and among physicians to Egalet's products; the success
of products that compete with Egalet's that are or become
available; general market conditions; and other risk factors set
forth in Egalet's Annual Report on Form 10-K and Quarterly Reports
on Form 10-Q filed with the United States Securities and Exchange
Commission (SEC) and in other filings Egalet makes with the SEC
from time to time. While Egalet may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any 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.
Investor and Media Contact:
E. Blair Clark-Schoeb
Senior Vice President, Communications
Email: bcs@egalet.com
Tel: 917-432-9275
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SOURCE Egalet Corporation