MADISON, Wis., March 20, 2018 /PRNewswire/ -- Exact Sciences
Corp. (Nasdaq: EXAS), the company that developed and commercialized
Cologuard®, the only FDA-approved, noninvasive stool
DNA-based test for early detection of colorectal cancer, today
announced that Mark Stenhouse has
been appointed to the new role of president, Cologuard. Stenhouse,
vice president, U.S. Immunology at AbbVie, will assume this new
position on April 2, 2018.
"More than 85 million people are eligible to be screened with
Cologuard, and Mark brings the experience and passion to help us
reach further into this enormous population," said Kevin Conroy, chairman and CEO of Exact
Sciences. "Mark's track record launching and guiding a product to
blockbuster status, and his experience within the field of
gastrointestinal diseases, makes him the ideal leader to amplify
our early success after launching Cologuard."
At Abbott Laboratories/AbbVie, Stenhouse leads the sales and
marketing teams for one of the most successful pharmaceutical
products, the anti-inflammatory drug HUMIRA®. The
top-selling drug in the United
States for the fifth straight year, it generated
$18.4 billion in worldwide net
revenue and accounted for 65 percent of AbbVie's total net revenue
in 2017.
"The story of Exact Sciences and the science powering Cologuard
are incredibly compelling, which is why I'm enthusiastic about
accepting this opportunity," Stenhouse said. "There's nothing more
important to me than leading a team of smart people who engage
collaboratively and lean in to their mission. I view this as an
opportunity to take a highly innovative screening test that fills
an unmet healthcare need, and which has already undergone the most
successful launch of any diagnostic product in history, to the next
level. Exact Sciences truly captures it all – the highest quality
science, committed people, and the value its products offer."
Stenhouse spent nearly 30 years at Abbott Laboratories/AbbVie,
where he was first hired for a field sales position. He steadily
worked his way through product management and sales management to
become national sales director in the U.S.
Immunology-Gastroenterology franchise. From there, he rose to
marketing director, followed by senior director of commercial
initiatives. In 2010, Stenhouse was appointed a general manager
within the company before being promoted to vice president. He
earned a Bachelor of Science in business administration from
College of Charleston.
About Cologuard
Cologuard was approved by the FDA in
August 2014 and results from Exact
Sciences' prospective 90-site, point-in-time, 10,000-patient
pivotal trial were published in the New England Journal of Medicine
in March 2014. Cologuard is included
in the American Cancer Society's (2014) colorectal cancer screening
guidelines and the recommendations of the U.S. Preventive Services
Task Force (2016) and National Comprehensive Cancer Network (2016).
Cologuard is indicated to screen adults of either sex, 50 years or
older, who are at average risk for colorectal cancer. Cologuard is
not for everyone and is not a replacement for diagnostic
colonoscopy or surveillance colonoscopy in high-risk individuals.
False positives and false negatives do occur. Any positive test
result should be followed by a diagnostic colonoscopy. Following a
negative result, patients should continue participating in a
screening program at an interval and with a method appropriate for
the individual patient. Cologuard performance when used for repeat
testing has not been evaluated or established. For more information
about Cologuard, visit www.cologuardtest.com. Rx Only.
About Exact Sciences Corp.
Exact Sciences
Corp. is a molecular diagnostics company focused on the early
detection and prevention of the deadliest forms of cancer. The
company has exclusive intellectual property protecting its
non-invasive, molecular screening technology for the detection of
colorectal cancer. For more information, please visit the company's
website at www.exactsciences.com, follow Exact
Sciences on Twitter @ExactSciences or find Exact
Sciences on Facebook.
Safe Harbor Statement
This news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that are intended to
be covered by the "safe harbor" created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe our future plans, strategies and expectations, can
generally be identified by the use of forward-looking terms such as
"believe," "expect," "may," "will," "should," "would," "could,"
"seek," "intend," "plan," "goal," "project," "estimate,"
"anticipate" or other comparable terms. All statements other than
statements of historical facts included in this news release
regarding our strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Examples of forward-looking statements include, among
others, statements we make regarding expected future operating
results, anticipated results of our sales and marketing efforts,
expectations concerning payer reimbursement and the anticipated
results of our product development efforts. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of our
control. Our actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include, among others, the
following: our ability to successfully and profitably market our
products and services; the acceptance of our products and services
by patients and healthcare providers; our ability to meet demand
for our products and services; the willingness of health insurance
companies and other payers to cover Cologuard and adequately
reimburse us for our performance of the Cologuard test; the amount
and nature of competition from other cancer screening and
diagnostic products and services; the effects of the adoption,
modification or repeal of any healthcare reform law, rule, order,
interpretation or policy; the effects of changes in pricing,
coverage and reimbursement for our products and services, including
without limitation as a result of the Protecting Access to Medicare
Act of 2014; recommendations, guidelines and quality metrics issued
by various organizations such as the U.S. Preventive Services Task
Force, the American Cancer Society, and the National Committee for
Quality Assurance regarding cancer screening or our products and
services; our ability to successfully develop new products and
services; our success establishing and maintaining collaborative,
licensing and supplier arrangements; our ability to maintain
regulatory approvals and comply with applicable regulations; and
the other risks and uncertainties described in the Risk Factors and
in Management's Discussion and Analysis of Financial Condition and
Results of Operations sections of our most recently filed Annual
Report on Form 10-K and our subsequently filed Quarterly Reports on
Form 10-Q. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Exact Sciences Corp
Contact: J.P. Fielder
+1 608-210-5220
jpfielder@exactsciences.com
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