Norman C. Payson, M.D., Elected to Board of Directors of Idenix Pharmaceuticals
December 07 2006 - 8:30AM
PR Newswire (US)
CAMBRIDGE, Mass., Dec. 7 /PRNewswire-FirstCall/ -- Idenix
Pharmaceuticals, Inc. (NASDAQ:IDIX), a biopharmaceutical company
engaged in the discovery, development and commercialization of
drugs for the treatment of human viral and other infectious
diseases, today announced Norman C. Payson, M.D., former chairman
and chief executive officer of Oxford Health Plans, has been
elected to the company's Board of Directors, effective immediately.
Dr. Payson has more than 30 years of experience in the health care
industry, currently as chairman of the board at Concentra Inc.
Prior to joining the board of directors at Concentra in 2005, Dr.
Payson served as the chairman and chief executive officer at Oxford
Health Plans from 1998 to 2002 where he led Oxford's successful
turnaround. Dr. Payson was also co-founder and chief executive
officer of Healthsource, Inc., from 1985 to 1997 where, from its
inception in 1985 through its initial public offering in 1989, he
grew Healthsource to be one of the nation's largest health plans.
"As we commercialize our first product, we believe that Dr.
Payson's insight into the managed care industry will be a valuable
addition to the Idenix Board," said Jean-Pierre Sommadossi,
chairman and chief executive officer of Idenix. "Dr. Payson brings
a wealth of knowledge and extensive leadership experience with him
to this role and we are pleased to have him join us as we continue
to grow." Dr. Payson received his M.D. at Dartmouth Medical School
after graduating from the Massachusetts Institute of Technology
(MIT). Dr. Payson is also a member of various advisory councils and
committees, including serving as past chairman of the American
Health Insurance Plans committee on readiness (bioterrorism)
post-9/11 and co-chairman on its committee on Medicare. Dr. Payson
is also a graduate student lecturer at the Center for Evaluative
Clinical Sciences at Dartmouth Medical School, the Tuck School at
Dartmouth, the Columbia University School of Public Health, the
Sloan School at MIT and the University of Chicago Graduate School
of Business. About Idenix Idenix Pharmaceuticals, Inc.,
headquartered in Cambridge, Massachusetts, is a biopharmaceutical
company engaged in the discovery, development and commercialization
of drugs for the treatment of human viral and other infectious
diseases. Idenix's current focus is on the treatment of infections
caused by hepatitis B virus, hepatitis C virus and human
immunodeficiency virus (HIV). For further information about Idenix,
please refer to http://www.idenix.com/. Forward-looking Statements
This press release contains "forward-looking statements" within the
meaning of The Private Securities Litigation Reform Act of 1995.
Such forward- looking statements can be identified by the use of
forward-looking terminology such as "will be," "seek to," "evolve"
or similar expressions and implied statements with respect to the
potential evolution of Idenix from a research and development
organization to a fully integrated pharmaceutical company and Dr.
Payson's anticipated contributions to Idenix. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results to be materially different
from any future results, performance or achievements expressed or
implied by such statements. There can be no guarantees that Idenix
will successfully evolve from a research and development
organization to a fully integrated pharmaceutical company or that
the company's new director will assist in a meaningful way in those
efforts. Management's expectations could be affected by unexpected
regulatory actions or delays with respect to the regulatory review
of pending marketing applications for telbivudine, or government
regulation generally; uncertainties relating to results of clinical
trials, including additional data relating to ongoing clinical
trials evaluating its product candidates; the company's ability to
obtain additional funding required to conduct its research,
development and commercialization activities; the company's
dependence on its collaboration with Novartis Pharma AG; the
ability of the company to attract and retain qualified personnel;
competition in general; and the company's ability to obtain,
maintain and enforce patent and other intellectual property
protection for its other product candidates and its discoveries.
These and other risks which may impact management's expectations
are described in greater detail under the caption "Risk Factors" in
the company's quarterly report on Form 10-Q for the quarter ended
September 30, 2006 and filed with the Securities and Exchange
Commission and other filings that the company makes with the
Securities and Exchange Commission. All forward-looking statements
reflect the company's expectations only as of the date of this
release and should not be relied upon as reflecting the company's
views, expectations or beliefs at any date subsequent to the date
of this release. Idenix anticipates that subsequent events and
developments may cause these views, expectations and beliefs to
change. However, while Idenix may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. Contact: Idenix
Pharmaceuticals, Inc. Media: Teri Dahlman (617) 995-9905 Investors:
Amy Sullivan (617) 995-9838 DATASOURCE: Idenix Pharmaceuticals,
Inc. CONTACT: media, Teri Dahlman, +1-617-995-9905, or investors,
Amy Sullivan +1-617-995-9838, both of Idenix Pharmaceuticals, Inc.
Web site: http://www.idenix.com/
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