Portola Pharmaceuticals Names Scott Garland President and Chief Executive Officer
September 20 2018 - 8:30AM
– Relypsa president and former Exelixis
chief commercial officer brings significant commercial and
operational expertise –
Portola Pharmaceuticals, Inc.® (Nasdaq: PTLA) today announced the
appointment of industry veteran Scott Garland as president and
chief executive officer, effective October 8, 2018. Mr. Garland
brings to his new role more than two decades of broad executive
leadership experience, including a strong track record driving
multiple billion dollar product launches. He will also serve on the
Company’s Board of Directors.
Mr. Garland joins Portola from Relypsa, Inc.,
where he was president and previously chief commercial
officer. During his tenure, Mr. Garland was responsible for
the integration and growth of the U.S. operations after Relypsa was
acquired by Vifor Pharma Group in 2016.
Prior to Relypsa, Mr. Garland was executive vice
president and chief commercial officer of Exelixis, Inc., where he
led global commercial operations and directed sales, marketing and
market access in the United States. Previously, Mr. Garland spent
close to a decade at Genentech leading full scale commercial
franchises for two multi-billion dollar therapies – Avastin®
(bevacizumab) and Rituxan® (rituximab). He started his career at
Merck as a sales representative and then went on to serve at Amgen
in various sales and marketing roles, including market development,
to support the launch of Aranesp® (darbepoetin alfa).
Hollings C. Renton, Chairman of the Board, said:
“Scott is an exceptional choice to lead Portola through this
exciting period of commercial evolution. His leadership and
operational experience in hematology, oncology and hospital-based
products aligns with our portfolio, and I am confident he will help
realize the full potential of the Company’s life-changing
medicines, drive long-term growth to maximize shareholder value and
develop a best-in-class culture that will allow us to continue to
attract and retain top industry talent. We look forward to
introducing Scott during our third quarter conference call in early
November.”
Mr. Garland said: “This is a rare opportunity to
join a company with two FDA-approved medicines, a promising
compound in development and a financial position to support
long-term growth. I am excited to partner with such a committed
Board and leadership team to build on the Company’s current pace of
innovation and focus on execution to deliver potentially
life-saving therapies to patients.”
Mr. Garland holds an M.B.A. from the Fuqua
School of Business at Duke University and a Bachelor of Science
degree in biological sciences from California Polytechnic State
University, San Luis Obispo. He has been a member of the Board of
Directors of Karyopharm Therapeutics since 2014.
About Portola Pharmaceuticals,
Inc.Portola Pharmaceuticals is a commercial-stage
biopharmaceutical company focused on the discovery, development and
commercialization of novel therapeutics that could significantly
advance the fields of thrombosis and other hematologic diseases.
The Company’s two FDA-approved medicines are Andexxa®
[coagulation factor Xa (recombinant), inactivated-zhzo], the first
and only antidote for patients treated with rivaroxaban and
apixaban when reversal of anticoagulation is needed due to
life-threatening or uncontrolled bleeding, and
Bevyxxa® (betrixaban), the first and only oral, once-daily
Factor Xa inhibitor for the prevention of VTE in adult patients
hospitalized for an acute medical illness. The company also is
advancing cerdulatinib, a Syk/JAK inhibitor for the treatment of
hematologic cancers.
Forward-Looking
StatementsStatements contained in this press release
regarding matters that are not historical facts are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Because such statements
are subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Such statements include, but are not limited to,
statements regarding the growth potential for Portola and potential
of Portola’s products and product candidates, Portola’s ability to
attract and retain top industry talent, and Portola’s financial
position. Risks that contribute to the uncertain nature of the
forward-looking statements include: the risk that physicians,
patients and payers may not see the benefits of utilizing Andexxa
or Bevyxxa for the indications which they are approved; our ability
to continue to manufacture our products and to expand approved
manufacturing facilities; the possibility of unfavorable results
from additional clinical trials involving Andexxa; the risk that
the EMA may not approve Andexxa in the currently anticipated
timelines or at all, and that any marketing approvals or
reimbursement limitations may have significant limitations on its
use; the risk that Portola may not obtain additional regulatory
approvals necessary to expand approved indications for Andexxa; our
expectation that we will incur losses for the foreseeable future
and will need additional funds to finance our operations; the
accuracy of our estimates regarding expenses and capital
requirements; our ability to successfully build a hospital-based
sales force and commercial infrastructure; our ability to obtain
and maintain intellectual property protection for our product
candidates; and our ability to retain key scientific or management
personnel. These and other risks and uncertainties are described
more fully in our most recent filings with the Securities and
Exchange Commission, including our most recent quarterly report on
Form 10-Q. All forward-looking statements contained in this press
release speak only as of the date on which they were made. We
undertake no obligation to update such statements to reflect events
that occur or circumstances that exist after the date on which they
were made.
Investor
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Media
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Cara Miller |
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Patrick Ryan |
Portola
Pharmaceuticals |
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Pure
Communications |
ir@portola.com |
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pryan@purecommunications.com |
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