-- Blair C. Jackson Appointed Chief Operating Officer
and Iain M. Brown Named Chief Financial Officer, Positioning
Company for Continued Strong Execution of Business Strategy
--
-- Newly Appointed COO and CFO Will Oversee
Implementation of Recently Announced Value Enhancement Plan
--
DUBLIN, Jan. 6, 2021 /PRNewswire/ -- Alkermes
plc (Nasdaq: ALKS), a fully integrated, global
biopharmaceutical company developing innovative medicines in the
fields of neuroscience and oncology, today announced a series of
changes to its executive leadership team. Blair C. Jackson has been appointed chief
operating officer (COO) and Iain M.
Brown will assume the role of chief financial officer (CFO),
replacing James M. Frates. Mr.
Frates will leave the company following a 20-year career at
Alkermes to pursue another opportunity.
"Alkermes is focused on executing on our business strategy,
including the implementation of our recently-announced Value
Enhancement Plan. I am pleased to have Blair and Iain assume these
key leadership roles at this pivotal time as we position the
company for our next stage of growth and advance our commitment to
delivering value to all of our stakeholders," said Richard Pops,
chairman and chief executive officer of Alkermes. "On behalf
of the entire Alkermes team, I want to thank Jim for his countless
contributions to the organization. Jim's dedication and commitment
to Alkermes and the disease areas we serve has been an inspiration
to us all. We are grateful for his leadership during his tenure and
wish him the best in his future endeavors."
Mr. Jackson will expand his current role as senior vice
president of corporate planning to become executive vice president
and COO, a newly created role which will oversee global operations,
quality, finance, information technology, and corporate planning.
Mr. Jackson has more than 20 years of experience in the
biopharmaceutical industry and has served in various positions in
both a scientific and corporate capacity at Alkermes. Mr. Jackson
received a Bachelor of Arts degree in Biochemistry from the
University of Calgary, a Bachelor of
Arts in Chemical Engineering and a Master of Business
Administration from the University of
Alberta, and a Master of Science in Chemical Engineering
from the Massachusetts Institute of
Technology.
Mr. Brown, currently senior vice president and chief accounting
officer, will assume full responsibility for the finance
organization in his new role as CFO with additional oversight of
the business planning, procurement and strategic sourcing
functions. Mr. Brown is a highly-accomplished finance professional
and Chartered Accountant with more than 24 years of experience in
the biopharmaceutical industry, with a strong track record in
operational finance and financial compliance. Mr. Brown received a
Bachelor of Science degree in Business Studies from the University
of Bradford, England.
"It has been a great privilege to be part of the Alkermes team
and I am incredibly proud of all that the organization has
accomplished," said Mr. Frates. "I depart with confidence knowing
that the organization is strong and well positioned to support its
fundamental mission of making a meaningful difference in the lives
of people living with serious mental illness, addiction and
cancer."
About Alkermes
Alkermes plc is a fully integrated,
global biopharmaceutical company developing innovative medicines in
the fields of neuroscience and oncology. The company has a
portfolio of proprietary commercial products focused on addiction
and schizophrenia, and a pipeline of product candidates in
development for schizophrenia, bipolar I disorder,
neurodegenerative disorders and cancer. Headquartered in
Dublin, Ireland, Alkermes plc has
an R&D center in Waltham,
Massachusetts; a research and manufacturing facility in
Athlone, Ireland; and a
manufacturing facility in Wilmington,
Ohio. For more information, please visit Alkermes' website
at www.alkermes.com.
Note Regarding Forward-Looking Statements
Certain
statements set forth in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended, including,
but not limited to, statements concerning: the company's
expectations concerning future financial and operating performance,
business plans or prospects, including the company's ability to
execute on its business strategy, position itself for growth and
deliver value to its stakeholders; and the potential therapeutic
and commercial value of the company's marketed and development
products focused on serious mental illness, addiction and cancer.
The company cautions that forward-looking statements are inherently
uncertain. Although the company believes that such statements are
based on reasonable assumptions within the bounds of its knowledge
of its business and operations, the forward-looking statements are
neither promises nor guarantees and they are necessarily subject to
a high degree of uncertainty and risk. Actual performance and
results may differ materially from those expressed or implied in
the forward-looking statements due to various risks and
uncertainties. These risks and uncertainties include, among others:
the cost structure review and optimization activities being
undertaken by the company may not yield the intended results; the
company may not be able to achieve its targeted financial metrics,
profitability or long-term value creation in a timely manner or at
all; the unfavorable outcome of litigation, including so-called
"Paragraph IV" litigation and other patent litigation, related
to any of the company's products or products using the company's
proprietary technologies, which may lead to competition from
generic drug manufacturers; clinical development activities may not
be completed on time or at all; the results of the company's
clinical development activities may not be positive, or predictive
of real-world results or of results in subsequent clinical trials;
regulatory submissions may not occur or be submitted in a timely
manner; the FDA or regulatory authorities outside the U.S. may make
adverse decisions regarding the company's products, such as
decisions not to approve the company's NDAs, including the NDA for
ALKS 3831; the company and its licensees may not be able to
continue to successfully commercialize their products; there may be
a reduction in payment rate or reimbursement for the company's
products or an increase in the company's financial obligations to
governmental payers; the company's products may prove difficult to
manufacture, be precluded from commercialization by the proprietary
rights of third parties, or have unintended side effects, adverse
reactions or incidents of misuse; the impacts of the ongoing
COVID-19 pandemic and continued efforts to mitigate its spread on
the company's business, results of operations or financial
condition; and those risks and uncertainties described under the
heading "Risk Factors" in the company's Annual Report on Form 10-K
for the year ended Dec. 31, 2019, the
company's Quarterly Report on Form 10-Q for the quarter ended
June 30, 2020 and in subsequent
filings made by the company with the U.S. Securities and Exchange
Commission ("SEC"), which are available on the SEC's website at
www.sec.gov. Existing and prospective investors are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. Except as required by law, the
company disclaims any intention or responsibility for updating or
revising any forward-looking statements contained in this press
release.
Alkermes
Contacts:
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|
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For
Investors:
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Sandy
Coombs
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+1 781 609
6377
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For Media:
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Katie
Joyce
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+1 781 609
6806
|
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