GW Appoints Senior Industry Executive to President, North America and Relocates CEO to the U.S.
May 19 2015 - 7:00AM
GW Pharmaceuticals plc (Nasdaq:GWPH) (AIM:GWP) ("GW," "the Company"
or "the Group"), a biopharmaceutical company focused on
discovering, developing and commercializing novel therapeutics from
its proprietary cannabinoid product platform, announced that the
Company has appointed Julian Gangolli as President, North America
and is also relocating its Chief Executive Officer, Justin Gover,
to the United States.
Mr. Gangolli was, from 2004 until April 2015, President of the
North American Pharmaceutical division of Allergan Inc, with
responsibility for a 1,400-person integrated commercial operation
with sales exceeding $3.8 billion in 2014. As a Corporate Vice
President and member of the Executive Committee, Allergan's most
senior leadership team overseeing worldwide operations, Mr.
Gangolli was an integral part of the executive management team that
transformed Allergan into one of the leading specialty
pharmaceutical companies in the U.S. Mr. Gangolli will join GW in
June and is expected to be appointed to the Company's Board of
Directors.
Dr. Geoffrey Guy, GW's Chairman stated, "As Epidiolex® nears its
final stages of clinical development and as GW prepares for future
U.S. launch, the time is right to start building our in-house U.S.
commercial infrastructure. Julian's deep experience at building and
running a major U.S. pharmaceutical business built on specialty
products will be complemented by the relocation of Justin to the
U.S. with his intimate knowledge of GW, its products and pipeline.
Together, they will spearhead GW's growth in the U.S. and help to
bring much needed new treatments to patients."
"I am very excited about building a meaningful commercial
presence in the U.S. for GW. As exemplified by Epidiolex, a
potentially important new treatment in the field of pediatric
epilepsy, GW's products, if approved, offer the prospect of making
a meaningful difference to patients' lives," said Mr. Gangolli. "I
wish to bring my experience of building a successful business for
Allergan to GW and look forward to working with Justin and the
entire GW team to optimise the Company's prospects in this key
market."
GW will locate its U.S. operation in Southern California where
Mr. Gangolli and Mr. Gover will be based. GW is also continuing to
expand its UK manufacturing and R&D operations in preparation
for future commercialization as well as pipeline development. GW
currently employs 325 staff in the UK, up from 190 two years
ago.
As President, North America Pharmaceuticals, Mr. Gangolli's
responsibilities represented over 50% of Allergan's revenue, 60% of
its profit, and over 60% of its year-on-year profit growth. He was
responsible for four business units supporting each of the
specialty areas of Ophthalmology/Optometry (Eye Care),
Neurosciences, Urology and Medical Dermatology for the U.S. and
Canada, each of which are considered category leaders in their
respective therapeutic areas. In addition to his commercial
responsibilities, Mr. Gangolli had responsibility for strategic
planning, business development, research and product development
planning for the North American division. Prior to his role as
President, North America, Mr. Gangolli was Senior Vice President,
U.S. Eye Care, at Allergan from 1998 to 2004. Allergan's Eye Care
business unit has grown from $150 million in 1998 to over $2.3
billion in 2014 and is considered the leading ophthalmic
pharmaceutical company ranked by quality and service with U.S.
ophthalmologists. Prior to Allergan, Mr. Gangolli was Vice
President, Sales and Marketing at VIVUS, Inc. where he established
from inception a fully functioning commercial operation. Prior to
VIVUS, Mr. Gangolli held roles at Syntex Pharmaceuticals, Inc. and
Ortho-Cilag Pharmaceuticals Ltd. in the UK. He grew up and was
educated in the UK and is a U.S. citizen.
About GW Pharmaceuticals plc
Founded in 1998, GW is a biopharmaceutical company focused on
discovering, developing and commercializing novel therapeutics from
its proprietary cannabinoid product platform in a broad range of
disease areas. GW commercialized the world's first plant-derived
cannabinoid prescription drug, Sativex®, which is approved for the
treatment of spasticity due to multiple sclerosis in 27 countries
outside the United States. GW is advancing an orphan drug program
in the field of childhood epilepsy with a focus on Epidiolex®,
which is in Phase 3 clinical development for the treatment of
Dravet syndrome and Lennox-Gastaut syndrome and which is also
expected to enter Phase 3 clinical trials in the treatment of
Tuberous Sclerosis Complex. GW has a deep pipeline of additional
cannabinoid product candidates which includes Sativex in Phase 3
clinical development as a potential treatment of pain associated
with advanced cancer, as well as compounds in Phase 1 and 2 trials
for glioma, type 2 diabetes, and schizophrenia. For further
information, please visit www.gwpharm.com.
Forward-looking statements
This news release may contain forward-looking statements that
reflect GW's current expectations regarding future events,
including statements regarding personnel changes, plans for the
development and commercialization of GW products including
Epidiolex®, plans and objectives for product development, plans and
objectives for present and future clinical trials and results of
such trials, plans and objectives for regulatory approval.
Forward-looking statements involve risks and uncertainties. Actual
events could differ materially from those projected herein and
depend on a number of factors, including (inter alia), the success
of the GW's research strategies, the applicability of the
discoveries made therein, the successful and timely completion of
uncertainties related to the regulatory process, and the acceptance
of Sativex®, Epidiolex®, and other products by consumer and medical
professionals. A further list and description of risks,
uncertainties and other risks associated with an investment in GW
can be found in GW's filings with the U.S. Securities and Exchange
Commission. Existing and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. GW undertakes no obligation to
update or revise the information contained in this press release,
whether as a result of new information, future events or
circumstances or otherwise.
CONTACT: Enquiries:
GW Pharmaceuticals plc
(Today) +44 20 3727 1000
Stephen Schultz, VP Investor Relations (U.S.)
917 280 2424 / 401 500 6570
FTI Consulting (Media Enquiries)
Ben Atwell / Simon Conway / John Dineen (UK)
+ 44 20 3727 1000
Robert Stanislaro (U.S.)
212 850 5657
Trout Group, LLC (U.S. investor relations)
Todd James / Chad Rubin
646 378 2900
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