NEWARK, Calif., July 8, 2013 /PRNewswire/ -- Depomed, Inc. (NASDAQ: DEPO) today announced the appointment of Louis J. Lavigne, Jr. to the company's Board of Directors, and to the Board's Audit Committee. Mr. Lavigne is the former Executive Vice President and Chief Financial Officer of Genentech.
"Lou is a highly skilled life sciences veteran with experience leading companies through extraordinary growth. His insight and breadth of expertise in strategy, finance and operations will be invaluable to Depomed as we continue to build the company and our specialty pharmaceutical business," said James Schoeneck, Depomed's President and CEO.
"I am excited to join Depomed's Board of Directors in the next key phase of the company's development and look forward to making a contribution to Depomed's growth," said Mr. Lavigne.
Mr. Lavigne is currently Managing Director of Lavrite, LLC, a management consulting firm specializing in the areas of corporate finance, accounting, growth strategy and management. He was Executive Vice President and Chief Financial Officer of Genentech, Inc. from 1997 through his retirement in 2005. He joined Genentech in 1982 and assumed the position of Chief Financial Officer in 1988. Mr. Lavigne currently serves on the boards of Allergan, Inc., BMC Software, Inc., Accuray Incorporated, Novocure Limited and SafeNet Inc. He is a member of Deloitte's Life Sciences Advisory Board.
Depomed, Inc. is a specialty pharmaceutical company with three approved and marketed products. Gralise® (gabapentin) is a once-daily treatment approved for the management of postherpetic neuralgia (PHN). Zipsor® (diclofenac potassium) Liquid Filled Capsules is a non-steroidal anti-inflammatory drug (NSAID) indicated for relief of mild to moderate acute pain in adults. Glumetza® (metformin hydrochloride extended release tablets) is approved for use in adults with type 2 diabetes and is commercialized by Santarus, Inc. in the United States. The company formulates its products and product candidates with its proven, proprietary Acuform® drug delivery technology, which is designed to improve existing oral medications, allowing for extended release of medications to the upper gastrointestinal tract when dosed with food. Additional information about Depomed may be found on its website, www.depomed.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties including, but not limited to, those related to the company's anticipated future growth, and other risks detailed in the company's Securities and Exchange Commission filings, including the company's Annual Report on Form 10-K for the year ended December 31, 2012 and its most recently Quarterly Report on Form 10-Q. The inclusion of forward-looking statements should not be regarded as a representation that any of the company's plans or objectives will be achieved. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
August J. Moretti