Portola Pharmaceuticals Appoints Sheldon Koenig as Chief Commercial Officer
SOUTH SAN FRANCISCO, Calif., (GLOBE NEWSWIRE) --Portola Pharmaceuticals Inc.® (Nasdaq: PTLA) today announced the appointment of Sheldon Koenig as executive vice president and chief commercial officer, effective immediately. Mr. Koenig brings to his new role more than three decades of global commercial leadership and operations experience. He will report to Scott Garland, president and chief executive officer, and will serve as a member of the Portola Executive Committee.
“With a tremendous track record building and leading strong commercial teams in the successful launch of hospital-based products and thrombotic medicines, Sheldon is uniquely qualified to take on this critical role,” said Mr. Garland. “I am confident in his ability to deliver on our goals for the launch of Andexxa, and we are pleased to add him to our talented leadership team.”
Prior to joining Portola, Mr. Koenig was senior vice president and head of the cardiovascular franchise for Sanofi where he led U.S. business operations and product launches in more than 20 countries. Previously, he served as vice president and global brand leader for the cardiovascular division of Merck & Co, Inc. where, for more than 25 years, he took on roles of increasing responsibility within the Company’s cardiovascular and thrombosis franchises.
“We have the potential to make a profound impact on the lives of patients worldwide and I am pleased to have the opportunity to contribute to that mission,” said Mr. Koenig. “Given the rapid and increasing growth in the use of Factor Xa inhibitors, there is a clear and significant need for Andexxa. I look forward to working with the team to deliver on the ambitious goals we have set for Andexxa on behalf of patients.”
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.
Statements 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. 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.