Acadia Scores Former Baxalta Exec as New CFO
Published: Aug 24, 2016
SAN DIEGO--(BUSINESS WIRE)--ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines that address unmet medical needs in central nervous system (CNS) disorders, today announced the appointment of Todd S. Young as Executive Vice President, Chief Financial Officer, effective August 22, 2016. Mr. Young reports to Steve Davis, ACADIA’s President and Chief Executive Officer.
“With the recent commercial launch of NUPLAZID, the company has entered an exciting new phase. I look forward to executing on ACADIA’s growth strategy and building long-term value for shareholders.”
“Todd is a seasoned leader with significant financial and operational experience in the biopharmaceutical industry,” said Steve Davis. “His proven finance and leadership skills will be key as we bring NUPLAZID™ (pimavanserin) to patients in need, seek to maximize the significant opportunities ahead for pimavanserin, and deliver on our vision of building a leading CNS company. We welcome Todd to our team and look forward to his contributions.”
Mr. Young joins ACADIA from Baxalta Incorporated, where he served as Senior Vice President and Treasurer and played an integral role as a business leader and in creating the initial capital structure of Baxalta. Baxalta was acquired by Shire in June 2016. Prior to the acquisition, Baxalta was a global biopharmaceutical company with $6 billion in revenue that was formed in July 2015 when Baxter International Inc. spun-out its biopharmaceutical division. Prior to Baxalta, Mr. Young worked for over 14 years at Baxter holding multiple leadership roles, including Corporate Vice President and Treasurer, Vice President, International Finance, and Vice President, Global Financial Planning and Analysis (FP&A). Mr. Young’s global FP&A team was responsible for driving Baxter’s budgeting, forecasting, and long-range financial planning. As finance leader for Baxter’s international operations, he led a team of 900 finance members and helped drive business results and strategic decision making for the company’s $8 billion international commercial operations.
Early in his career, Mr. Young practiced as a tax attorney at a major law firm. Mr. Young earned his Bachelor of Arts degree in Economics from Grinnell College and his Juris Doctor from the University of Michigan School of Law.
“I am thrilled to join ACADIA,” said Todd Young. “With the recent commercial launch of NUPLAZID, the company has entered an exciting new phase. I look forward to executing on ACADIA’s growth strategy and building long-term value for shareholders.”
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders. ACADIA maintains a website at www.acadia-pharm.com to which we regularly post copies of our press releases as well as additional information and through which interested parties can subscribe to receive e-mail alerts.
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements include but are not limited to statements related to ACADIA’s plans to bring NUPLAZID™ (pimavanserin) to patients in need, to maximize opportunities for pimavanserin, and to build a leading CNS company and shareholder value, as well as potential contributions of Mr. Young as ACADIA’s Executive Vice President, Chief Financial Officer. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug discovery, development, approval and commercialization, and in collaborations with others, and the fact that past results of clinical trials may not be indicative of future trial results. For a discussion of these and other factors, please refer to ACADIA’s annual report on Form 10-K for the year ended December 31, 2015 as well as ACADIA’s subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and ACADIA undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required by law.