Eurand Names Former Solvay Pharmaceuticals, Inc. Executive Jean-Louis Anspach President of U.S. Pharmaceuticals Business
AMSTERDAM, THE NETHERLANDS--(Marketwire - June 16, 2010) - Eurand N.V. (NASDAQ: EURX), a global specialty pharmaceutical company, today announced the appointment of Jean-Louis Anspach as President, Eurand Pharmaceuticals, Inc. (EPI). Anspach is a 25-year veteran of the specialty pharmaceutical and chemical industries and was most recently Executive Vice President, Marketing at Solvay Pharmaceuticals, Inc. (acquired by Abbott Laboratories in February 2010). He will be based at EPI's commercial headquarters in Yardley, Pa.
"We are delighted to welcome Jean-Louis to the Eurand team," said Gearóid Faherty, Chairman and Chief Executive Officer. "He combines strong managerial and leadership skills with a broad background in the specialty pharmaceutical sector that includes several successful product launches, most recently the FDA-approved formulation of another pancreatic enzyme product (PEP), Creon®. We believe his expertise and experience in developing and executing effective, impactful business plans and marketing strategies will serve Eurand well both for the ongoing launch of ZENPEP® -- particularly at this time when only two FDA-approved PEPs are on the market -- and for the future of our U.S. commercial operations."
"This is an exciting time to join Eurand, with ZENPEP's growth accelerating," Anspach said. "Achieving approximately 10% share of the pancreatic enzyme market just six months after launch is impressive and indicative of the potential of this franchise. I look forward to assuming leadership of the ZENPEP commercial efforts and helping the Company build a successful branded specialty pharmaceuticals business in the U.S."
Prior to joining Eurand, Anspach served as Executive Vice President, Marketing for Solvay Pharmaceuticals, Inc. In this role, he successfully led the development and execution of business plans for the cardio-metabolic, neuroscience, gastroenterology, women's health and specialized markets franchises. His 25-year career at Solvay included positions of increasing scope and responsibility in general management, marketing, sales, business development, investor relations and corporate finance.
Anspach received his "Ingenieur Commercial" degree from the Universite Libre de Bruxelles (Belgium) and his MBA from the University of Wisconsin-Madison.
Eurand also announced that Michael Walters, Executive Vice President, Sales and Marketing, has resigned to pursue other opportunities. Walters joined Eurand in December 2007 as part of the acquisition of Source CF, a specialized pharmaceutical company focused on the needs of cystic fibrosis patients, physicians and caregivers.
"We are grateful for Mike's many contributions to Eurand, most notably his leadership role in the establishment of our commercial operations in the U.S.," said Faherty. "We wish him all the best in his future endeavors."
Eurand is a specialty pharmaceutical company that develops, manufactures and commercializes enhanced pharmaceutical and biopharmaceutical products based on its proprietary pharmaceutical technologies. Eurand has had six products approved by the FDA since 2001 and has a pipeline of product candidates in development for itself and its collaboration partners. Its technology platforms include bioavailability enhancement of poorly soluble drugs, custom release profiles and taste-masking orally disintegrating tablet (ODT) formulations. Eurand is a global company with facilities in the U.S. and Europe. For more information, visit www.eurand.com.
This release and oral statements made with respect to information contained in this release, including statements about the market potential of ZENPEP, constitute forward-looking statements. Such forward-looking statements include those which express plan, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact. The words "expects," "potentially," "anticipates," "could," "calls for" and similar expressions also identify forward-looking statements. These statements are based upon management's current expectations and are subject to risks and uncertainties, known and unknown, which could cause actual results and developments to differ materially from those expressed or implied in such statements. Factors that could affect actual results include risks associated with our ability to market, commercialize and achieve market acceptance for ZENPEP or to develop or partner any of our other products. A non-exclusive list of important factors that may affect future results may be found in Eurand's filings with the Securities and Exchange Commission, including its annual report on Form 20-F and periodic reports on Form 6-K. Investors should evaluate any statement in light of these important factors. Forward-looking statements contained in this press release are made as of this date, and we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Actual events could differ materially from those anticipated in the forward-looking statements.
Creon® is a registered trademark of Abbott Laboratories.
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