GANIC Pharmaceuticals Launched with Premier Pharmaceutical Industry Executives
Published: Jun 18, 2008
BRIDGEWATER, N.J. and NEW YORK, June 18 /PRNewswire/ -- GANIC Pharmaceuticals, a new specialty pharmaceutical company, today announced its launch backed by Warburg Pincus, the leading global private equity firm. Warburg Pincus has made an initial investment in GANIC from Warburg Pincus Private Equity X, L.P., a $15 billion fund, which closed in April.
GANIC Pharmaceuticals was founded by a highly seasoned group of senior executives with 65 years of collective experience in the pharmaceutical industry, in partnership with Warburg Pincus. The company's founders include Paul Edick, Chief Executive Officer, Chief Financial Officer Corey Fishman, and Chief Commercial Officer Chris Maltese, all formerly senior executives at MedPointe Pharmaceuticals.
Paul Edick, CEO of GANIC Pharmaceuticals, said, "We see tremendous opportunities for profitable growth and expansion across our targeted areas of focus. We believe that we have the expertise, industry networks, talent base and funding to begin executing towards our objectives. We are very pleased to have as our sole investor, Warburg Pincus, a firm with great insight and expertise in our arena, which shares our strategic vision to build a great company."
GANIC Pharmaceuticals will focus on building a substantial enterprise by acquiring revenue-generating companies, portfolios and/or products and by investing in innovation and acquiring pipeline development assets. GANIC plans to target certain specialty pharmaceutical areas.
Commenting on the investment, Jonathan S. Leff, a Managing Director of Warburg Pincus, stated, "We are delighted to partner with the GANIC team, which has a proven track record for delivering value to investors and the pharmaceutical marketplace. We are confident that their strategy and ability to execute effectively, when combined with our funding and strategic support, will enable them to build a substantial and important pharmaceutical company." In conjunction with this investment, Mr. Leff, Managing Director Stewart Hen and Principal Cecilia Gonzalo of Warburg Pincus will join GANIC Pharmaceuticals' board of directors.
About GANIC Pharmaceuticals
Based in New Jersey, GANIC Pharmaceuticals is a new specialty pharmaceutical company, founded by a highly seasoned group of senior executives with 65 years of collective experience in the pharmaceutical industry, in partnership with Warburg Pincus, a leading global private equity firm. The company is focused on building a fully-integrated pharmaceuticals enterprise focused on certain specialty areas.
About Warburg Pincus
Warburg Pincus has been a leading private equity investor since 1971. The firm currently has more than $35 billion of assets under management. Warburg Pincus' investments are focused on a range of sectors in North America, Europe and Asia, including financial services, healthcare, industrial, technology, media and telecommunications, energy, consumer and retail and real estate. Since inception, the firm has raised 12 private equity funds that have invested more than $31 billion in approximately 600 companies in more than 30 countries. The firm has invested $6.6 billion in healthcare-related companies around the world, including approximately $1.6 billion to help build nearly 40 biotechnology and pharmaceutical companies. The firm has an active global portfolio of more than 125 companies and offices in Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco, Shanghai and Tokyo. For more information, visit www.warburgpincus.com.
CONTACT: Business Inquiries, Corey Fishman of GANIC Pharmaceuticals, +1-
908-252-9404, email@example.com; or Media Inquiries, Todd Fogarty,
firstname.lastname@example.org or Joseph Kuo, email@example.com, both of Kekst and
Web site: http://www.warburgpincus.com/