"I am proud of all that we at Sepracor have accomplished over the last 23 years. I look forward to strong contributions from Adrian as he assumes leadership of the company," said Mr. Barberich. "I believe that his wealth of experience in the pharmaceutical industry, combined with his energy and vision will be great assets in enabling Sepracor's future growth and success."
Mr. Adams joined Sepracor on March 1, 2007. Prior to joining the company, he was President and Chief Executive Officer of Kos Pharmaceuticals, Inc. from 2002 until the acquisition of the company by Abbott Laboratories in December 2006 for $3.7 billion. During his tenure he increased revenues ten-fold and led the transformation of Kos into a fully integrated and profitable pharmaceutical company with annual revenues approaching one billion dollars and strong positions in the cardiovascular and respiratory disease areas. Mr. Adams has over 30 years of experience in both specialty and large pharmaceutical organizations that, in addition to Kos, included careers with ICI, SmithKline Beecham and Novartis, and involved work and product launches in many therapeutic areas. Mr. Adams has a broad background encompassing research and development, sales, international and national product marketing, business development and extensive general management experience.
"To me, Sepracor represents a truly remarkable and successful company in the highly competitive pharmaceutical industry," said Mr. Adams. "Under Tim's strong leadership, Sepracor grew from an idea into a fully integrated research-based company with approximately $1.2 billion in revenues last year and more than 2,500 employees. His vision and achievements have made Sepracor what it is today, and I am delighted and honored to be appointed his successor. I am excited about the opportunity, and I am pleased to be in a position to lead and build Sepracor into its next phase, which I anticipate will be a period of innovation, growth and continued success."
About Sepracor
Sepracor Inc. is a research-based pharmaceutical company dedicated to treating and preventing human disease by discovering, developing and commercializing innovative pharmaceutical products that are directed toward serving unmet medical needs. Sepracor's drug development program has yielded a portfolio of pharmaceutical products and candidates with a focus on respiratory and central nervous system disorders. Sepracor's corporate headquarters are located in Marlborough, Massachusetts.
Forward-Looking Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements with respect to Sepracor's expected innovations, growth and continued success. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: Sepracor's inability to successfully achieve innovative and value-enhancing corporate development and licensing initiatives and other growth opportunities; unexpected delays in the commercial availability of Sepracor's products; the results of clinical trials with respect to products under development; the timing and success of submission, acceptance and approval of regulatory filings; the commercial success of Sepracor's products; the scope of Sepracor's patents and the patents of others and the success of challenges by others of Sepracor's patents; the outcome of litigation and regulatory decisions relating to Sepracor's patents, products and product candidates; the availability of sufficient funds to continue research and development efforts; the clinical benefits of Sepracor's products; the ability of Sepracor to attract and retain qualified personnel; the performance of Sepracor's licensees and other collaboration partners; and certain other factors that may affect future operating results and are detailed in Sepracor's most recent Quarterly Report on Form 10-Q and other periodic filings that Sepracor has made with the Securities and Exchange Commission. Sepracor disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date such statement was first made.
In addition, the statements in this press release represent Sepracor's expectations and beliefs as of the date of this press release. Sepracor anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while Sepracor may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Sepracor's expectations or beliefs as of any date subsequent to the date of this press release.
For a copy of this release or any recent release,
visit Sepracor's web site at www.sepracor.com.
Contact: Sepracor Inc. David P. Southwell, 508-481-6700 Chief Financial Officer or Jonae R. Barnes, 508-481-6700 Vice President, Investor Relations
Source: Sepracor Inc.
