MARLBOROUGH, Mass.--(BUSINESS WIRE)--Sepracor Inc. (Nasdaq: SEPR - News) today announced that Timothy J. Barberich will retire as an executive of the company on or prior to May 13, 2008 and is expected to continue to serve as Chairman of Sepracor’s Board of Directors. Mr. Barberich also plans to serve as an advisor to the company through December 2009.
Mr. Barberich served as Chief Executive Officer of Sepracor from its founding in 1984 until May 2007 when he was succeeded by the company’s current President and Chief Executive Officer, Adrian Adams. Since May 2007, Mr. Barberich has held the role of Executive Chairman and has continued to be a member of the management team.
Mr. Barberich intends to continue to serve as Chairman of the Board of Directors of Sepracor, contingent on his election as a director at the May 13, 2008 annual meeting of shareholders.
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 Mr. Barberich’s continued service to the Company. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: Mr. Barberich’s ability to serve as an advisor and/or board member of the Company; and certain other factors that 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 Sr. Vice President Investor Relations
Source: Sepracor Inc.
