PARSIPPANY, N.J., June 19 /PRNewswire/ -- Valeritas, LLC, a medical technology company committed to the development and commercialization of innovative drug delivery solutions, announced today the completion of hiring for its diabetes sales leadership team.
Mike Stout, who joined Valeritas in January 2007, leads the team as Vice President of Sales and Sales Operations. Mr. Stout joined the company from sanofi-aventis and its predecessor companies where he held senior-level positions in pharmaceutical sales, sales management, sales operations and marketing.
As a member of the company's commercial leadership team, Mr. Stout plays a critical role in the development of a first-class sales force and sales operation unit that will launch and promote Valeritas' rich metabolic product portfolio. Mr. Stout and his leadership team will collaborate with the company's commercial team to roll out the company's lead product, the h- Patch(TM) insulin delivery system, which is scheduled for commercial launch by the end of 2007.
"Mike's track record speaks for itself," said John E. Timberlake, Executive Vice President and General Manager of Valeritas. "While at sanofi- aventis, Mike built and led first-rate sales teams that generated strong results. He also was responsible for creating effective training programs, sales operations and marketing campaigns across multiple chronic disease categories including diabetes. His expertise will be critical to developing a highly motivated, well-coordinated sales organization at Valeritas."
"I am proud to be a part of Valeritas, a company on the verge of significant growth, as it prepares to launch its first product," said Mr. Stout. "The company's rich portfolio of unique products targeting high-growth markets will be a strong draw for attracting the kind of top talent we envision for our sales force. I look forward to working closely with the sales management to build an effective sales team that will generate strong results and be recognized for their high level of professionalism by both industry and healthcare providers."
Robert R. Gonnelli, the company's founding President and Chief Executive Officer, added, "Mike has been a terrific addition to our rapidly growing management team of first-rate pharmaceutical executives. His expertise in building and training strong field forces at sanofi-aventis will be instrumental in developing our Valeritas team."
Prior to joining Valeritas, Mr. Stout served as Associate Vice President, Sales Force Effectiveness at sanofi-aventis where he was charged with leading and driving change in the sales organization. Prior to that position, he served as Regional Sales Director where he led a field sales team of nearly 100 professionals promoting multiple products, including Lantus(R). Mr. Stout began his career as a sales professional and quickly moved into management roles. He earned his bachelor's degree in Economics and Business from Lafayette College and his MBA from Penn State University.
Additional New Hires Complete Leadership Team
Valeritas also announced that it hired Hokan Lars Ojert to serve as Area Sales Vice President. Mr. Ojert, who also comes from sanofi-aventis where he was Regional Sales Director in the Metabolism Business Unit, will report to Mr. Stout. He will be based in Atlanta, Ga., and will lead the company's field sales team to launch the h-Patch(TM).
"I am excited to be part of a company with a strong portfolio of innovative products and a focus on quality throughout all its operations," said Mr. Ojert. "I intend to leverage my extensive knowledge of the sales and marketing environment in metabolism to support the design and implementation of a winning sales strategy for the h-Patch(TM) and other products as they come to market."
Before joining Valeritas, Mr. Ojert held several sales and marketing positions at sanofi-aventis. Most recently, he served as Regional Sales Director of sanofi-aventis' Metabolism Business Unit in the Southeastern United States. He earned his bachelor's degree in Management from the University of Scranton.
Katy Rooks has also joined Valeritas as Senior Manager of Sales Training. In this role, Ms. Rooks will be responsible for training the sales force and other field teams on diabetes and the role of h-Patch(TM) in the treatment of diabetes. Ms. Rooks joins Valeritas from sanofi-aventis where she held various roles in field sales, sales management and sales training. She earned her bachelor's degree in Chemical Engineering from the University of Alabama.
About Valeritas, LLC
Valeritas is a medical technology company committed to developing and commercializing innovative drug delivery solutions that directly improve clinical and humanistic outcomes for patients, with an initial focus on the treatment of diabetes.
Valeritas' medical technologies portfolio is headlined by the h-Patch(TM) insulin delivery system. The h-Patch(TM) is a simple-to-use, once-daily disposable basal and on-demand bolus delivery system that will enable the millions suffering from Type 2 diabetes to discreetly and conveniently deliver insulin throughout the day, including around meals. Developed to help enhance a patient's glycemic control, the h-Patch(TM) is the smallest known FDA- cleared insulin delivery system with basal-bolus capability and no visible needle. The h-Patch(TM) has received FDA 510(k) clearance and Phase IV clinical trials are running to support broad marketing and reimbursement claims. In addition to h-Patch(TM) for the delivery of insulin, Valeritas' delivery technology portfolio includes h-Patch(TM) for the delivery of other compounds beyond insulin, and e-Patch(TM) Controlled Release Disposable Micro Pump System, Mini-Ject(TM) Pre-Filled Needle-Free Delivery System and the Micro-Trans(TM) Microneedle Transdermal Delivery Patch. These technologies, when combined with certain compounds, are designed to provide unique products that allow precise dosing in previously difficult-to-treat conditions.
Headquartered in Parsippany, N.J., Valeritas operates its R&D and clinical manufacturing in a state-of-the-art manufacturing and R&D facility in Shrewsbury, Mass.
Valeritas, LLCCONTACT: Tara Charvat of Valeritas, LLC, +1-973-993-1400 x105,TCharvat@valeritas.com; or Dan Budwick of BMC Communications,+1-212-477-9007 x14, dbudwick@bmccommunications.com
