Assertio Announces the Appointment of Brendan P. O’Grady as New CEO
29 May 2024 - 9:00PM
Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq:
ASRT), a pharmaceutical company with comprehensive commercial
capabilities offering differentiated products to patients, today
announced that its Board of Directors has appointed Brendan P.
O’Grady, a highly accomplished pharmaceutical executive, as the
Company’s new Chief Executive Officer and a member of the board,
effective today, May 29, 2024.
Mr. O’Grady, a senior healthcare executive with more than 30
years of experience accelerating sales growth and profitability,
brings to Assertio a demonstrated understanding of multiple
commercial models and a track record of market access success. Most
recently, Mr. O’Grady was CEO of the Global Formulations business
at Glenmark Pharmaceuticals, driving new product launches and
focused on growing profitability in key markets. Prior, he was
Chief Commercial and Growth Officer at Amwell, building a
go-to-market strategy at the digital telehealth provider. He
previously spent 21 years at Teva Pharmaceuticals, rising to CEO of
Teva USA and EVP North America Commercial while scaling
profitability, growth and productivity. Earlier in his Teva career,
he was the Chief Commercial Officer for Global Specialty Medicines
as well as Interim Head of Europe Specialty Medicines, Head of
North American Generic Medicines, and Head of US Market Access. Mr.
O’Grady holds a Bachelor of Science degree from State University of
New York and Master of Business Administration degree from Baker
University.
Peter Staple, Chairman of the Board, said, “The Board is
delighted to welcome Brendan to Assertio as our new CEO. His
exceptional leadership skills, strategic insights and track record
of commercial and financial execution make him an ideal choice to
lead Assertio forward.”
“I am truly honored to join the Assertio team as CEO,” said
O’Grady. “I look forward to executing and building on the Company’s
strategy, further diversifying our asset base and demonstrating
ways to drive growth.”
Mr. Staple added, “On behalf of the Board, I want to thank
Heather Mason for her invaluable leadership and guidance over the
last several months as Interim CEO. We also look forward to
Heather’s continuing contributions as she transitions back to her
role as an independent director.”
About Assertio
Assertio is a commercial pharmaceutical company offering
differentiated products to patients. We have built our commercial
portfolio through acquisition or licensing of approved products.
Our comprehensive commercial capabilities include marketing through
both a sales force and a non-personal promotion model, market
access through payor contracting, and trade and distribution. To
learn more about Assertio, visit www.assertiotx.com.
Forward Looking Statements
Statements in this communication that are not historical facts
are forward-looking statements that reflect Assertio’s current
expectations, assumptions and estimates of future performance and
economic conditions. These forward-looking statements are made in
reliance on the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements relate to, among other things, future events or the
future performance or operations of Assertio, including risks
related to our ability to realize the benefits from our operating
model, deliver or execute on our business strategy, including to
expand or diversify our asset base and market reach and drive cash
flows and growth, successfully integrate new assets, and explore
new business development initiatives. All statements other than
historical facts may be forward-looking statements and can be
identified by words such as “anticipate,” “believe,” “could,”
“design,” “estimate,” “expect,” “forecast,” “goal,” “guidance,”
“imply,” “intend,” “may,” “objective,” “opportunity,” “outlook,”
“plan,” “position,” “potential,” “predict,” “project,”
“prospective,” “pursue,” “seek,” “should,” “strategy,” “target,”
“would,” “will,” “aim,” “lead,” “forward,” “look” or other similar
expressions that convey the uncertainty of future events or
outcomes and are used to identify forward-looking statements. Such
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of
which are beyond the control of Assertio, including the risks
described in Assertio’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q filed with the U.S. Securities and Exchange
Commission (“SEC”) and in other filings Assertio makes with the SEC
from time to time. Investors and potential investors are urged not
to place undue reliance on forward-looking statements in this
communication, which speak only as of this date. While Assertio may
elect to update these forward-looking statements at some point in
the future, it specifically disclaims any obligation to update or
revise any forward-looking-statements contained in this press
release whether as a result of new information or future events,
except as may be required by applicable law.
Investor Contact
Matt Kreps, Managing DirectorDarrow AssociatesM:
214-597-8200mkreps@darrowir.com
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