Antares Pharma Appoints Patrick Shea Senior Vice President of Commercial
20 July 2020 - 9:00PM
Antares Pharma, Inc. (NASDAQ: ATRS) (“the Company”), a
pharmaceutical technology company, today announced the appointment
of Patrick Shea to the position of Senior Vice President
of Commercial. Mr. Shea will be responsible for leading all
commercial activities including sales, sales operations, marketing,
trade and market access for the Company and will report
to Robert F. Apple, Antares Pharma’s President and Chief
Executive Officer. In his role, Mr. Shea’s primary
responsibilities will be to accelerate the positive growth
trajectory of the Company’s flagship product XYOSTED® as well as
strategic assessment of future potential product opportunities for
the commercial organization. He will be replacing Edward
Kessig, Senior Vice President of Commercial, who has recently
announced his retirement.
Mr. Shea has over three decades of sales,
marketing, market access and commercial operations experience. Most
recently Mr. Shea served as Chief Commercial Officer of Egalet
Corporation, a specialty pharmaceutical company focused on
developing, manufacturing, and commercializing innovative
treatments for pain where he led a commercial organization of
approximately 100 employees. Prior to Egalet, he served as
Chief Commercial Officer at Clarus Therapeutics, Inc., a men's
health specialty pharmaceutical company. Preceding Clarus he
served as vice president of sales and marketing for the U.S.
commercial operations of CSL Behring, where he oversaw strategic
efforts for sales, marketing and managed care for a specialty
biotherapeutics business. Before that he served as senior
vice president of sales and marketing for the U.S. pharmaceutical
operations at Astellas Pharmaceuticals leading a commercial team of
approximately 1,000, supporting a diverse specialty and critical
care portfolio which included significant work in urology.
Additional commercial leadership roles were also held at Ligand
Pharmaceuticals (pain management and oncology) and Boehringer
Ingelheim (urology).
Robert F. Apple, President and Chief Executive
Officer of Antares Pharma, stated, “We are very pleased to have
someone with Pat’s extensive sales and marketing background join
the Antares senior leadership team. With a proven track
record of leading successful commercial organizations of varying
sizes and diverse portfolios in the pharmaceutical industry, we
believe Pat will be an extremely valuable asset to Antares as we
enter the next phase of growth for XYOSTED.” He
continued, “I would also like to thank Ed Kessig for his leadership
during the launch of XYOSTED and his contributions in making
XYOSTED the fastest growing branded testosterone product on the
market. Additionally, we believe the commercial team’s decision to
strategically shift to virtual detailing earlier this year due to
the COVID-19 crisis resulted in double digit percentage
prescription growth in the second quarter of 2020 despite the
challenging physician and patient access conditions that exist
today.”
Mr. Shea commented, “This is a terrific
opportunity to join Antares at this time and be a part of the
excitement that physicians and patients have shown toward XYOSTED,
a novel at-home, self-administered painless injection to treat
testosterone deficiency. I’m looking forward to leading the
commercial team as we enter the next phase of growth for the
Company and this unique product.”
About Antares Pharma
Antares Pharma, Inc. is a pharmaceutical
technology company focused primarily on the development and
commercialization of self-administered injectable pharmaceutical
products using advanced drug delivery auto injector
technology. The Company has a portfolio of proprietary and
partnered commercial products with several product candidates in
various stages of development, as well as significant strategic
alliances with industry leading pharmaceutical companies including
Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals,
Inc. (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd.
(Idorsia). Antares Pharma’s FDA approved products include
XYOSTED® (testosterone enanthate) injection, OTREXUP®
(methotrexate) injection for subcutaneous use and Sumatriptan
Injection USP, which is distributed by Teva.
SAFE HARBOR STATEMENT UNDER THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are subject to certain risks
and uncertainties that can cause actual results to differ
materially from those described. Factors that may cause such
differences include, but are not limited to: the uncertainty
regarding the duration, scope and severity of the COVID-19 pandemic
and the mitigation measures and other restrictions implemented in
response to the same and the impact on demand for our products, new
patients and prescriptions, future revenue, product supply, and our
overall business, operating results and financial condition; market
acceptance, adequate reimbursement coverage and commercial success
of XYOSTED® and future revenue from the same; successful
development including the timing and results of the clinical
bridging and Phase 3 clinical trial of the drug device combination
product for Selatogrel with Idorsia Pharmaceuticals and FDA and
global regulatory approvals and future revenue from the same;
market acceptance of Teva’s generic epinephrine auto-injector
product and future revenue from the same; our expectations
regarding whether the FDA will pursue withdrawal of approval for
AMAG Pharmaceuticals Inc.’s Makena® subcutaneous auto injector
following the recent FDA advisory committee meeting and future
prescriptions, market acceptance and revenue from Makena®
subcutaneous auto injector; Teva’s ability to successfully
commercialize VIBEX® Sumatriptan Injection USP and the amount of
revenue from the same; continued growth of prescriptions and sales
of OTREXUP®; the timing and results of the Company’s or its
partners’ research projects or clinical trials of product
candidates in development; actions by the FDA or other
regulatory agencies with respect to the Company’s products or
product candidates of its partners; continued growth in product,
development, licensing and royalty revenue; the Company’s ability
to meet loan extension and interest only payment milestones and the
ability to repay the debt obligation to Hercules Capital; the
Company’s ability to obtain financial and other resources for its
research, development, clinical, and commercial activities and
other statements regarding matters that are not historical facts,
and involve predictions. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results, performance, achievements or prospects to be materially
different from any future results, performance, achievements or
prospects expressed in or implied by such forward-looking
statements. In some cases you can identify forward-looking
statements by terminology such as ''may'', ''will'', ''should'',
''would'', ''expect'', ''intend'', ''plan'', ''anticipate'',
''believe'', ''estimate'', ''predict'', ''potential'', ''seem'',
''seek'', ''future'', ''continue'', or ''appear'' or the negative
of these terms or similar expressions, although not all
forward-looking statements contain these identifying words.
Additional information concerning these and other factors that may
cause actual results to differ materially from those anticipated in
the forward-looking statements is contained in the "Risk Factors"
section of the Company's Annual Report on Form 10-K, and in the
Company's other periodic reports and filings with the Securities
and Exchange Commission. The Company cautions investors not
to place undue reliance on the forward-looking statements contained
in this press release. All forward-looking statements are based on
information currently available to the Company on the date hereof,
and the Company undertakes no obligation to revise or update these
forward-looking statements to reflect events or circumstances after
the date of this press release, except as required by
law.
Contact:
Jack HowarthVice President, Corporate
Affairs609-359-3016jhowarth@antarespharma.com
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