Health & Fitness
Health and Fitness
Health and Fitness
Thu, February 3, 2011
Somaxon Pharmaceuticals Appoints Vice President, Business Development
SAN DIEGO--([ BUSINESS WIRE ])--Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX), a specialty pharmaceutical company, today announced the appointment of Robert Cutler as Vice President, Business Development.
"Rob is an accomplished executive with a solid track record of executing successful pharmaceutical business development transactions. With his leadership, we are well positioned to build upon our ongoing business development initiatives and extend our product portfolio with commercial or late-stage products which complement Silenor and accelerate our growth."
aAs we continue to focus on growing our Silenor business in the U.S., it is a key corporate objective to fully leverage our commercial organization this year,a said Richard W. Pascoe, Somaxona™s President and Chief Executive Officer. aRob is an accomplished executive with a solid track record of executing successful pharmaceutical business development transactions. With his leadership, we are well positioned to build upon our ongoing business development initiatives and extend our product portfolio with commercial or late-stage products which complement Silenor and accelerate our growth.a
Mr. Cutler brings to Somaxon over 13 years of transactional experience primarily focused in the pharmaceutical industry. Prior to joining Somaxon, Mr. Cutler spent over four years as Senior Director, Business Development at Biogen Idec Inc., where he successfully executed multiple collaboration, licensing and acquisition transactions. That role was preceded by over four years as Associate General Counsel at Biogen Idec, where Mr. Cutler was responsible for business development transactions across the company, among other responsibilities. Prior to Biogen Idec, Mr. Cutler spent over five years in private legal practice, where he completed numerous capital raising and strategic transactions for life science clients.
About Somaxon Pharmaceuticals, Inc.
Headquartered in San Diego, CA, Somaxon Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the in-licensing, development and commercialization of proprietary branded pharmaceutical products and late-stage product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area. Somaxona™s product Silenor® (doxepin), now available by prescription in the United States, is indicated for the treatment of insomnia characterized by difficulty with sleep maintenance.
For more information, please visit the companya™s web site at [ www.somaxon.com ].
Safe Harbor Statement
Somaxon cautions readers that statements included in this press release that are not a description of historical facts are forward-looking statements.For example, statements regarding Somaxona™s ability to execute strategic transactions and to carry out its corporate and commercial plans are forward-looking statements.The inclusion of forward-looking statements should not be regarded as a representation by Somaxon that any of its plans will be achieved.Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Somaxona™s business, including, without limitation, Somaxona™s ability to successfully commercialize Silenor; Somaxona™s reliance on its co-promotion partner, Procter & Gamble, and its contract sales force provider, Publicis, for critical aspects of the commercial sales process for Silenor; the performance of Procter & Gamble and Publicis and their adherence to the terms of their contracts with Somaxon; the ability of Somaxona™s sales management personnel to effectively manage the sales representatives employed by Publicis; the scope, validity and duration of patent protection and other intellectual property rights for Silenor; whether the approved label for Silenor is sufficiently consistent with such patent protection to provide exclusivity for Silenor; the ability of Somaxon to ensure adequate and continued supply of Silenor to successfully meet anticipated market demand; Somaxona™s ability to successfully enforce its intellectual property rights and defend its patents, including any developments relating to the recent submission of abbreviated new drug applications for generic versions of Silenor 3 mg and 6 mg and related patent litigation; the possible introduction of generic competition of Silenor; Somaxona™s ability to raise sufficient capital to fund its operations, and the impact of any such financing activity on the level of its stock price; the impact of any inability to raise sufficient capital to fund ongoing operations, including any patent infringement litigation; Somaxona™s ability to operate its business without infringing the intellectual property rights of others; the market potential for insomnia treatments, and Somaxona™s ability to compete within that market; inadequate therapeutic efficacy or unexpected adverse side effects relating to Silenor that could adversely affect commercialization, or that could result in recalls or product liability claims; other difficulties or delays in development, testing, manufacturing and marketing of Silenor; the timing and results of post-approval regulatory requirements for Silenor, and the FDAa™s agreement with Somaxona™s interpretation of such results; and other risks detailed in Somaxona™s prior press releases as well as in its periodic filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.All forward-looking statements are qualified in their entirety by this cautionary statement, and Somaxon undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.This caution is made under the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.
