Actavis plc Names Board of Directors
DUBLIN, Oct. 2, 2013
DUBLIN, Oct.2, 2013 /PRNewswire/ --Actavis plc (NYSE: ACT) today announced
the appointment of its Board of Directors, effective until the next annual
meeting of shareholders in May 2014. The appointment of the Actavis plc Board
follows the completion of Actavis, Inc.'s acquisition of Warner Chilcott plc
in a stock-for-stock transaction valued at approximately $8.5 billion. The
combination creates Actavis plc, a leading global specialty pharmaceutical
company with approximately $11 billion in pro forma combined annual 2013
revenue, with approximately $3 billion in annual revenue focused on the core
therapeutic categories of Women's Health, Urology, Gastroenterology and
Dermatology. Actavis plc is headquartered in Dublin, Ireland.
Paul M. Bisaro, President and CEO of Actavis plc, has been named Chairman of
the Board. Andrew L. Turner, former Chairman of the Board of Actavis, Inc.,
has been named Lead Independent Director.
Mr. Bisaro will lead a 13-member Board comprised of seven former members of
the Actavis, Inc., Board of Directors and one new member from Actavis
management; four members of the former Warner Chilcott plc Board of Directors;
and one new independent director. The Board will have several standing
committees, including an Audit Committee, Compensation Committee, Corporate
Governance Committee and Quality and Operations Committee.
Actavis plc Board of Directors
Paul M. Bisaro
Paul M. Bisaro has served as Actavis, Inc.'s President and Chief Executive
Officer and a member of the Company's Board of Directors since 2007. Prior to
joining Actavis, Inc., Mr. Bisaro was President, Chief Operating Officer and a
member of the Board of Directors of Barr Pharmaceuticals, Inc., a global
specialty pharmaceutical company ("Barr"), from 1999 to 2007. Between 1992
and 1999, Mr. Bisaro served as General Counsel of Barr, and from 1997 to 1999
served in various additional capacities including Senior Vice President —
Strategic Business Development. Prior to joining Barr, he was associated with
the law firm Winston & Strawn and a predecessor firm, Bishop, Cook, Purcell
and Reynolds from 1989 to 1992. Mr. Bisaro holds an undergraduate degree in
General Studies from the University of Michigan and a Juris Doctor from
Catholic University of America in Washington, D.C.
James H. Bloem
James H. Bloem has been a member of the Warner Chilcott plc Board of Directors
since 2006 and was a member of the Board of Directors of one of its
predecessor companies from 1996 to 2000. Mr. Bloem is Senior Vice President,
Chief Financial Officer and Treasurer of Humana Inc. ("Humana"), one of the
nation's largest health benefit companies. He joined Humana in 2001 and has
responsibility for all of the Company's accounting, actuarial, analytical,
financial, tax, risk management, treasury and investor relations activities.
Christopher W. Bodine
Christopher W. Bodine has served as a Director of Actavis, Inc. since 2009.
He retired from CVS Caremark in January 2009 after 24 years with the company.
Prior to his retirement, Mr. Bodine served as CVS Caremark's President,
Healthcare Services and, prior to the merger of CVS Corporation and Caremark
Rx, Inc. in 2007, he served for several years as CVS' Executive Vice President
— Merchandising and Marketing. Mr. Bodine is active in the pharmaceutical
industry, having served on a number of boards and committees, including the
Healthcare Leadership Council, RI Quality Institute, National Retail
Federation, National Association of Chain Drug Stores (NACDS), and the NACDS
Pharmacy Affairs and Leadership Committees. Mr. Bodine also currently serves
as a Director with Nash Finch.
Tamar D. Howson
Tamar D. Howson became a Director of Warner Chilcott plc in May 2013. Ms.
Howson has served as a corporate business development and strategy consultant
to biopharmaceutical companies since 2011. From 2009 to 2011, she served as a
member of the transaction advisory firm JSB-Partners, providing business
development support to life sciences companies, and from 2007 to 2008 she
served as Executive Vice President, Corporate Business Development at Lexicon
Pharmaceuticals. Prior to joining Lexicon, Ms. Howson served as Senior Vice
President, Corporate and Business Development at Bristol-Myers Squibb from
November 2001 until February 2007. Ms. Howson also serves on the boards of
directors of Organovo Holdings Inc., Idenix Pharmaceuticals Inc. and OXiGENE,
Inc., and is a director of the International Partnership for Microbicides, a
non-profit product development partnership.
John A. King, Ph.D
John A. King, Ph.D., is the former Non-Executive Chairman of the Warner
Chilcott Board of Directors, having joined the Board in June 2005. Dr. King
served in positions of increasing responsibility with Warner Chilcott's
predecessors for 26 years, most recently as Executive Chairman of Galen
Holdings Ltd., a position he held from 2000 until January 2005.
Catherine M. Klema
Catherine M. Klema has been a member of the Actavis, Inc. Board of Directors
since 2004. She is currently President of Nettleton Advisors LLC, a
consulting firm established by Ms. Klema in 2001. Prior to establishing her
firm, Ms. Klema served as Managing Director, Healthcare Investment Banking, at
SG Cowen Securities from 1997 to 2001. She also served as Managing Director,
Healthcare Investment Banking, at Furman Selz LLC from 1994 until 1997, and
was employed by Lehman Brothers from 1987 until 1994. Ms. Klema served as a
director of Pharmaceutical Product Development, Inc., a global contract
research organization, from 2000 to 2011. In March 2012, Ms. Klema was
appointed to the Montefiore Medical Center Board of Trustees.
Jiri Michal joins the Actavis plc Board effective with the close of the Warner
Chilcott acquisition. Mr. Michal most recently served as Chairman of the
Board and Chief Executive Officer of Zentiva until 2010. During his 36-year
involvement with the company, which included 20 years as CEO, Mr. Michal held
numerous positions and directed the growth of the company through several
acquisitions, initiated modernization and privatization and lead a successful
management buy-out, culminating in a successful initial public offering in
2004. In 2009, Zentiva became part of Sanofi Group. Mr. Michal was appointed
Chairman of the Board of Prague Chemical University in 2011, and is an acting
member of the Board of Directors of Moser in the Czech Republic.
Jack Michelson has been a Director of Actavis, Inc. since 2002. He served as
a consultant to the Company from February 2001 to June 2003, establishing a
deep knowledge of Actavis' operational, technical and regulatory operations.
Prior to his work with Actavis, Mr. Michelson served for 24 years as an
officer of G.D. Searle & Co., a pharmaceutical company, serving most recently
as the Company's Corporate Vice President and President, Technical Operations.
Sigurdur Oli Olafsson
Siggi O. Olafsson joins the Actavis plc Board of Directors effective following
the closing of the Warner Chilcott acquisition. Mr. Olafsson is the President
of Actavis Pharma — Actavis' generic, branded generic, legacy brands and
over-the-counter business. He joined the Company as Executive Vice President,
Global Generics in September 2010, and was appointed President of the Global
Generics business in April 2012. Prior to joining the Company, Mr. Olafsson
served as CEO of the Actavis Group (the legacy Actavis business acquired by
the Company in 2012), where he was responsible for overseeing the Company's
global pharmaceutical business with operations in more than 40 countries.
Prior to joining the Actavis Group, Mr. Olafsson held increasingly responsible
positions with Pfizer's Global Research and Development organization in both
the U.S. and the UK from 1998 until 2003, and served as head of Drug
Development for Omega Farma in Iceland for four years. Mr. Olafsson has a
M.S. in Pharmacy (Cand Pharm) from the University of Iceland.
Patrick J. O'Sullivan
Patrick J. O'Sullivan has served as a Director of Warner Chilcott since 2009.
Prior to his retirement in 2006, Mr. O'Sullivan served in positions of
increasing responsibility with LEO Pharma A/S ("LEO") for more than 30 years,
most recently as the Chief Executive Officer of LEO Pharma Ireland and as a
director of LEO. He also served as a director of LEO Pharmaceuticals Ltd. UK,
LEO Pharma SA France and The LEO Foundation. Mr. O'Sullivan is a registered
pharmacist, a member and honorary fellow of the Pharmaceutical Society of
Ireland and a Knight of the Order of the Dannebrog. Currently, Mr. O'Sullivan
is a pharmaceutical business consultant and serves on the Board of Directors
of Amarin Corporation plc, where he is a member of the audit committee,
nominating committee and corporate governance committee.
Ronald R. Taylor
Ronald R. Taylor joined Actavis, Inc.'s Board of Directors in 1994. Mr.
Taylor is the President of Tamarack Bay, LLC, a private consulting firm. He
has been a director of Red Lion Hotels Corporation, a hotel operating company,
since 1998 and a director of ResMed Inc., a medical device manufacturer, since
2005. Prior to forming Tamarack Bay, Mr. Taylor was a general partner of
Enterprise Partners Venture Capital, a venture capital firm, from 1998 until
Andrew L. Turner
Andrew L. Turner has served as a Director of Actavis, Inc. since 1997. He was
appointed as the Chairman of the Board in May 2008 and served in this capacity
until October 2013. He is the founder and currently serves as Manager of
Trinity Health Systems, an owner of senior housing properties. Mr. Turner has
been a director of Streamline Health Solutions, a provider of software for
document solutions in hospitals, since 2007, and also serves as a director of
Aston Healthcare Ltd., an operator of senior housing properties in the UK.
Fred G. Weiss
Fred G. Weiss has been a member of the Actavis, Inc. Board of Directors since
2000. Mr. Weiss is the managing director of the consulting firm FGW
Associates, Inc., a position he has held since 1997, and prior to that served
as an executive for Warner-Lambert for nearly 20 years, most recently as Vice
President, Planning, Investment and Development. Mr. Weiss is also an
Independent Vice-Chairman of the Board and Chairman of the Audit Committee of
numerous BlackRock-sponsored mutual funds. In this capacity, and pursuant to
BlackRock's policies, he has oversight responsibility for finance and
accounting matters, and has no responsibility for, or discretion concerning,
any of BlackRock's equity investment decisions. Additionally, Mr. Weiss has
been a Director of the Michael J. Fox Foundation for Parkinson's Research
Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical
company focused on developing, manufacturing and distributing generic, brand
and biosimilar products. Actavis has global headquarters In Dublin, Ireland
and Administrative Headquarters in Parsippany, New Jersey, USA.
Actavis Pharma markets generic, branded generic, legacy brands and
Over-the-Counter (OTC) products in more than 60 countries. Actavis Specialty
Brands is a global branded specialty pharmaceutical business focused
principally in the Urology and Women's Health therapeutic categories, as well
as Gastroenterology and Dermatology. Actavis Specialty Brands also has a
portfolio of five biosimilar products in development in Women's Health and
Oncology. Actavis Global Operations has more than 30 manufacturing and
distribution facilities around the world, and includes Anda, Inc., a U.S.
pharmaceutical product distributor.
For press release and other company information, visit Actavis' Web site at
Statements contained in this press release that refer to Actavis' estimated or
anticipated future results or other non-historical facts are forward-looking
statements that reflect Actavis' current perspective of existing trends and
information as of the date of this release. For instance, any statements in
this press release concerning prospects related to Actavis' strategic
initiatives, product introductions and anticipated financial performance are
forward-looking statements. It is important to note that Actavis' goals and
expectations are not predictions of actual performance. Actavis' performance,
at times, will differ from its goals and expectations. Actual results may
differ materially from Actavis' current expectations depending upon a number
of factors affecting Actavis' business. These factors include, among others,
the inherent uncertainty associated with financial projections; successful
integration of the Warner Chilcott acquisition and the ability to recognize
the anticipated synergies and benefits of the Warner Chilcott acquisition; the
difficulty of predicting the timing and outcome of pending or future
litigation and government investigations and risks that an adverse outcome in
such litigation or investigations could render Actavis liable for substantial
damages or penalties; risks that resolution of patent infringement litigation
through settlement could result in investigations or actions by private
parties or government authorities or agencies; the impact of competitive
products and pricing; risks related to fluctuations in foreign currency
exchange rates; periodic dependence on a small number of products for a
material source of net revenue or income; variability of trade buying
patterns; changes in generally accepted accounting principles; risks that the
carrying values of assets may be negatively impacted by future events and
circumstances; the timing and success of product launches; the difficulty of
predicting the timing or outcome of product development efforts and regulatory
agency approvals or actions, if any; risks and uncertainties normally incident
to the pharmaceutical industry, including product liability claims and the
availability of product liability insurance on reasonable terms; market
acceptance of and continued demand for Actavis' products; difficulties or
delays in manufacturing; the availability and pricing of third party sourced
products and materials; successful compliance with governmental regulations
applicable to Actavis' facilities, products and/or businesses; changes in the
laws and regulations, including Medicare, Medicaid, and similar laws in
foreign countries affecting, among other things, pricing and reimbursement of
pharmaceutical products and the settlement of patent litigation; and such
other risks and uncertainties detailed in Actavis, Inc.'s periodic public
filings with the Securities and Exchange Commission, including but not limited
to Actavis, Inc.'s Annual Report on Form 10-K for the year ended December 31,
2012 (as revised pursuant to Actavis, Inc.'s Current Report on Form 8-K dated
as of June 17, 2013, which was filed with the SEC on June 18, 2013) and
Quarterly Reports on Form 10-Q for the periods ended March 31, 2013 and June
30, 2013, and Warner Chilcott's periodic public filings with the Securities
and Exchange Commission, including but not limited to Warner Chilcott's Annual
Report on Form 10-K for the year ended December 31, 2012 and its Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2013 and June 30, 2013.
Except as expressly required by law, Actavis disclaims any intent or
obligation to update these forward-looking statements.
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SOURCE Actavis plc
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