Endo Health Solutions Announces Departure Of Chief Scientific Officer
MALVERN, Pa., Feb 27, 2013
/PRNewswire/ -- Endo Health Solutions Inc. (Nasdaq: ENDP) today announced that
Ivan P. Gergel, executive vice president research & developmentand chief
scientific officer, will beleaving the Company. Dr. Gergel will continue in
his current role until March 31, 2014.
MALVERN, Pa., Feb 27, 2013 Rajiv De Silva, president and chief executive
officer of Endo, said, "I want to thank Ivan for his dedicated service and
significant contributions to our R&D organization over the past 6 years.
During Ivan's tenure with Endo he has been responsible for building a focused
approach to drug development that ultimately led to multiple product
approvals. Ivan has also built a strong foundation of capabilities and
processes in R&D that will allow us to continue to focus on drug development
as an organic growth driver for our business. As a result of ourplanned
re-domicile to Ireland, we have made the decision to move the lead role for
R&D to our global headquarters in Dublin, and consequently, Ivan has chosen to
evaluate opportunities outside of Endo. We expect a smooth transition and are
confident in the plans we are putting in place to position Endo for future
shareholder value creation."
Ivan Gergel said, "I am very pleased with the accomplishments we have made at
Endo over the past 6 years as the chief scientific officer. I am very proud
to have built a strong R&D team, developed a more innovative, nimble and
cost-effective approach to drug development as well as the success we had in
building our virtual drug discovery platform. During my tenure, we were able
to bring multiple new products to market, progress two promising late stage
programs with AVEED™ and BEMA Buprenorphine and enhance the collaboration
efforts with our commercial teams in order to build and execute
innovativelife cycle management programs. I am looking forward to my next
opportunity and wish Endo the best in its next phase of growth."
Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with
business segments that are focused on branded pharmaceuticals, generics, and
medical devices which deliver quality products to its customers intended to
improve the lives of patients. Through its operating companies - Endo
Pharmaceuticals, Qualitest, and AMS - Endo is dedicated to delivering value to
our stakeholders: customers, patients, and shareholders. Learn more at
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Statements including
words such as "believes," "expects," "anticipates," "intends," "estimates,"
"plan," "will," "may," "look forward," "intend," "guidance," "future" or
similar expressions are forward-looking statements. Because these statements
reflect our current views, expectations and beliefs concerning future events,
these forward-looking statements involve risks and uncertainties. Investors
should note that many factors, as more fully described under the caption "Risk
Factors" in Endo's Form 10-K, Form 10-Q and Form 8-K filings with the
Securities and Exchange Commission and as otherwise enumerated herein or
therein, could affect Endo's future financial results and could cause Endo's
actual results to differ materially from those expressed in forward-looking
statements contained in our Annual Report on Form 10-K. The forward-looking
statements in this press release are qualified by these risk factors. These
are factors that, individually or in the aggregate, could cause our actual
results to differ materially from expected and historical results. Endo
assumes no obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or otherwise.
Investors/Media: Investors: Media:
Blaine Davis Jonathan Neely Brian O'Donnell
(484) 216-7158 (484) 216-6645 (484) 216-6726
SOURCE Endo Health Solutions Inc.
Press spacebar to pause and continue. Press esc to stop.