Alkermes Appoints Mark Stejbach as Chief Commercial Officer
DUBLIN--(BUSINESS WIRE)--Mar. 5, 2012-- Alkermes plc (NASDAQ: ALKS) today announced that Mark Stejbach has been appointed Chief Commercial Officer. In this newly created role, Mr. Stejbach will be responsible for Alkermes' commercial activities, including marketing and sales of VIVITROL® (naltrexone for extended-release injectable suspension) and developing and executing commercial strategies for Alkermes' late-stage pipeline assets, namely ALKS 9070 (for schizophrenia), ALKS 37 (for opioid-induced constipation) and ALKS 5461 (for treatment-resistant depression). Mr. Stejbach will serve on the executive management team of Alkermes.
"We are very pleased to welcome Mark to Alkermes, as we continue to build our commercial capabilities in preparation for the expansion of our commercial product portfolio," said Richard Pops, Chief Executive Officer of Alkermes. "We look forward to having Mark accelerate and expand our commercial activities for VIVITROL as well as provide forward-looking insight into our late-stage pipeline development activities. Our goal is to build Alkermes plc into one of the next great biotechnology companies, and a strong commercial capability is a key strategic asset."
A seasoned executive with 25 years of experience in biotech and pharmaceutical marketing, sales, managed care and finance, Mr. Stejbach brings extensive commercial experience to the role of Chief Commercial Officer at Alkermes. He served most recently as Chief Commercial Officer at Tengion, Inc. He previously served as Vice President of Managed Care Marketing at Merck & Co., Inc., from 2005 until 2008, where he was responsible for marketing planning across all public and private payor segments, including contracting strategy, program development and economic affairs. Prior to 2005, Mr. Stejbach held several other senior positions at Merck, where he led marketing campaigns for a number of products, including VASOTEC® and PROSCAR®, and at Biogen Idec Inc., where he was responsible for the development and execution of the launch marketing plan for AVONEX®. Mr. Stejbach received his MBA from The Wharton School, University of Pennsylvania, and a BS in mathematics from Virginia Tech.
"I am thrilled to join Alkermes at this extremely exciting time for the company, and I see tremendous potential for VIVITROL as well as the robust pipeline of new product candidates," commented Mark Stejbach. "I look forward to enhancing the company's commercial capabilities to achieve its ultimate goal of bringing unique and compelling medicines to patients in need."
About Alkermes plc
Alkermes plc is a fully integrated, global biopharmaceutical company that applies its scientific expertise and proprietary technologies to develop innovative medicines that improve patient outcomes. The company has a diversified portfolio of more than 20 commercial drug products and a substantial clinical pipeline of product candidates that address central nervous system (CNS) disorders such as addiction, schizophrenia and depression. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts and manufacturing facilities in Athlone, Ireland; Gainesville, Georgia; and Wilmington, Ohio. For more information, please visit Alkermes' website at http://www.alkermes.com.
Note Regarding Forward-Looking Statements
Certain statements set forth above may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to the potential therapeutic and commercial value of the company's product candidates and of VIVITROL for the treatment of alcohol dependence and the prevention of relapse to opioid dependence, following opioid detoxification; the expansion of our commercial product portfolio and capabilities; and the acceleration and expansion of commercial activities for VIVITROL. Although the company believes that such statements are based on reasonable assumptions within the bounds of its knowledge of its business and operations, the forward-looking statements are neither promises nor guarantees. The company's business is subject to significant risk and uncertainties, and there can be no assurance that its actual results will not differ materially from its expectations. These risks and uncertainties include, among others: whether the therapeutic results demonstrated in clinical studies of our product candidates and VIVITROL will be predictive of future therapeutic results in clinical studies and in real-world use of the product; whether third-party payors will cover or reimburse VIVITROL for the prevention of relapse to opioid dependence, following opioid detoxification; and those risks described in our Registration Statement on Form S-4 (commission file number 333-175078), which was declared effective by the Securities and Exchange Commission ("SEC") on August 4, 2011; and in other filings made by the company with the SEC, which are available at the SEC's website at http://www.sec.gov. The information contained in this press release is provided by the company as of the date hereof, and, except as required by law, the company disclaims any intention or responsibility for updating any forward-looking information contained in this press release.
VIVITROL® is a registered trademark of Alkermes, Inc. VASOTEC® is a registered trademark of Biovail Laboratories International. PROSCAR® is a registered trademark of Merck Sharp & Dohme Corp. AVONEX® is a registered trademark of Biogen Idec Inc.
Source: Alkermes plc
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