OraSure Appoints Two New Directors
Mr. Lane has enjoyed a distinguished career in the pharmaceutical industry. Most recently, he was Executive Vice President of Bristol-Myers Squibb and President of its Worldwide Medicines Group, with responsibility for worldwide pharmaceutical operations, including all domestic and international business, global marketing, manufacturing, and research and development.
Mr. Lane's other positions at Bristol-Myers Squibb included President of the U.S. Medicines Group & Global Marketing, President of the U.S. Pharmaceutical Group, President of U.S. Primary Care, and Senior Vice President, Marketing and Medical, U.S. Primary Care. Mr. Lane has also held executive positions with Sandoz Pharmaceuticals and Merck & Co., Inc.
Mr. Lane received his B.A. in Biochemistry from Temple University and his M.B.A. in Finance from the Wharton School at the University of Pennsylvania. Mr. Lane serves on the boards of Millipore, the Robert Wood Johnson University Hospital, the Philadelphia Museum of Art, the Seabrook House and the Mid-Jersey Juvenile Diabetes Association.
Mr. Watson has also had a distinguished career in the pharmaceutical industry, spanning 33 years. Most recently, he served as President and Chief Executive Officer of Novartis Corporation, the U.S. subsidiary of Novartis A.G.
Prior to that, Mr. Watson was President and Chief Executive Officer of Ciba-Geigy Corporation, President of the Ciba Pharmaceuticals Division and Senior Vice President of Planning and Business Development of Ciba's U.S. Pharmaceuticals Division. From 1986 through 1996, Mr. Watson was on the Board of the Pharmaceutical Research & Manufacturers Association.
Mr. Watson holds an M.A. degree in pure mathematics from Churchill College, Cambridge University and is a member of the Chartered Institute of Management Accountants. Mr. Watson also serves on the Boards of Engelhard Corporation, Dendreon Corporation and Genta Incorporated, as well as a number of privately-held biotech companies.
"I am pleased to welcome Rick and Doug to the OraSure Board and look forward to working with them during this exciting phase of the Company's growth," commented Mike Gausling, President and Chief Executive Officer of the Company." The extensive operating, marketing and financial experience of these two senior executives will be invaluable to the future growth of our Company."
The Company also announced that Michael G. Bolton has resigned from the OraSure Board. Mr. Bolton was the founding Chief Executive Officer and Managing Director of Pennsylvania Early Stage Partners GP, LLC, a venture fund, and previously served on the Board of the Company's predecessor, STC Technologies, Inc.
Mr. Gausling stated, "Mike has been an advocate and mentor since I co-founded STC Technologies 14 years ago, and I expect that his friendship and counsel to OraSure will continue informally."
About OraSure TechnologiesOraSure Technologies develops, manufactures and markets oral fluid specimen collection devices using proprietary oral fluid technologies and diagnostic products, including immunoassays and other in vitro diagnostic tests and other medical devices.
These products are sold in the United States and certain foreign countries to government agencies, clinical laboratories, physicians' offices, hospitals, commercial and industrial entities, and various distributors. OraSure Technologies is the leading supplier of oral-fluid collection devices and assays to the life insurance industry and public health markets for the detection of antibodies to HIV-1.
In addition, the Company supplies oral-fluid testing solutions for drugs of abuse testing. For more information on the Company, please go to www.orasure.com.
CONTACT: OraSure Technologies
Ronald H. Spair, 610/882-1820
Investorinfo@orasure.com
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