Depomed, Inc. (DEPO) Announces Appointment of Vicente J. Anido, Jr., Ph.D. to Board of Directors, and Retirement of Directors Julian N. Stern and Craig R. Smith, M.D.
NEWARK, Calif., Feb. 11, 2013 /PRNewswire/ -- Depomed, Inc. (NASDAQ: DEPO) today announced the appointment of Vicente Anido, Jr., Ph.D., 60, to the company's Board of Directors. Dr. Anido is the former President and Chief Executive Officer of ISTA Pharmaceuticals, which was acquired by Bausch + Lomb Incorporated in June 2012.
"We are thrilled to have Vince join our Board of Directors," said James Schoeneck, Depomed's President and CEO. "Vince's significant depth and breadth of experience in the specialty pharmaceutical industry will be invaluable to Depomed as we drive the commercial success of our products and create new opportunities for growth," Mr. Schoeneck added.
"I am excited to join Depomed's Board of Directors," said Dr. Anido. "The company's product portfolio, commercial organization and experienced management team are great assets, and I look forward to contributing to Depomed's growth and success."
Prior to joining ISTA Pharmaceuticals as President and CEO in 2000, Dr. Anido served as a general partner of Windamere Venture Partners. From 1996 to 1999, Dr. Anido served as President and Chief Executive Officer of CombiChem, Inc., a drug discovery company. From 1993 to 1996, Dr. Anido served as President of the Americas Region of Allergan, Inc., where he was responsible for Allergan's commercial operations for North and South America. Prior to Allergan, Dr. Anido spent 17 years in management positions at Marion Laboratories and Marion Merrell Dow, Inc., including as Vice President, Business Management of Marion's U.S. Prescription Products Division. Dr. Anido received a B.S. and a M.S. from West Virginia University and a Ph.D. from the University of Missouri, Kansas City.
Depomed also announced today the retirement of Julian N. Stern and Craig R. Smith, M.D. as directors of Depomed, effective upon the election of directors at the Company's 2013 Annual Meeting of Shareholders.
"I would like to thank Julian and Craig for their years of service and commitment to Depomed and its shareholders," said Peter Staple, the Chairman of Depomed's Board of Directors. "They have been important contributors to Depomed's development and growth, and I know I speak for everyone at Depomed in expressing our great appreciation for their service and the opportunity to work with them," Mr. Staple added.
Depomed, Inc. is a specialty pharmaceutical company with three approved and marketed products. Gralise® (gabapentin) is a once-daily treatment approved for the management of postherpetic neuralgia (PHN). Zipsor® (diclofenac potassium) Liquid Filled Capsules is a non-steroidal anti-inflammatory drug (NSAID) indicated for relief of mild to moderate acute pain in adults. Glumetza® (metformin hydrochloride extended release tablets) is approved for use in adults with type 2 diabetes and is commercialized by Santarus, Inc. inthe United States. Depomed formulates its products and product candidates with its proven, proprietary Acuform® drug delivery technology, which is designed to improve existing oral medications, allowing for extended release of medications to the upper gastrointestinal tract when dosed with food. Additional information about Depomed may be found on its website, www.depomed.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties including, but not limited to, those related to the company's anticipated future growth, and other risks detailed in the company's Securities and Exchange Commission filings, including the company's Annual Report on Form 10-K for the year ended December 31, 2011 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2012. The inclusion of forward-looking statements should not be regarded as a representation that any of the company's plans or objectives will be achieved. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.