WILMINGTON, N.C. & MARIETTA, Ga. -- The Board of Osmotica Pharmaceutical today announced the appointment of Dr. Praveen Tyle as President and Chief Executive Officer. He was also elected as a member of the Company's board of directors. After serving as a CEO for the past 7 years, R. Forrest Waldon will take on a new role as an advisor to the Company and will continue to serve on the Board of Osmotica Pharmaceutical.
In announcing this appointment, the Board of Directors noted that, "Praveen has proven in a short tenure at the company that he has the talent and exceptional executive leadership skills to take our company to greater heights and growth. He is an exemplary leader with strategic vision and operational excellence needed for the next phase of Osmotica." The Board added, "We want to thank Forrest for his extraordinary service as the Company's CEO through a period of continuous growth and look forward to ongoing contributions as an advisor to the Company." Forrest said, "I am confident that Praveen will advance the company's pipeline to commercial success and I look forward to continuing working with the Board to support Praveen and his team." Dr. Tyle commented that, "I look forward to leading Osmotica's innovative global team of accomplished professionals in aggressively pursuing our vision of providing high quality pharmaceutical products to the patients."
Dr. Tyle has 30 years of diversified pharmaceutical industry experience with an impressive record of moving pharmaceutical pipelines to commercial success. Dr. Tyle joined Osmotica Pharmaceutical as Chief Scientific Officer & Executive Vice President and Managing Director of the Marietta, GA site in August 2012. Prior to joining Osmotica Pharmaceutical, Praveen served as Executive Vice President and Chief Science officer for the United States Pharmacopeia. Praveen's broad experience in the pharmaceutical industry includes senior executive leadership positions in areas of research and development, manufacturing, supply chain, quality, business development and operations. Prior to USP, he served as the Senior Vice President & Global Head of Business Development and Licensing and as Senior Vice President & Global Head of R&D at Novartis OTC. At Novartis, he developed both short-and long-term OTC medicine pipelines including prescription to over-the-counter transitions. Before Novartis, Praveen was Corporate Senior Vice President of Global Research and Development and Chief Scientific Officer at Bausch + Lomb.
Praveen earned his doctorate in pharmaceutics and pharmaceutical chemistry from the Ohio State University, and his bachelor of pharmacy degree (First Class with Honors and valedictorian) at the Institute of Technology, Banaras Hindu University in India. He sits on a number of Boards of Directors and Scientific Advisory committees including those at EyeGate Pharmaceuticals, Inc., Orient Europharma, Inc., GrayBug, LLC, Yolia Health and some private equity groups. Praveen has over 20 issued patents and over 120 scientific publications and presentations, including editor of 7 books on drug development, to his credit. Additionally, he serves as adjunct professor at Howard University, the University of Rochester Medical Center, the University of Houston and the University of Rhode Island. Praveen has been honored as a distinguished research fellow by the Shandong Pharmaceutical Research Institute, China and received the "Distinguished Alumni" award from the Institute of Technology, Banaras Hindu University.
About Osmotica Pharmaceutical
Osmotica Pharmaceutical is a global specialty pharmaceutical company with a proven history of developing commercially successful pharmaceutical products. The company uses its proprietary osmotic technology platform and with strategic partners develops and commercializes high quality pharmaceutical products. In addition to the products currently on the market, the company's pipeline includes numerous ANDA programs and several innovative neurology-based NDA programs.
Osmotica Pharmaceutical and its related companies form an international group of companies with principal operations located in the United States, Argentina and Hungary.
For more information on the Company, please visit Osmotica's website at www.osmotica.com. This press release is directed to residents of the United States.