- Company Continues Its Focus on Maximizing the Value of Its Two Marketed Anticancer Drugs - ZEVALIN®and FUSILEV®- and Advancing Its Late Stage Oncology Portfolio
IRVINE, Calif.--(BUSINESS WIRE)-- Spectrum Pharmaceuticals, Inc. (NasdaqGM: SPPI), a commercial-stage biotechnology company with a focus in oncology and hematology, today announced that it has appointed James E. Shields, a seasoned pharmaceutical sales executive with a proven track record of establishing and leading commercial operations, to the position of Senior Vice President and Chief Commercial Officer. Mr. Shields’ appointment is an important component of the Company’s continued focus on maximizing the growth potential of its ZEVALIN® and FUSILEV® brands, and as it makes launch preparations for its other late-stage drugs in the near future.
“We have strengthened Spectrum Pharmaceuticals’ management team with the addition of Jim, an industry veteran who brings a wealth of knowledge and applied commercial experience,” said Rajesh C. Shrotriya, M.D., Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. “Over the past month, Jim has immersed himself in the Company’s sales and marketing organization. With an objective of optimizing and streamlining the sales force structure that focuses on results, he has appointed two field-based Vice Presidents – a Vice President of National Sales and Field Operations, and a Vice President of Government Affairs and Business Solutions. His results-oriented, hands-on approach, in the near-term, is expected to be an important driver for revenue, thereby helping to increase shareholder value.”
“I am pleased, honored, and very excited to be a part of Spectrum Pharmaceuticals and to work in conjunction with Dr. Shrotriya and the entire Spectrum team,” said Mr. Shields. “Together, we will work to achieve Spectrum’s corporate goals and fulfill the vision of improving the lives of cancer patients – which has been the Company’s foundation and driving force from the beginning.”
Mr. Shields’ experience spans Fortune 500, biotechnology, as well as small-to-mid-size companies with an emphasis on establishing and leading successful commercial sales operations. Mr. Shields' oncology sales experience includes serving as the Vice President of Sales for Oncology and Injectable Products for MGI Pharmaceuticals, and Vice President of Sales and Marketing of Oncology for Supergen. Mr. Shields also held positions of increasing responsibility with several pharmaceutical companies, including Centocor, Bristol-Myers Squibb, ICI, and Stuart Pharmaceuticals. Mr. Shields was most recently with Teva Pharmaceutical Industries Limited. Mr. Shields earned his Bachelor’s Degree from the University of Kentucky.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals is a commercial-stage biotechnology company with a focus in oncology and hematology. The Company’s strategy is comprised of acquiring, developing and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. In addition to continuing to build an efficient in-house clinical research organization with regulatory and data management capabilities, the Company has established a commercial infrastructure to market its drug portfolio. The Company markets two oncology drugs, ZEVALIN® and FUSILEV®, and has two drugs in late stage development, apaziquone and belinostat, along with a diverse pipeline. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company’s website at www.sppirx.com.
Forward-looking statement – This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to our business and its future, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC. ®, ZEVALIN®, and FUSILEV® are registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING CANCER CARE™ and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.
©2010 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
CONTACT:
Spectrum Pharmaceuticals, Inc.
Paul Arndt
Senior Manager, Investor Relations
949-788-6700x216
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Health Biotechnology Oncology Pharmaceutical
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