After helming specialty pharmaceutical company Clinigen for the past 6 years, Peter George is stepping aside as chief executive to make room for Shaun Chilton, who has served as deputy chief executive for the past two years.
George, who helped establish the company in 2010, guide it through a public offering and position Clinigen as a market leader, will stay on as a non-executive director. Previous to his role as deputy CEO, Chilton served as the company’s COO.
“I’ve worked closely with Shaun over the years and look forward to supporting him as he takes the business to the next stage,” George said in a statement. “It has been a pleasure and privilege to create and lead Clinigen.”
During George’s tenure, Clinigen saw its revenues climb from $27 million in 2010 to $443 million this year and its share price increased more than threefold.
“Our focus now is to drive sustainable growth by capitalizing on our market leading positions in clinical trial services and unlicensed medicines and continuing to expand our portfolio of specialty pharmaceuticals,” Chilton said.
Additionally, the company announced that Robin Sibson will retire from the board in November.
Clinigen currently has 5 divisions that source drugs for use as comparators in clinical trials, supply medicines to patients in countries where the product is not licensed or in short supply and provide medicines which are in clinical trials to doctors and hospitals for use in patients who have failed to respond to all other available treatments.
Clinigen also purchases drugs from third parties that have the potential to for a new market to treat diseases.
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