Biovail Appoints Gregory Szpunar Senior Vice President, Research & Development and Chief Scientific Officer.Business Editors/Health/Medical Writers TORONTO--(BUSINESS WIRE)--April 25, 2003 Biovail Corporation (NYSE NYSE See: New York Stock Exchange :BVF BVF Biovail Corporation (stock symbol) BVF Berufsverband der Frauenärzte eV (Muenchen, Germany) BVF Bearing Versus Frequency )(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BVF) announced today that Gregory J. Szpunar, Ph.D., has been appointed Senior Vice President, Research and Development, and Chief Scientific Officer, effective April 21, 2003. Dr. Szpunar will be responsible for directing Biovail's research and development activities as well as the company's manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . Dr. Szpunar will report to Eugene Melnyk, Chairman and Chief Executive Officer, Biovail Corporation. Dr. Szpunar served as Senior Vice President, Product Development at Pharmacia Corporation until its acquisition by Pfizer, which was completed on April 15, 2003. Dr. Szpunar's 19-year tenure in the industry includes participation in and responsibility for directing global R&D operations ranging from early pre-clinical development through Phase IV product support. He has served in direct leadership positions in clinical and pre-clinical pharmacokinetics and drug metabolism Drug Metabolism/Interactions Definition Drug metabolism is the process by which the body breaks down and converts medication into active chemical substances. Precautions Drugs can interact with other drugs, foods, and beverages. , biopharmaceutics research, project management, portfolio analysis, and quality assurance. In addition, Dr. Szpunar has participated in the strategic governance of R&D ranging from early discovery research through product life cycle management. Dr. Szpunar played a pivotal role in the design and implementation of Pharmacia's Customer Focused Product Flow process, which emphasized seamless collaboration between research & development, marketing and sales, manufacturing, and business development resulting in highly coordinated discovery, development, and commercial activities that optimized the commercial and technical potential of each product. Dr. Szpunar holds a Ph.D. in Pharmaceutics from the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. , and a B.S. in Pharmacy from Wayne State University Wayne State University, at Detroit, Mich.; state supported; coeducational; established 1956 as a successor to Wayne Univ. (formed 1934 by a merger of five city colleges). . "Biovail research and development activities are expanding at an unprecedented rate," commented Eugene Melnyk. "We have over 30 disclosed and undisclosed active development programs including numerous ongoing Phase III and Phase IV clinical programs. As well, we are actively exploring many new product development and venture opportunities, all of which require technical and manufacturing assessments. The addition of Dr. Szpunar to Biovail's senior executive team will strengthen its capabilities in this area and will streamline the necessary transition from formulation to full-scale commercial manufacturing." Biovail Corporation is an international full-service pharmaceutical company, engaged in the formulation, clinical testing, registration, manufacture, sale and promotion of pharmaceutical products utilizing advanced drug delivery technologies. For further information, please contact Ken Howling at 905-286-3000 or send inquiries to ir@biovail.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. To the extent any statements made in this release contain information that is not historical, these statements are essentially forward looking and are subject to risks and uncertainties, including the difficulty of predicting FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approvals, acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. |
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