CIMA LABS Announces Enhancements to Its Corporate Governance.Business Editors EDEN PRAIRIE Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , Minn.--(BUSINESS WIRE)--May 21, 2003 CIMA LABS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CIMA) today announced enhancements to its corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. . In March, CIMA's board of directors took action to reconstitute re·con·sti·tute tr.v. re·con·sti·tut·ed, re·con·sti·tut·ing, re·con·sti·tutes 1. To provide with a new structure: The parks commission has been reconstituted. 2. board committee membership effective today as follows: Audit Committee: Terrence Glarner (Chairman), John Chappell, Steven Cosler Compensation Committee: John Chappell (Chairman), Terrence Glarner, Joseph Robinson Governance & Nominating Committee: Joseph Robinson (Chairman), John Chappell, Steven Cosler. Said Chairman and Interim Chief Executive Officer Steven B. Ratoff, "The reconstitution of our board committees is an example of CIMA LABS' continuing effort to maintain the highest levels of corporate governance." This afternoon, CIMA will hold its Annual Meeting of Stockholders at the Company's Brooklyn Park, Minnesota Brooklyn Park is a city in Hennepin County, Minnesota, United States. As of 2005, it had a population of 66,408. It is a northwestern suburb of Minneapolis, Minnesota. Geography According to the United States Census Bureau, the city has a total area of 68.8 km² (26. , facility. The following six board members are up for reelection re·e·lect also re-e·lect tr.v. re·e·lect·ed, re·e·lect·ing, re·e·lects To elect again. re at the meeting: - Steven B. Ratoff, Chairman of the Board, Interim Chief Executive Officer, CIMA LABS - John M. Siebert, former President and Chief Executive Officer, CIMA LABS - Terrence W. Glarner, President, West Concord Ventures - Joseph R. Robinson Emeritus Professor Joseph R. Robinson (1939-2006) began his professional education at the College of Pharmacy of Columbia University in New York City which led to B.S. (1961) and M.S. (1963) degrees in pharmacy. , Professor of Pharmacy, University of Wisconsin, Madison - John F. Chappell, President of Eponym ep·o·nym n. A name of a drug, structure, or disease based on or derived from the name of a person. ep , Inc. - Steven D. Cosler, President and Chief Executive Officer, Priority Healthcare Corporation CIMA develops and manufactures prescription and over-the-counter products based upon its proprietary, fast-dissolve drug delivery technologies, OraSolv(R) and DuraSolv(R). Based on its technologies, an active drug ingredient, which the Company frequently taste-masks, is formulated into a new, orally disintegrating dosage form that dissolves quickly in the mouth without chewing or the need for water. CIMA's business involves a dual operating strategy. The Company develops and manufactures fast-dissolve versions of drugs for pharmaceutical company partners for whom CIMA currently produces three branded prescription pharmaceuticals and three over-the-counter brands. CIMA also is developing proprietary products utilizing its fast-dissolve technologies, as well as its new OraVescent(R) enhanced absorption, transmucosal drug delivery system. This press release contains forward-looking statements within the meaning of 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. These statements include, but are not limited to, those relating to the Company's board committees and the Company's ability to strengthen its position as a leading developer of fast-dissolve prescription and over-the-counter pharmaceutical products. A number of factors could cause actual results to differ materially from CIMA's assumptions and expectations. These factors include the successful completion of feasibility projects, consumer acceptance of CIMA's products, the receipt of firm orders for CIMA's products, the success of pharmaceutical companies in marketing CIMA's products, production costs, production yields, agreeing to commercial terms with pharmaceutical companies for new collaborative development and license agreements, capacity utilization of product development and manufacturing resources, the outcome of tests in humans of proposed products, returns on investments, and recognition of income tax benefits. Additional factors that may cause actual results to differ from CIMA's assumptions and expectations include those set forth under the heading "Factors That Could Affect Future Results" included in CIMA's most recent filings with the Securities and Exchange Commission. All forward-looking statements are qualified by, and should be considered in conjunction with, such cautionary statements. |
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