Connetics Names Greg Vontz President; CEO Tom Wiggans to Be Named as Chairman.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. -- Connetics Corporation (Nasdaq:CNCT CNCT Connect CNCT Certified Network Computer Technician ), a specialty pharmaceutical company that develops and commercializes dermatology products, today announced that Greg Vontz has been appointed by the Board of Directors to the post of President of Connetics, effective immediately; he retains the title of Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Mr. Vontz joined the company in 1999, and has served as Executive Vice-President and Chief Operating Officer since 2001. Tom Wiggans has served as President, Chief Executive Officer and a Director of Connetics since 1994. He will continue to serve as Chief Executive Officer, and will assume the additional responsibility as Chairman effective January 1, 2006. Connetics current Chairman, Kirk Raab, will continue to serve as a director and consultant to the Company following the effective date of Mr. Wiggans' election as Chairman. Commenting on today's announcement, Mr. Raab said, "Connetics' success has been largely due to the quality and determination of its management team. These changes will facilitate consistent leadership as Connetics continues to work toward an exciting and dynamic future. I look forward to continuing to work with the Company and its management team to oversee Connetics' continued success." About Connetics Connetics Corporation is a specialty pharmaceutical company focused on the development and commercialization of innovative therapeutics for the dermatology market. Connetics has branded its proprietary foam drug delivery vehicle VersaFoam(R). The Company's marketed products are OLUX(R) (clobetasol propionate clobetasol propionate (klōbā´t  sol´ prō´pē ) Foam, 0.05%, Luxiq(R) (betamethasone betamethasone /be·ta·meth·a·sone/ (ba?tah-meth´ah-son) a synthetic glucocorticoid, the most active of the antiinflammatory steroids; used topically as the benzoate, dipropionate, or valerate salts as an antiinflammatory, topically or valerate) Foam, 0.12%, Soriatane(R) (acitretin) capsules and Evoclin(TM) (clindamycin) Foam, 1%. Connetics is developing Velac(R) (a combination of 1% clindamycin and 0.025% tretinoin tretinoin /tret·i·noin/ (tret´i-noin?) the all-trans stereoisomer of retinoic acid, used as a topical keratolytic in the treatment of acne vulgaris and disorders of keratinization and administered orally in the treatment of acute ) Gel, for treating acne, Desilux(TM) (desonide) VersaFoam-EF, 0.05% a low-potency topical steroid formulated to treat atopic dermatitis Atopic Dermatitis DefinitionEczema is a general term used to describe a variety of conditions that cause an itchy, inflamed skin rash. Atopic dermatitis, a form of eczema, is a non-contagious disorder characterized by chronically inflamed skin and . Our product formulations aim to improve the management of dermatological diseases and provide significant product differentiation Product Differentiation A source of competitive advantage that depends on producing some item that is regarded to have unique and valuable characteristics. . In our marketed products, these formulations have earned wide acceptance by both physicians and patients due to their clinical effectiveness, high quality and cosmetic elegance. For more information about Connetics and its products, please visit www.connetics.com. Forward Looking Statements Except for historical information, this press release includes "forward-looking statements" within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act. Statements pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to the expected appointment of Mr. Wiggans as Chairman and statements pertaining to Mr. Raab continuing as a director and consultant are forward-looking statements. These forward-looking statements are based on certain assumptions made by Connetics' management based on information conveyed to management by the Company's Board of Directors and by Mr. Raab, and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Connetics' control, and which could cause actual events to differ materially from those expressed in such forward-looking statements. No assurances can be given that these events will occur. Connetics disclaims any intent or obligation to update any forward-looking statements, which represent the judgment of the Company's management as of the date of this release. Press Release Code: (CNCT-G) |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion