Ostex announces appointment of new president and chief operating officer; Merck veteran Robert Glaser tapped to fill newly-created position.SEATTLE--(BUSINESS WIRE)--April 11, 1996--Ostex International Inc. (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 :OSTX) today announced that pharmaceutical industry veteran Robert J. Glaser has joined the company as president and 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. . Glaser, who will also be a member of the Ostex board of directors, will report directly to Ray Cairncross, chairman and chief executive officer. In his most recent position at Merck & Co, (NYSE NYSE See: New York Stock Exchange :MRK MRK Merck & Company (stock symbol) MRK Mayer-Rokitansky-Kuster (anomaly) MRK Manual Remote Keying ), Glaser was senior vice president, marketing, of Merck's U.S. Human Health division, responsible for all osteoporosis-related products and services. In particular, Glaser was responsible for the commercial launch of Fosamax(R), Merck's new-anti resorptive therapeutic drug for osteoporosis osteoporosis (ŏs'tēō'pərō`sĭs), disorder in which the normal replenishment of old bone tissue is severely disrupted, resulting in weakened bones and increased risk of fracture; osteopenia . "We are extremely pleased to have Bob Glaser join our team at Ostex," said Ray Cairncross, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ostex. "This high-level addition to our organization is a crucial step in our long-term strategic plan. Bob's management expertise and experience in the area of osteoporosis will be a great benefit to our efforts to gain acceptance of Osteomark(R) as the `gold standard' for bone loss testing in the medical community, both domestically and internationally." Glaser added, "Osteomark is the most significant and promising diagnostic product in the area of bone disease I have been involved with. Having been intimately involved with Ostex as a corporate partner and board member, I am delighted to have the opportunity to show my commitment to and confidence in the company and its technology by joining its management team." In his new position at Ostex, Glaser will be primarily responsible for corporate strategy development focusing on the worldwide marketing and strategic partnering campaign currently underway to launch the Osteomark test. Ostex is presently engaged in a variety of agreements with companies including Merck, Laboratory Corp. of America(TM) Holdings, Wyeth-Ayerst Laboratories, Mochida Pharmaceuticals Co. Ltd., Johnson & Johnson Clinical Diagnostics, Corning Clinical Laboratories and SmithKline Beecham Clinical Laboratories. Glaser will oversee all day-to-day operations at the company including sales, support, marketing and research and development. Glaser advanced through a variety of sales, marketing and management positions at Merck & Co. since joining its Merck Sharp & Dohme division in 1974. He holds a master of management degree from the JL Kellogg Graduate School of Management, Northwestern University Northwestern University, mainly at Evanston, Ill.; coeducational; chartered 1851, opened 1855 by Methodists. In 1873 it absorbed Evanston College for Ladies. , and a bachelor of arts degree from Gettysburg College Gettysburg College is a private national four-year liberal arts college founded in 1832, in Gettysburg, Pennsylvania, adjacent to the famous battlefield. . Ostex International Inc. is engaged in the discovery and development of diagnostics and therapeutics for diseases of the skeleton. The company believes its lead product, Osteomark, incorporates breakthrough technology in the area of bone resorption Bone resorption is the process by which osteoclasts break down bone and release the minerals, resulting in a transfer of calcium from bone fluid to the blood. The osteoclasts are multi-nucleated cells that contain numerous mitochondria and lysosomes. measurement, and that early detection of bone loss can lead to better clinical management of osteoporosis. An estimated 100 million people worldwide are at risk for osteoporosis. The company and its corporate partners are currently running free bone loss testing programs in selected U.S. cities. -0- Ostex news releases are available via facsimile on the company's News-On-Demand service by calling 800/356-8061 or on the World Wide Web at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. http://www.hnt.com/bizwire/cnn/451.htm CONTACT: Ostex International Inc., Seattle John Brenneman, 206/292-8082 or Lippert/Heilshorn & Associates Lillian Armstrong, 415/955-2735 |
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