Message #59 From:
NewsBot Date: March 23, 2007 04:00:00 AM
DEPO News Depomed Appoints David Zenoff to Board of Directors
MENLO PARK, Calif.--(BUSINESS WIRE)--Depomed, Inc. (NASDAQ:DEPO) announced today that David B. Zenoff has been appointed to the company’s board of directors. Dr. Zenoff brings to Depomed over 30 years of experience consulting on corporate strategy and organizational development for both small and large multinational companies.
“We are pleased to welcome David to the board and look forward to his close involvement as we grow and transition Depomed into a commercial entity,” stated John W. Fara, Ph.D., president, chief executive officer and chairman of Depomed. “David’s vast experience working with companies facing important changes and transitions will be a tremendous asset as we work to further strengthen our business and increase our revenues.”
“I am excited to join Depomed’s board of directors at such a pivotal time in the history of the company,” said Dr. Zenoff. “With two approved products on the market and a promising product pipeline, the company is poised for additional growth and success. I look forward to working with the board and management team to realize the company’s mission of developing improved pharmaceuticals and building shareholder value.”
Dr. Zenoff, 69, has served as president of David B. Zenoff and Associates, a business consulting firm, since 1973. In this role, he has worked closely with senior executives on corporate strategy, leadership and management practices, organization performance, and governance practices. Dr. Zenoff has authored eight books relating to business management and has taught at multiple universities including Stanford University Graduate School of Business, Columbia Graduate School of Business, and IMEDE in Lausanne, Switzerland. Dr. Zenoff is currently a member of the board of directors of Williams-Sonoma, Inc. Dr. Zenoff holds a B.A. from Stanford University, and M.B.A. and doctorate degrees from Harvard University.
Depomed, Inc., is a specialty pharmaceutical company with two approved products on the market and multiple product candidates in its pipeline. The company utilizes its proven, proprietary AcuForm™ drug delivery technology to improve existing oral medications, allowing for extended, controlled release of medications to the upper gastrointestinal tract. Benefits of AcuForm-enhanced pharmaceuticals include the convenience of once-daily administration, improved treatment tolerability and enhanced compliance and efficacy. Glumetza™ (metformin hydrochloride extended release tablets) is approved for use in adults with type 2 diabetes and is being marketed in the United States by King Pharmaceuticals and in Canada by Biovail Corporation. ProQuin® XR (ciprofloxacin hydrochloride) extended release tablets are approved in the United States for the once-daily treatment of uncomplicated urinary tract infections and is marketed by Esprit Pharma. Product candidate Gabapentin GR™ is currently in Phase 3 and Phase 2 clinical development for the treatment of two pain indications, postherpetic neuralgia and diabetic peripheral neuropathy, respectively. A Phase 2 clinical trial of Gabapentin GR in menopausal hot flashes is expected to begin in the second quarter of 2007. Additional information about Depomed may be found at its web site, www.depomedinc.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995.
The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties including, but not limited to, those related to the growth of our business; our product pipeline; the contributions of Dr. Zenoff to our future success; our research and development efforts, including pre-clinical and clinical testing; regulation by the FDA and other government agencies; the timing of regulatory applications and product launches; and other risks detailed in the company's Securities and Exchange Commission filings, including the company's Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
