Message #34 From:
NewsBot Date: February 13, 2007 01:30:00 PM
ISPH News Inspire Director Alan F. Holmer Resigns Board Position to Accept Senior Post in Bush Administration
DURHAM, N.C.--(BUSINESS WIRE)--Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH) announced today that Alan F. Holmer has resigned from the Board of Directors of Inspire Pharmaceuticals, Inc., effective February 13, 2007, to accept an appointment in the Bush Administration. Secretary of the Treasury, Henry M. Paulson, Jr., announced that he has appointed Ambassador Holmer as his Special Envoy for China and the Strategic Economic Dialogue. In his new role, he will lead the Administration team that is managing the U.S. bilateral economic relationship with China. Holmer, age 57, joined the Inspire board in June 2005, after retiring as President and Chief Executive officer of the Pharmaceutical Research and Manufacturers of America (PhRMA).
Kenneth B. Lee, Jr., Inspire’s Chairman, stated, “Alan has made enormous contributions to Inspire’s Board during his tenure and has provided valuable insights into the pharmaceutical industry. We are thrilled that Alan’s strong leadership ability and commitment to public service have been recognized in his appointment to this very important role in the Bush administration.”
Ambassador Holmer stated, “As a board member, I have loved my work with my Board colleagues and the Inspire management team. As a parent of two children with cystic fibrosis, I am doubly grateful for Inspire's excellent work in this therapeutic area. I wish them only the very best.”
About Inspire
Inspire is a biopharmaceutical company dedicated to discovering, developing and commercializing prescription pharmaceutical products in disease areas with significant commercial potential and unmet medical needs. The research and development programs of Inspire are driven by extensive scientific experience in the therapeutic areas of ophthalmology and respiratory/allergy, and supported by expertise in the field of P2 receptors. Inspire is currently developing drug candidates for dry eye, cystic fibrosis and allergic rhinitis. Inspire’s U.S. specialty sales force promotes Elestat® (epinastine HCI ophthalmic solution) 0.05% for allergic conjunctivitis and Restasis® (cyclosporine ophthalmic emulsion) 0.05% for dry eye, ophthalmology products developed by Allergan, Inc. Elestat and Restasis are trademarks owned by Allergan. For more information, visit www.inspirepharm.com.
Forward-Looking Statements
The forward-looking statements in this news release relating to management's expectations and beliefs are based on preliminary information and management assumptions. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those relating to product development, revenue, expense and earnings expectations, the seasonality of Elestat, intellectual property rights, adverse litigation developments, adverse developments in the U.S. Securities and Exchange Commission (SEC) investigation, competitive products, results and timing of clinical trials, success of marketing efforts, the need for additional research and testing, delays in manufacturing, funding, and the timing and content of decisions made by regulatory authorities, including the U.S. Food and Drug Administration. Further information regarding factors that could affect Inspire's results is included in Inspire's filings with the SEC. Inspire undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof.
