Catherine Owen Adams Succeeds Steve Davis as CEO of Acadia Pharmaceuticals

Rhea-AI Summary

Acadia Pharmaceuticals (Nasdaq: ACAD) has announced that Catherine Owen Adams has succeeded Steve Davis as Chief Executive Officer and joined the company's Board of Directors. Ms. Owen Adams brings over 25 years of pharmaceutical industry experience, including senior commercial leadership roles at Bristol Myers Squibb and Johnson & Johnson.

Ms. Owen Adams most recently served as Senior Vice President and General Manager, U.S., at Bristol Myers Squibb, where she led a $20 billion commercial business. Her extensive experience includes overseeing major product launches and leading large teams across multiple countries. The Board of Directors expressed confidence in her ability to guide Acadia through its next phase of growth, capitalizing on the company's strengths in treating central nervous system disorders and rare diseases.

Positive

• Catherine Owen Adams brings 25 years of pharmaceutical industry experience to Acadia
• Acadia is approaching $1 billion in sales
• The company has a pipeline of medicines in development for central nervous system disorders and rare diseases
• Ms. Owen Adams has experience leading a $20 billion commercial business at Bristol Myers Squibb
• She has overseen major product launches in various therapeutic areas

Negative

• None.

Insights

Pharmaceutical Industry Expert

The appointment of Catherine Owen Adams as CEO of Acadia Pharmaceuticals is a significant development. Her extensive experience in the pharmaceutical industry, particularly in commercial leadership roles at major companies like Bristol Myers Squibb and Johnson & Johnson, brings valuable expertise to Acadia. Her track record of driving growth, overseeing large portfolios and successfully launching new products aligns well with Acadia's current position and future aspirations.

Owen Adams' experience in managing a $20 billion commercial business and leading major product launches in diverse therapeutic areas, including oncology and immunology, could be particularly beneficial for Acadia's growth strategy. Her global experience and success in navigating complex mergers and acquisitions could also prove valuable as Acadia looks to expand its market presence and potentially explore strategic partnerships.

However, investors should note that leadership transitions can sometimes lead to short-term volatility as the new CEO implements their vision. It will be important to monitor any strategic shifts or changes in corporate direction in the coming months.

Market Research Analyst

From a market perspective, this CEO change comes at a critical juncture for Acadia. The company is approaching $1 billion in sales and has a pipeline of medicines in development for central nervous system disorders and rare diseases. Owen Adams' experience in both major markets and specialized therapeutic areas could help Acadia capitalize on its current momentum.

Her background in R&D and manufacturing, combined with her commercial expertise, may help bridge the gap between Acadia's research efforts and market needs. This could potentially accelerate the development and commercialization of new therapies, which is important for maintaining growth in the competitive pharmaceutical landscape.

Investors should watch for any changes in Acadia's market strategy, particularly in areas like product launches, market access and potential expansions into new therapeutic areas or geographical markets. Owen Adams' experience in these areas could lead to new opportunities for revenue growth and market penetration.

- Ms. Owen Adams brings over 25 years of pharmaceutical industry experience including senior commercial leadership roles with Bristol Myers Squibb and Johnson & Johnson

SAN DIEGO--(BUSINESS WIRE)-- Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that Catherine Owen Adams has succeeded Steve Davis as Chief Executive Officer (CEO) and joined the Acadia Board of Directors.

“We are excited to welcome Catherine Owen Adams as the new CEO of Acadia,” said Stephen Biggar, M.D., Ph.D., Chair of the Board of Directors. “Catherine is a proven global leader with a distinguished record of accomplishment of driving growth and innovation in the pharmaceutical industry. Her strategic vision, deep expertise, and unwavering commitment to improving patient outcomes make her the ideal leader to guide Acadia through its next phase of growth and continue to build the value of Acadia, which is a company approaching $1 billion in sales with a compelling pipeline of medicines in development. We are confident that under Catherine’s leadership, Acadia will capitalize on its strengths and expand its impact on the treatment of central nervous system disorders and rare diseases.”

Dr. Biggar continued: “On behalf of the Board and Company, I would like to extend our heartfelt thanks to Steve Davis for his exceptional leadership and for the significant success Acadia has achieved during his tenure as CEO. Steve led the approval and commercialization of NUPLAZID and the development, approval and launch of DAYBUE. His contributions to the biopharmaceutical industry will have a lasting impact on patients' lives for years to come.”

“I am thrilled to join Acadia at such a pivotal and dynamic time for the company,” said Catherine Owen Adams, CEO. “Acadia’s rich history of innovation and its steadfast commitment to improving patients’ lives deeply resonate with my own passion for advancing healthcare. I am inspired by the energy and dedication of the team, and I look forward to working together to drive future growth in our commercial franchises and to accelerate the pipeline, forge new partnerships, and continue delivering impactful therapies that push the boundaries of scientific discovery. I am excited to lead Acadia through its next chapter of innovation and success.”

“Catherine’s deep commercial and global expertise is a perfect fit to execute on Acadia’s mission to elevate the lives of underserved patients and families who suffer from disorders where no drugs have previously been approved,” said Mr. Davis. “I am excited about the future of Acadia and our commitment to these patient groups.”

Catherine Owen Adams brings extensive experience in the pharmaceutical industry to her new role as CEO of Acadia Pharmaceuticals. Most recently, she served as Senior Vice President and General Manager, U.S., at Bristol Myers Squibb (BMS), where she led a $20 billion commercial business, overseeing a large and diverse portfolio of promoted brands across Oncology, Cardiovascular, and Immunology. In this role, she led over 3,000 employees and major product launches in lung cancer, obstructive hypertrophic cardiomyopathy, and psoriasis. Before this, Ms. Owen Adams held the position of Senior Vice President, Head of Major Markets at BMS, where she led commercial operations leading 6,000 employees across 19 countries in Europe, Japan, and Canada during BMS's merger with Celgene. Under her leadership her teams achieved 9 new product launches in Oncology, CAR-T, Hematology, and Immunology, further solidifying her reputation as a global leader in the pharmaceutical space. Prior to her tenure at BMS, Ms. Owen Adams spent 25 years at Johnson & Johnson (J&J) where she held leadership roles across global, U.S., and European business units, with her last position being President, Janssen Immunology U.S. Over her career at J&J, she gained deep experience in marketing, sales, market access, R&D, and internal ventures across both the Pharmaceutical and Medical Technology sectors. Ms. Owen Adams began her career in R&D and manufacturing at AstraZeneca after earning a BSc. in Pharmacy from the University of Manchester, becoming a qualified pharmacist and member of the Royal Pharmaceutical Society (MRPhS). Currently, Ms. Owen Adams serves on the board of directors of Agios Pharmaceuticals, Inc., a publicly held company, and AssistRx, a privately held company. Ms. Owen Adams was formerly on the board of directors and chair of the compensation committee for Optinose PLC, a public specialty pharmaceutical company, and was on the board of directors of Robert Wood Johnson University Hospitals, a non-profit organization.

About Acadia Pharmaceuticals

Acadia is advancing breakthroughs in neuroscience to elevate life. For 30 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only FDA-approved drug to treat hallucinations and delusions associated with Parkinson’s disease psychosis and the first and only FDA-approved drug for the treatment of Rett syndrome. Our clinical-stage development efforts are focused on Prader-Willi syndrome, Alzheimer’s disease psychosis and multiple other programs targeting neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at Acadia.com and follow us on LinkedIn and X.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements other than statements of historical fact and can be identified by terms such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “predicts,” “potential” and similar expressions (including the negative thereof) intended to identify forward-looking statements. Forward-looking statements contained in this press release, include, but are not limited to, statements about our business strategy, objectives and opportunities, including our impact on the treatment of central nervous system disorders and rare diseases and the acceleration of our pipeline and potential new partnerships. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to: our dependency on the continued successful commercialization of NUPLAZID^® and DAYBUE™ and our ability to maintain or increase sales of NUPLAZID or DAYBUE; our plans to commercialize DAYBUE outside the U.S.; the costs of our commercialization plans and development programs, and the financial impact or revenues from any commercialization we undertake; our ability to obtain necessary regulatory approvals for our product candidates and, if and when approved, market acceptance of our products; the risks associated with clinical trials and their outcomes, including risks of unsuccessful enrollment and negative or inconsistent results; our dependence on third-party collaborators, clinical research organizations, manufacturers, suppliers and distributors; the impact of competitive products and therapies; our ability to generate or obtain the necessary capital to fund our operations; our ability to grow, equip and train our specialized sales forces; our ability to manage the growth and complexity of our organization; our ability to maintain, protect and enhance our intellectual property; and our ability to continue to stay in compliance with applicable laws and regulations. Given the risks and uncertainties, you should not place undue reliance on these forward-looking statements. For a discussion of these and other risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ, please refer to our quarterly report on Form 10-Q for the quarter ended June 30, 2024 as well as our subsequent filings with the Securities and Exchange Commission from time to time. The forward-looking statements contained herein are made as of the date hereof, and we undertake no obligation to update them after this date, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240923819068/en/

Investor Contact:

Acadia Pharmaceuticals Inc.

Al Kildani

(858) 261-2872

ir@acadia-pharm.com

Media Contact:

Acadia Pharmaceuticals Inc.

Deb Kazenelson

(818) 395-3043

media@acadia-pharm.com

Source: Acadia Pharmaceuticals Inc.

FAQ

Who is the new CEO of Acadia Pharmaceuticals (ACAD)?

Catherine Owen Adams has been appointed as the new CEO of Acadia Pharmaceuticals, succeeding Steve Davis.

What is Catherine Owen Adams' background before joining Acadia Pharmaceuticals (ACAD)?

Catherine Owen Adams has over 25 years of pharmaceutical industry experience, including senior roles at Bristol Myers Squibb and Johnson & Johnson. Most recently, she was Senior Vice President and General Manager, U.S., at Bristol Myers Squibb.

What is Acadia Pharmaceuticals' (ACAD) current financial status?

According to the press release, Acadia Pharmaceuticals is approaching $1 billion in sales and has a pipeline of medicines in development.

What are the main therapeutic areas Acadia Pharmaceuticals (ACAD) focuses on?

Acadia Pharmaceuticals focuses on developing treatments for central nervous system disorders and rare diseases.