Assertio Appoints Dr. Howard Franklin as Senior Vice President, Medical

Rhea-AI Summary

Assertio Holdings, Inc. (Nasdaq: ASRT) appointed Dr. Howard J. Franklin as Senior Vice President, Medical, enhancing its leadership team. The company sees substantial opportunities to expand its portfolio, particularly with Indocin, as they prepare for clinical studies planned for 2023. Dr. Franklin’s extensive experience, including previous roles as Chief Medical Officer at Finch Therapeutics and Salix Pharmaceuticals, positions him to develop a comprehensive clinical strategy that leverages Assertio's innovative sales model. The firm aims to create value by expanding addressable markets and acquiring promising assets.

Positive

• Appointment of Dr. Howard J. Franklin, bringing extensive experience to the senior leadership team.
• Expectations to expand market opportunities for Indocin and other key assets.
• Planned clinical studies set for 2023, indicating forward momentum.

Negative

• None.

LAKE FOREST, Ill., March 06, 2023 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq: ASRT), a specialty pharmaceutical company offering differentiated products to patients, today announced the appointment of Howard J. Franklin, MD, as Senior Vice President, Medical.

“We see significant opportunities to expand the addressable market and label indications for key assets in our portfolio, in particular Indocin. We are excited to add Dr. Franklin to our team as we ready clinical studies related to these assets and expect to launch our first clinical investigation later in 2023,” said Dan Peisert, President and Chief Executive Officer of Assertio.

“I am excited to join the team and create a best-in-class clinical development and medical affairs program that builds on the legacy of successful commercial innovation established here at Assertio,” said Dr. Franklin. “Assertio’s existing portfolio includes multiple assets with opportunities to open new or expand existing addressable markets through clinical studies and label expansion, deriving greater value from the application of those molecules. In addition, a robust medical program will support the acquisition of potential molecules that can fit Assertio’s unique, digital focused sales model.”

Dr. Franklin was previously Chief Medical Officer at Finch Therapeutics, a microbiome-based biotechnology firm applying new technologies to the treatment of immuno-oncology, IBD and autism spectrum disorder. He was previously Chief Medical Officer of Salix Pharmaceuticals, a $2 billion division of Bausch Healthcare Corporation with a focus on gastrointestinal medicine, where he shaped and executed clinical, regulatory and medical affairs strategies for a suite of GI-related assets with a focus on lifecycle management. He previously held senior roles at Icon Bioscience, Oceana Therapeutics, The Medicines Company, Esprit Pharmaceuticals and Odyssey Pharmaceuticals.

Dr. Franklin holds a Bachelor of Applied Science, Pre-Medical Studies, from Lehigh University, and a Doctor of Medicine from Drexel University College Medicine. He completed his medical residency in general surgery at Long Island Jewish Medical Center, followed by a fellowship in lapro-endoscopy and minimally invasive surgery at Massachusetts General Hospital, Harvard Medical School. He competed a Master of Business Administration degree at LaSalle University.

About Assertio
Assertio is a specialty pharmaceutical company offering differentiated products to patients utilizing a non-personal promotional model. We have built and continue to build our commercial portfolio by identifying new opportunities within our existing products as well as acquisitions or licensing of additional approved products. To learn more about Assertio, visit www.assertiotx.com.

Forward Looking Statements
Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio's current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, the preliminary, unaudited financial results included in this press release, future events or the future performance or operations of Assertio, including our ability to realize the benefits from our operating model, successfully acquire and integrate new assets and explore new business development initiatives. All statements other than historical facts may be forward-looking statements and can be identified by words such as "anticipate," "believe," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may", "objective," "opportunity," "outlook," "plan," "position," "potential," "predict," "project," "prospective," "pursue," "seek," "should," "strategy," "target," "would," "will," "aim" or other similar expressions that convey the uncertainty of future events or outcomes and are used to identify forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Assertio, including the risks described in Assertio's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC") and in other filings Assertio makes with the SEC from time to time. Investors and potential investors are urged not to place undue reliance on forward-looking statements in this communication, which speak only as of this date. While Assertio may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by applicable law.

Investor Contact
Matt Kreps
Darrow Associates
M: 214-597-8200
mkreps@darrowir.com

FAQ

Who is Dr. Howard J. Franklin, and what is his role at Assertio?

Dr. Howard J. Franklin has been appointed as Senior Vice President, Medical, at Assertio, bringing his extensive experience in clinical development.

What clinical studies is Assertio planning for 2023?

Assertio is preparing to launch its first clinical investigation related to its key assets later in 2023.

What are the expected impacts of Dr. Franklin's appointment on Assertio?

Dr. Franklin's appointment is expected to strengthen Assertio's clinical development and expand market opportunities.

How does Assertio plan to expand its portfolio?

Assertio plans to expand its portfolio by focusing on clinical studies for key assets and acquiring new products that fit its sales model.