Assertio Holdings, Inc. Appoints Paul Schwichtenberg to New CTO Role, Mary Pietryga as CCO
Assertio Holdings (NASDAQ: ASRT) announced key leadership changes with the creation of a new Transformation Office. Paul Schwichtenberg, current Chief Commercial Officer and former CFO, has been appointed as Chief Transformation Officer (CTO). In his previous roles, Schwichtenberg implemented efficiency measures, pricing strategies, and debt refinancing that improved profitability and strengthened the company's balance sheet.
Mary Pietryga will assume the role of Chief Commercial Officer effective December 16, 2024. Pietryga joins from Teva Pharmaceuticals, where she served as VP and Head of Global Biosimilar Portfolio. Her experience includes leadership positions at Peregrine Market Access, Pacira Biosciences, and other major pharmaceutical companies.
Assertio Holdings (NASDAQ: ASRT) ha annunciato cambiamenti significativi nella leadership con la creazione di un nuovo Ufficio di Trasformazione. Paul Schwichtenberg, attuale Direttore Commerciale e ex CFO, è stato nominato Direttore della Trasformazione (CTO). Nei suoi precedenti incarichi, Schwichtenberg ha implementato misure di efficienza, strategie di pricing e rifinanziamenti del debito che hanno migliorato la redditività e rinforzato il bilancio dell'azienda.
Mary Pietryga assumerà il ruolo di Direttore Commerciale a partire dal 16 dicembre 2024. Pietryga proviene da Teva Pharmaceuticals, dove ha ricoperto il ruolo di VP e Responsabile del Portafoglio Globale di Biosimilari. La sua esperienza include posizioni dirigenziali presso Peregrine Market Access, Pacira Biosciences e altre importanti aziende farmaceutiche.
Assertio Holdings (NASDAQ: ASRT) anunció cambios clave en su liderazgo con la creación de una nueva Oficina de Transformación. Paul Schwichtenberg, actual Director Comercial y ex CFO, ha sido nombrado Director de Transformación (CTO). En sus funciones anteriores, Schwichtenberg implementó medidas de eficiencia, estrategias de precios y refinanciación de deuda que mejoraron la rentabilidad y fortalecieron el balance de la empresa.
Mary Pietryga asumirá el cargo de Directora Comercial a partir del 16 de diciembre de 2024. Pietryga se une desde Teva Pharmaceuticals, donde fue VP y Jefa del Portafolio Global de Biosimilares. Su experiencia incluye puestos de liderazgo en Peregrine Market Access, Pacira Biosciences y otras importantes compañías farmacéuticas.
Assertio Holdings (NASDAQ: ASRT)는 새로운 변혁 사무소를 생성하여 주요 리더십 변화를 발표했습니다. Paul Schwichtenberg, 현재 상업 이사이자 이전 CFO는 변혁 이사(CTO)로 임명되었습니다. 이전 역할에서 Schwichtenberg는 수익성 개선과 회사의 재무 건전성을 강화하는 효율성 조치, 가격 전략 및 부채 재조정을 시행했습니다.
Mary Pietryga는 2024년 12월 16일부터 상업 이사 역할을 맡게 됩니다. Pietryga는 Teva Pharmaceuticals에서 글로벌 바이오시밀러 포트폴리오 VP 및 책임자로 근무했습니다. 그녀의 경험에는 Peregrine Market Access, Pacira Biosciences 및 기타 주요 제약 회사에서의 리더십 직책이 포함됩니다.
Assertio Holdings (NASDAQ: ASRT) a annoncé des changements clés au sein de sa direction avec la création d'un nouveau Bureau de transformation. Paul Schwichtenberg, actuel Directeur commercial et ancien CFO, a été nommé Directeur de la transformation (CTO). Dans ses fonctions antérieures, Schwichtenberg a mis en œuvre des mesures d'efficacité, des stratégies tarifaires et un refinancement de la dette qui ont amélioré la rentabilité et renforcé le bilan de l'entreprise.
Mary Pietryga assumera le rôle de Directrice commerciale à compter du 16 décembre 2024. Pietryga rejoint Teva Pharmaceuticals, où elle a occupé le poste de VP et Responsable du portefeuille mondial de biosimilaires. Son expérience inclut des postes de direction chez Peregrine Market Access, Pacira Biosciences et d'autres grandes entreprises pharmaceutiques.
Assertio Holdings (NASDAQ: ASRT) gab bedeutende Veränderungen in der Unternehmensleitung bekannt, einschließlich der Schaffung eines neuen Transformationsbüros. Paul Schwichtenberg, derzeitiger Vertriebsleiter und ehemaliger CFO, wurde zum Chief Transformation Officer (CTO) ernannt. In seinen vorherigen Rollen implementierte Schwichtenberg Effizienzmaßnahmen, Preisstrategien und die Refinanzierung von Schulden, die die Rentabilität verbesserten und die Bilanz des Unternehmens stärkten.
Mary Pietryga wird ab dem 16. Dezember 2024 die Rolle des Vertriebsleiters übernehmen. Pietryga kommt von Teva Pharmaceuticals, wo sie als VP und Leiterin des Global Biosimilar Portfolio tätig war. Ihre Erfahrung umfasst Führungspositionen bei Peregrine Market Access, Pacira Biosciences und anderen großen Pharmaunternehmen.
- Creation of new Transformation Office focused on growth and revenue strategies
- Appointment of experienced internal executive with proven track record of improving profitability
- Previous successful debt refinancing strengthened balance sheet
- Portfolio revenue stabilization achieved after Rolvedon acquisition
- Generic competition impact on Indocin product line
CTO Role to Focus on Growth from New Market and Revenue Strategies
LAKE FOREST, Ill., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq: ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced today the creation of a new Transformation Office and the appointment of Paul Schwichtenberg as Chief Transformation Officer (CTO). Mr. Schwichtenberg currently serves as the company’s Chief Commercial Officer and was previously CFO.
“As CTO, Paul will be future looking, working closely with me, to identify synergies, innovative strategies, and new revenue streams to best position the company for future growth,” said Brendan O’Grady, Chief Executive Officer of Assertio Holdings. “Paul brings a wealth of experience to this new position from his prior pharmaceutical leadership roles and as the prior CFO and current CCO of Assertio. As CFO, Paul delivered organizational efficiencies and pricing strategies that led to higher profitability and operating cash flow. Additionally, during Paul’s tenure as CFO, he executed a debt refinancing which strengthened the balance sheet for the company. Under Paul’s leadership as CCO over the last year, the company was able to stabilize portfolio revenue after the acquisition of Rolvedon and generic competition for Indocin. I am excited for Paul to move into this role and look forward to the many positive contributions he will make as we work to rapidly evolve our business and position Assertio for continued success.”
In addition, Mary Pietryga will be appointed as Chief Commercial Officer, effective December 16, 2024, with responsibility for sales, marketing and commercial access, taking over from Schwichtenberg.
Ms. Pietryga joins Assertio from Teva Pharmaceuticals, where she was Vice President and Head of the Global Biosimilar Portfolio. In her role, she led a redesign of the global asset portfolio and created a multi-year framework to increase revenue and drive new partnerships. She has also served as Chief Commercial Officer at Peregrine Market Access, leading contract teams delivering end-to-end, fully integrated, CRO and commercial solutions. Previously she was Vice President of Global Marketing at Pacira Biosciences, driving portfolio growth performance through demand generation. She has held leadership and commercial roles in specialty medicines and other categories at Ferring Pharmaceutical, Collegium, Sanofi, Janssen Ortho-McNeil and Merck & Co. She holds a Bachelor of Arts from Michigan State University and a Master of Business Administration from Villanova University.
“I am pleased to welcome Mary to the team at Assertio, bringing decades of expertise in the commercial drivers of innovative medicines,” said O’Grady. “In previous opportunities working together, she has consistently delivered portfolio solutions, innovative marketing strategies, market access, and sales programs that achieved substantial revenue growth and operating margin targets across multiple pharmaceutical categories.”
About Assertio
Assertio is a commercial pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients. We have built our commercial portfolio through acquisition or licensing of approved products. Our commercial capabilities include marketing through both a sales force and a non-personal promotion model, market access through payor contracting, and trade and distribution. 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, future events or the future performance or operations of Assertio, including risks related to the subject matter of this communication and our ability to realize the benefits from our operating model, deliver or execute on our business strategy, including to expand or diversify our asset base and market reach and drive cash flows and growth, successfully 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, Managing Director
Darrow Associates
M: 214-597-8200
mkreps@darrowir.com
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