Antares Pharma Appoints Joseph Renda as Senior Vice President of Commercial
Antares Pharma (NASDAQ: ATRS) appointed Joseph V. Renda as Senior Vice President of Commercial, succeeding Patrick Shea. Renda brings extensive experience from leadership roles at Mallinckrodt Pharmaceuticals, Novo Nordisk, and Pfizer, boasting a track record of driving over $1B in sales. CEO Robert F. Apple expressed optimism for Renda's ability to enhance growth, particularly with key products like XYOSTED and NOCDURNA. Renda aims to leverage his background in sales and marketing to capitalize on opportunities in attractive markets while ensuring a smooth transition in leadership.
- Joseph Renda's extensive commercial background is expected to strengthen leadership and strategic initiatives.
- Renda's previous roles involve leading large sales teams and driving significant revenue, which could enhance Antares' growth prospects.
- The resignation of Patrick Shea may raise concerns about continuity in leadership and strategic direction.
EWING, N.J., May 06, 2021 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ: ATRS) (“the Company”), a specialty pharmaceutical company, today announced the appointment of Joseph V. Renda as Senior Vice President of Commercial. Mr. Renda succeeds Patrick Shea who resigned to pursue other interests.
Mr. Renda has had a successful career in leading commercial sales, marketing, and operations at large and mid-sized pharmaceutical companies. Prior to joining Antares, Mr. Renda was Vice President, U.S. Sales Autoimmune and Rare Disease at Mallinckrodt Pharmaceuticals where he led a 200-person organization responsible for over
Robert F. Apple, President and Chief Executive Officer of Antares Pharma, commented, “We are excited to welcome Joe to Antares. We believe his extensive commercial background aligns with our strategic initiatives to enhance the strong growth trajectory of our proprietary portfolio with our flagship product XYOSTED and our recently launched NOCDURNA. Joe’s proven success in sales, marketing and sales operations across therapeutic areas will be instrumental in leading our sales organization and commercial activities. We expect a seamless transition and remain enthusiastic about the growth opportunities across our business.”
Mr. Renda, added, “I am honoured with the opportunity to lead the U.S. commercial team at Antares and build upon their success to date. I believe their proprietary assets are well positioned in attractive markets and will continue to capture market share. I look forward to leveraging my extensive sales, marketing, and operations experience and contributing to the next phase of their growth with an expanded portfolio.”
About Antares Pharma
Antares Pharma, Inc. is a specialty pharmaceutical company focused primarily on the development and commercialization of pharmaceutical products and technologies that address unmet needs in targeted therapeutic areas such as urology and endocrinology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma’s FDA-approved products include XYOSTED® (testosterone enanthate) injection, OTREXUP® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the success of Mr. Renda as SVP, Commercial and future sales; the Company’s ability to achieve the 2021 full-year revenue guidance; the uncertainty regarding the ongoing COVID-19 pandemic, including new strains of the virus, and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, clinical trials, and our overall business, operating results and financial condition; commercial success of XYOSTED® and future revenue from the same; market acceptance of Teva’s generic epinephrine auto-injector product and future revenue from the same; future prescriptions and sales of OTREXUP® ; successful commercialization of NOCDURNA® in the U.S. and market acceptance and future revenue from the same; whether the FDA will withdraw marketing approval for AMAG Pharmaceuticals’ Makena® subcutaneous auto injector following the FDA letter seeking withdrawal, whether AMAG will be granted an appeal hearing and if granted, whether Makena® will be successful and future prescriptions, market acceptance and revenue from the same; Teva’s ability to successfully commercialize VIBEX® Sumatriptan Injection USP and the amount of revenue from the same; Teva’s ability to successfully commercialize generic teriparatide in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva’s pending ANDAs for both generic Forteo® and Exenatide and future revenue from the same; the timing and results of the Company’s or its partners’ research projects or clinical trials of product candidates in development including the Company’s endocrinology and urology assets in development as well as Pfizer’s undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company’s products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company’s ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company’s ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.
Contact:
Tram Bui
Vice President, Corporate Communications and Investor Relations
609-359-3016
tbui@antarespharma.com
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