Biote Names John Denne as General Manager, Men’s Health Division

Rhea-AI Summary

Biote (NASDAQ: BTMD) announced the appointment of John Denne as General Manager of its Men’s Health Division, a move aimed at expanding the company's footprint in the male hormone replacement therapy market. Denne brings over 30 years of healthcare experience, having previously driven commercial success at Endo International in Men’s Health. Terry Weber, CEO of Biote, expressed excitement over Denne’s track record in brand recognition and sustainable growth. Denne echoed these sentiments, highlighting the significant opportunity in hormone replacement therapy for men, which remains largely unmet. Biote operates in a $7 billion global market focused on hormone optimization therapies, and this leadership change is anticipated to accelerate their growth initiatives.

Positive

• Appointment of experienced healthcare veteran John Denne to lead the Men’s Health Division.
• Expansion into the growing male hormone replacement therapy market.
• Potential to capitalize on a $7 billion global market for hormone optimization therapies.

Negative

• None.

Mr. Denne to Accelerate Biote’s Expansion into Men’s Hormone Replacement Therapy Market

IRVING, Texas--(BUSINESS WIRE)-- Biote (NASDAQ: BTMD), a leading solutions provider in preventive health care through the delivery of personalized hormone therapy, today announced that John Denne has joined the Company as General Manager, Men’s Health Division. In this role, Denne will lead Biote’s sales initiatives to expand the Company’s presence in the growing market for male hormone replacement therapy.

A healthcare industry veteran, Denne joins Biote with more than 30 years of experience in sales, business development, strategic marketing and management. As Senior Director of Commercial Development at Endo International plc, a global specialty pharmaceuticals company, Denne was instrumental in driving the commercial success of new treatments in Men’s Health and Men’s Sexual Health division at the firm.

“We’re thrilled to have John join the Biote team as we strengthen our focus on serving the men’s hormone replacement therapy market,” said Terry Weber, Biote Chief Executive Officer. “John has demonstrated an impressive track record of success in building brand recognition and helping companies scale business divisions to drive sustainable growth. We believe his extensive experience and leadership capabilities will accelerate our expansion into the substantial and underserved market for men’s health.”

“I am excited to join Biote at this pivotal time of growth and expansion for the company. Hormone replacement therapy represents a safe and effective treatment option for millions of men, and I am eager to lead Biote’s strategic efforts to fulfill this largely unmet medical need,” Mr. Denne stated.

Mr. Denne began his career at Bristol Myers-Squibb, and subsequently held various sales, marketing and management roles at healthcare and pharmaceutical companies including Roche Pharmaceuticals, Sunovion Pharmaceuticals, Biopharm Communications and Auxilium / Endo Pharmaceuticals.

About Biote

Biote is transforming healthy aging through innovative, personalized hormone optimization therapies delivered by Biote-certified medical providers. Biote trains practitioners how to identify and treat early indicators of hormone-related aging conditions, an underserved $7 billion global market, providing affordable symptom relief for patients and driving clinic success for practitioners.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “may,” “can,” “should,” “will,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “hope,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “might,” “ongoing,” “potential,” “predict,” “would” and other similar expressions, are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual results or developments to differ materially from those expressed or implied by such forward-looking statements, including but not limited to: the success of our dietary supplements to attain significant market acceptance among clinics, practitioners and their patients; our customers’ reliance on certain third parties to support the manufacturing of bio-identical hormones for prescribers; our and our customers’ sensitive to regulatory, economic, environmental and competitive conditions in certain geographic regions; our ability to increase the use by practitioners and clinics of the Biote Method at the rate that we anticipate or at all; our ability to grow our business; the significant competition we face in our industry; our limited operating history; our ability to protect our intellectual property; the unpredictability of the effects of the COVID-19 pandemic; the heavy regulatory oversight in our industry; changes in applicable laws or regulations; the inability to profitably expand in existing markets and into new markets; the possibility that we may be adversely impacted by other economic, business and/or competitive factors, including recent bank failures; and future exchange and interest rates. The foregoing list of factors is not exhaustive.. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Biote’s Annual Report on Form 10-K for the year ended December 31, 2022 and other documents filed by Biote from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Biote assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Biote does not give any assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230410005126/en/

Investor Relations:

Eric Prouty

AdvisIRy Partners

eric.prouty@advisiry.com

Media:

Press@biote.com

Source: Biote

FAQ

What is Biote's recent announcement regarding John Denne?

Biote announced the appointment of John Denne as General Manager of the Men’s Health Division to expand into the male hormone replacement therapy market.

What experience does John Denne bring to Biote?

John Denne has over 30 years of experience in healthcare, including significant roles in sales and development at Endo International.

What market is Biote targeting with John Denne's appointment?

Biote is targeting the male hormone replacement therapy market, which is a part of a $7 billion global hormone optimization market.

How does Biote plan to grow its business?

Biote plans to grow its business by leveraging John Denne's expertise to enhance brand recognition and drive sustainable growth in men's health.

What does the appointment of John Denne signify for Biote's future?

The appointment signifies Biote's commitment to fulfilling the unmet medical needs in men's hormone replacement therapy and aims to enhance its market presence.