Tuesday, February 18, 2014

Ipsen implements a new governance in the United States to prepare for the launch of Somatuline® in oncology

CED is proud to announce that Cynthia Schwalm will be taking on a new role to head up Ipsen’s US Operations in Endocrinology and Oncology. Cynthia is currently a mentor in CED’s Venture Mentoring Service (www.cednc.org/vms). We are pleased to have mentors of this caliber working with entrepreneurs in the CED community. 

Press Release on the Announcement: (Courtesy of Ipsen)

Paris (France), January 22, 2014 – Ipsen (Euronext: IPN; ADR: IPSEY) today announced new governance in the United States, following its recently announced decision to launch Somatuline® for oncology indications. Marc de Garidel will personally oversee this projected launch. Cynthia Schwalm will join Ipsen's US Operations to head up the Endocrinology/Oncology Business Unit as of 3 February, 2014. As of mid-August 2014, she will take over as General Manager of the US commercial affiliate. Marc de Garidel, Chairman and CEO, Ipsen, said: "Addressing the 500 million dollars GEPNET1 market in the US represents a key opportunity for the Group to build a long term presence in oncology. With the decision to launch Somatuline® alone, Ipsen reiterated its strong commitment to growing the US platform. In this regard, we are delighted to announce the recruitment of Cynthia Schwalm to strengthen the leadership of our US operations. Cynthia is a highly recognized executive with over 30 years of experience in oncology and in neurology and an in-depth knowledge of the US market."

The new governance of US commercial operations will be implemented as follows:
  • Marc de Garidel will act as both Chairman and CEO of the Ipsen Group and General Manager of the US affiliate until mid-August 2014. 
  •  As of 3 February 2014, Cynthia Schwalm will join Ipsen as Head of the Endocrinology/Oncology Business Unit. 
  •  As of mid-August 2014, Cynthia Schwalm will officially take up her responsibilities as US General Manager.
About Cynthia Schwalm
Cynthia Schwalm is a US citizen with over 30 years of experience in oncology and neurology. She has an in-depth knowledge of the American market. Her entire career has been spent in various pharmaceutical companies: Merz since 2012; Optimer Pharmaceuticals in 2011-2012; Eisai from 2008 to 2010; Amgen from 2003 to 2008; Johnson & Johnson from 1985 to 2003, notably in the Ortho Biotech division. Cynthia holds an executive MBA from the Wharton School of Business, University of Pennsylvania, Philadelphia, and is a graduate of the University of Delaware, Newark.

About Ipsen
Ipsen is a global specialty-driven pharmaceutical company with total sales exceeding €1.2 billion in 2012. Ipsen’s ambition is to become a leader in specialty healthcare solutions for targeted debilitating diseases. Its development strategy is supported by 3 franchises: neurology, endocrinology and urology-oncology. Moreover, the Group has an active policy of partnerships. Ipsen's R&D is focused on its innovative and differentiated technological platforms, peptides and toxins. In 2012, R&D expenditure totaled close to €250 million, representing more than 20% of Group sales. The Group has close to 4,900 employees worldwide. Ipsen’s shares are traded on segment A of Euronext Paris (stock code: IPN, ISIN code: FR0010259150) and eligible to the “Service de Règlement Différé” (“SRD”). The Group is part of the SBF 120 index. Ipsen has implemented a Sponsored Level I American Depositary Receipt (ADR) program, which trade on the over-the-counter market in the United States under the symbol IPSEY. For more information on Ipsen, visit www.ipsen.com.

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