PALO ALTO, Calif., July 24 Horizon Therapeutics, Inc., aprivately held biopharmaceutical company, today announced that Timothy P.Walbert has been named president, chief executive officer and member of theboard of directors of Horizon Therapeutics.
"Tim has a long, proven track record of successfully commercializingmulti-billion dollar drugs in the pain and arthritis areas," said GeorgeTidmarsh, M.D., Ph.D., founder, scientific consultant and board member ofHorizon. "Tim has the perfect background to lead our company as we movetoward the unblinding of the Phase 3 clinical data for our lead productcandidate HZT-501, a proprietary formulation of ibuprofen combined withfamotidine in a single pill. We are thrilled to have someone of his caliberjoining Horizon."
Mr. Walbert has nearly two decades of executive, general management,marketing and sales experience in the pharmaceutical and biotech industries.Mr. Walbert is currently president and chief executive officer of IDM Pharma(Nasdaq: IDMI), a biopharmaceutical company focused on the development ofinnovative products that activate the immune system to treat cancer. Prior toIDM Pharma, Mr. Walbert served as executive vice president, commercialoperations at NeoPharm, Inc.
Mr. Walbert previously was at Abbott where he served as divisional vicepresident and general manager of Abbott Immunology and divisional vicepresident of global cardiovascular marketing. Under his leadership, he wasresponsible for the creation of Abbott Immunology through the approval, launchand commercialization of HUMIRA(R) for the treatment of rheumatoid arthritisin the United States, Europe and other countries.HUMIRA became the most successful launch in Abbott's history, achieving salesof more than $1.4 billion by 2005 and is expected to exceed $3 billion in2008.
Mr. Walbert also served as director, Celebrex(R) North America andarthritis team leader, Asia Pacific, Latin America and Canada atSearle/Pharmacia. He coordinated Celebrex activities in Canada, Australia,and Latin America where aggregate sales grew to nearly $400 million in 2000,making it one of the most successful pharmaceutical products launched in manyof those countries. Mr. Walbert also held a number of other key marketing andsales positions with Searle/Pharmacia, which included the U.S. launch ofArthrotec(R), a combination arthritis/pain product which generated more than$200 million in first year sales in 1998 and Daypro(R), an arthritis/painproduct which generated more than $300 million in peak U.S. sales.
"I am excited by the opportunity to lead Horizon and help bring a newtherapeutic option to market that may offer patients effective pain reliefwith GI-protection," said Mr. Walbert. "Approximately 25 percent of regularNSAID users may develop stomach ulcers and there continues to be a significantunmet treatment need for effective pain relief while lowering a patient's riskof developing these ulcers. Horizon is well positioned to address this needand become a market leader."
About Horizon Therapeutics
Horizon Therapeutics, Inc. is a late-stage biopharmaceutical companyfocused on the development and commercialization of therapies for thetreatment of mild-to-moderate pain and arthritis. Horizon's clinicalportfolio includes innovative combination therapies in early- and late-stagedevelopment that are designed to improve safety, efficacy, and patientcompliance. For more information about the company and its products, pleasevisit http://www.horizontherapeutics.com.
SOURCE Horizon Therapeutics, Inc.