CORONA, Calif., Nov. 16 Watson Pharmaceuticals,Inc. (NYSE: WPI), a leading specialty pharmaceutical company, today announcedthe appointment of Mark W. Durand, 48, as Senior Vice President and ChiefFinancial Officer.
Mr. Durand brings to Watson more than 20 years of executive pharmaceuticalexperience in finance, operations, business development and marketing. AsSenior Vice President and Chief Financial Officer for Watson, Mr. Durand willbe responsible for all of the Company's financial operations and will play aprincipal role in Watson's corporate development activities. He will reportdirectly to Paul Bisaro, Watson's President and Chief Executive Officer.
"We are excited to bring someone with Mark's experience to join theexecutive management team," said Paul Bisaro. "His extensive experience inboth the generic and branded pharmaceutical industries and familiarity withour business model will complement the strength we have within our finance andcorporate development groups as we continue to position Watson for futuregrowth."
Mr. Durand joins Watson following his position as Chief Financial Officerand Senior Vice President Finance and Business Development for TevaPharmaceuticals N.A., where he was responsible for all financial functions andbusiness development activities related to Teva's North America operations,including licensing activities. He also played an integral role in theintegration of Ivax Pharmaceuticals after it was acquired by Teva. Prior tohis tenure at Teva, Mr. Durand held a number of positions of growingresponsibility in the areas of finance, business development and marketing atBristol-Myers Squibb. His financial roles there included Vice President USPharmaceutical Group and Vice President Finance and Business Development forBristol's Worldwide Consumer Medicines and Specialty Pharmaceuticals Division.
Mr. Durand received a Bachelor of Science degree in Zoology from DukeUniversity, a Master of Science degree in Biological Sciences from DartmouthCollege and a Master of Business Administration from the University ofChicago.
Any statements contained in this press release that refer to future eventsor other non-historical facts are forward-looking statements that reflectWatson's current perspective of existing trends and information as of the dateof this release. Except as expressly required by law, Watson disclaims anyintent or obligation to update these forward-looking statements. Actualresults may differ materially from Watson's current expectations dependingupon a number of factors affecting Watson's business. These factors include,among others, risks and uncertainties detailed in Watson's periodic publicfilings with the Securities and Exchange Commission, including but not limitedto Watson's Annual Report on Form 10-K for the year ended December 31, 2006.
SOURCE Watson Pharmaceuticals, Inc.