COLUMBIA LABORATORIES TO ADDRESS STRATEGIC ISSUES
Director Frank Condella to Lead Effort
LIVINGSTON, NJ — July 22, 2009 —Columbia Laboratories, Inc. (Nasdaq: CBRX) today announced that Frank C. Condella, Jr., the most recent addition to the Company’s Board of Directors and a seasoned pharmaceutical executive, will be working closely with management and the Board over the next three months to advise on strategic issues. Mr. Condella will serve a key role in evaluating strategic alliances that would complement Columbia’s current efforts with marketed products and maximize the potential for value creation from the Company’s late-stage R&D pipeline.
Robert S. Mills, Columbia’s president and chief executive officer, stated, “We are pleased that Frank has agreed to devote his time to this effort. Frank’s long time experience in business development and commercial operations in the pharmaceutical industry will serve us well. We look forward to his leadership in this area.”
Mr. Condella was chief executive officer of Skyepharma plc from March 2006 to September 2008, president of European operations at IVAX Corporation from 2002 to February 2006, and president and chief executive officer of Faulding Pharmaceutical Co., from 2000 to 2001. Previously he was vice president of Specialty Care Products at Hoffman-La Roche and vice president and general manager of the Lederle unit of American Home Products.
About Columbia Laboratories
Columbia Laboratories, Inc. is a specialty pharmaceutical company focused on developing and commercializing products for the women’s healthcare and endocrinology markets that use its novel bioadhesive drug delivery technology. Columbia markets CRINONE® 8% (progesterone gel) in the United States for progesterone supplementation as part of an ART treatment for infertile women with progesterone deficiency. The Company also markets STRIANT® (testosterone buccal system) for the treatment of hypogonadism in men. The Company’s partners market CRINONE® 8%, STRIANT®, and three other products to additional U.S. and foreign markets. The Company is conducting, in collaboration with the NIH, the PREGNANT (PROCHIEVE® Extending GestatioN A New Therapy) Study of PROCHIEVE® 8% to reduce the risk of preterm birth in women with a short cervix at mid-pregnancy. For more information, please visitwww.columbialabs.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about Columbia Laboratories, Inc.’s expectations regarding the Company’s strategic direction, prospects and future results, and clinical research programs, which statements are indicated by the words "will," "plan," "expect" and similar expressions. Such forward-looking statements involve certain risks and uncertainties; actual results may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Factors that might cause future results to differ include, but are not limited to, the following: the successful marketing of CRINONE® 8% (progesterone gel) and STRIANT® (testosterone buccal system) in the U.S.; the successful marketing of CRINONE® 8% by Merck Serono, and RepHresh® and Replens® by Lil’ Drug Store Products, Inc; the timely and successful development of PROCHIEVE® 8% to reduce the risk of preterm birth in women with a short cervix in mid-pregnancy; the timely and successful completion of the ongoing Phase III PREGNANT (PROCHIEVE® Extending GestatioN A New Therapy) Study of PROCHIEVE® 8% in short cervix patients; success in obtaining acceptance and approval of new products and new indications for current products by the FDA and international regulatory agencies; our ability to obtain financing in order to fund our operations and repay our debt as it comes due; the impact of competitive products and pricing; the strength of the U.S. dollar relative to international currencies, particularly the Euro; competitive economic and regulatory factors in the pharmaceutical and healthcare industry; general economic conditions; and other risks and uncertainties that may be detailed, from time-to-time, in Columbia’s reports filed with the Securities and Exchange Commission. Columbia Laboratories undertakes no obligation to update any forward-looking statements.
PROCHIEVE®, CRINONE® and STRIANT® are registered trademarks of Columbia Laboratories, Inc.
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Columbia Laboratories, Inc.
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Investor and Media Contact:
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Lawrence A. Gyenes |
Melody A. Carey, |
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Senior Vice President, Chief Financial & Treasurer |
Co-President, Rx Communications, LLC |
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(973) 486-8860 |
(917) 322-2571 |
News Source : COLUMBIA LABORATORIES TO ADDRESS STRATEGIC ISSUES
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