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Skilled R&D leader brings more than two decades of generic and
specialty experience – -
Led development of more than 200 products, including numerous
first-to-file and first-to-market opportunities – -
Expertise in developing complex and difficult-to-formulate generics
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BRIDGEWATER, N.J.–(BUSINESS WIRE)–Amneal Pharmaceuticals, Inc. (NYSE: AMRX), today announced
that the company has appointed Pradeep Bhadauria as Chief
Scientific Officer (CSO), effective immediately. He will succeed current
CSO Dr. Shankar Hariharan, who is leaving Amneal on May 24, 2019.
Pradeep brings significant R&D expertise to Amneal, including more than
20 years leading the development capabilities for several leading
generic and specialty pharmaceutical companies. Throughout his career,
his leadership has resulted in the development and filing of more than
200 products, including numerous first-to-file and first-to-market
opportunities.
“We are excited to have Pradeep join our leadership team at this
important moment for Amneal,” said Rob Stewart, President and CEO of
Amneal. “His deep R&D expertise across nearly all dosage forms and
demonstrated strength in developing complex generics and other
difficult-to-formulate products will be a strong asset to our company as
we continue to diversify our pipeline and portfolio.”
“I would like to thank Shankar for his exceptional contributions during
the last nine years with Amneal,” added Stewart. “His leadership and
vision have helped deliver the company to the strong position it stands
in today, with robust capability and one of the industry’s largest
pipelines. Thanks to his efforts, we are well positioned to continue
evolving Amneal to support further pipeline and portfolio growth.”
“I am thrilled to be joining Amneal at this exciting time for the
company,” said Bhadauria. “I look forward to working closely with
Amneal’s excellent Scientific Affairs team to help advance and expand
the company’s compelling pipeline and continue bringing important
treatment options to patients.”
Pradeep joins Amneal from Apotex, Inc., where he most recently served as
Executive Vice President, Global R&D, responsible for leading the
company’s entire global R&D activities. He also managed a large generic
R&D portfolio across many dosage forms for various global markets. Prior
to joining Apotex, he served as Vice President – Generic R&D for
Allergan/Actavis.
Pradeep holds a Master of Pharmacy (M.Pharm) from the Birla Institute of
Technology in India and a Bachelor of Pharmacy from SGSITS, Devi Ahilya
University in India. He also holds several patents and has published
research in various publications.
About Amneal
Amneal Pharmaceuticals, Inc. (NYSE: AMRX), headquartered in Bridgewater,
NJ, is an integrated pharmaceutical company focused on developing,
manufacturing and distributing generic, brand and biosimilar products.
The Company has approximately 6,500 employees in its operations in North
America, Asia, and Europe, working together to bring high-quality
medicines to patients primarily within the United States.
Amneal is one of the largest and fastest growing generic pharmaceutical
manufacturers in the United States, with an expanding portfolio of
generic products to include complex dosage forms in a broad range of
therapeutic areas. The Company also markets a portfolio of branded
pharmaceutical products through its Specialty Pharma division focused
principally on central nervous system disorders and parasitic
infections. For more information, visit www.amneal.com.
Safe Harbor Statement
Certain statements contained herein, regarding matters that are not
historical facts, may be forward-looking statements (as defined in the
Private Securities Litigation Reform Act of 1995). Such forward-looking
statements include statements regarding management’s intentions, plans,
beliefs, expectations or forecasts for the future, including, among
other things, future operating results and financial performance,
product development and launches, integration strategies and resulting
cost reduction, market position and business strategy. Words such as
“may,” “will,” “could,” “expect,” “plan,” “anticipate,” “intend,”
“believe,” “estimate,” “assume,” “continue,” and similar words are
intended to identify estimates and forward-looking statements.
The reader is cautioned not to rely on these forward-looking statements.
These forward-looking statements are based on current expectations of
future events. If the underlying assumptions prove inaccurate or known
or unknown risks or uncertainties materialize, actual results could vary
materially from the expectations and projections of Amneal
Pharmaceuticals, Inc. (the “Company”). Such risks and uncertainties
include, but are not limited to: the impact of global economic
conditions; our ability to integrate the operations of Amneal
Pharmaceuticals LLC and Impax Laboratories, LLC pursuant to the business
combination completed on May 4, 2018, and our ability to realize the
anticipated synergies and other benefits of the combination; our ability
to successfully develop and commercialize new products; our ability to
obtain exclusive marketing rights for our products and to introduce
products on a timely basis; the competition we face in the
pharmaceutical industry from brand and generic drug product companies,
and the impact of that competition on our ability to set prices; our
ability to manage our growth; our dependence on the sales of a limited
number of products for a substantial portion of our total revenues; the
risk of product liability and other claims against us by consumers and
other third parties; risks related to changes in the regulatory
environment, including United States federal and state laws related to
healthcare fraud abuse and health information privacy and security and
changes in such laws; changes to FDA product approval requirements;
risks related to federal regulation of arrangements between
manufacturers of branded and generic products; the impact of healthcare
reform and changes in coverage and reimbursement levels by governmental
authorities and other third-party payers; the continuing trend of
consolidation of certain customer groups; our reliance on certain
licenses to proprietary technologies from time to time; our dependence
on third party suppliers and distributors for raw materials for our
products and certain finished goods; our dependence on third party
agreements for a portion of our product offerings; our ability to make
acquisitions of or investments in complementary businesses and products
on advantageous terms; legal, regulatory and legislative efforts by our
brand competitors to deter competition from our generic alternatives;
the significant amount of resources we expend on research and
development; our substantial amount of indebtedness and our ability to
generate sufficient cash to service our indebtedness in the future, and
the impact of interest rate fluctuations on such indebtedness; the high
concentration of ownership of our Class A Common Stock and the fact that
we are controlled by a group of stockholders. A further list and
descriptions of these risks, uncertainties and other factors can be
found in the Company’s most recently filed Annual Report on Form 10-K
for the fiscal year ended December 31, 2018, filed on March 1, 2019, and
in the Company’s subsequent filings with the Securities and Exchange
Commission. Copies of these filings are available online at www.sec.gov,
www.amneal.com
or on request from the Company.
Forward-looking statements included herein speak only as of the date
hereof and we undertake no obligation to revise or update such
statements to reflect the occurrence of events or circumstances after
the date hereof.
Contacts
Mark Donohue
Investor Relations and Corporate Communications
(908)
409-6718
www.amneal.com