Amarin Appoints Patrick Holt as President and Chief Executive Officer
18 Julho 2023 - 5:16PM
Amarin Corporation plc (NASDAQ: AMRN) today announced that the
Company’s Board of Directors has appointed Patrick Holt as
President and Chief Executive Officer and as a member of the Board
of Directors, effective immediately. Aaron Berg, who served as
Interim President and CEO since April 2023, will remain with the
Company in a senior leadership role.
Mr. Holt brings more than 25 years of leadership in
the life sciences industry and significant international operating
experience. He most recently served as president of Cordis,
Cardinal Health’s global interventional cardiovascular business
where he led a turnaround of the business, followed by a
transaction process which led to its successful sale. Mr. Holt
previously held a variety of senior executive positions across
biopharmaceuticals and vaccines at Allergan and Merck.
“We are excited to welcome Pat as our new CEO,”
said Odysseas Kostas, M.D., the Chairman of the Board. “Pat’s
international and cardiovascular business experience and track
record of turnaround success are exactly what the Company needs at
this critical time. The Board looks forward to working with Pat to
continue to put Amarin on the best path to maximizing shareholder
value.”
Mr. Holt said, “The science at Amarin is compelling
and aligned to a significant unmet need, and VASCEPA®/VAZKEPA®
maintains meaningful untapped value given its clinical profile and
proven cardiovascular risk reduction and outcomes. Decisive action
is needed to realize Amarin’s full potential, and alongside the
entire Amarin team, I am committed to realizing the opportunities
inherent in the business to maximize value for patients,
physicians, payors and shareholders. I look forward to working with
the Board and leadership team as we evaluate and execute on all
opportunities to enhance value.”
Dr. Kostas concluded, “On behalf of the Board, I
want to thank Aaron for stepping up to lead when he did, working
tirelessly over the last few months toward strengthening the
Company’s global operations. We look forward to him continuing to
contribute in an important way at Amarin.”
About Patrick Holt
Patrick Holt most recently served as president of
Cordis, Cardinal Health’s global interventional cardiovascular
business and as member of Cardinal Health Inc’s global operating
committee. In this role, Mr. Holt led a successful turnaround that
included a return to revenue growth, a refocused R&D strategy,
as well as sustained enhancements in operational effectiveness
delivering margin expansion. Subsequently, he led the transaction
process which culminated in the sale of Cordis to Hellman &
Friedman in 2021 for an enterprise value in excess of $1 billion.
He also previously served as president of Cardinal Health in
Asia-Pacific. Prior to his time at Cardinal Health, he served in a
variety of senior executive positions across biopharmaceuticals and
vaccines at Allergan and Merck. Mr. Holt is an independent
non-executive director and audit committee member of Hugel, Inc., a
publicly listed biopharmaceutical company and global leader in
medical aesthetics. He earned a bachelor’s degree in biochemistry
and chemistry from Monash University, Australia and is a graduate
of Harvard Business School.
About Amarin
Amarin is an innovative pharmaceutical company
leading a new paradigm in cardiovascular disease management. Amarin
is committed to increasing the scientific understanding of the
cardiovascular risk that persists beyond traditional therapies and
advancing the treatment of that risk for patients worldwide. Amarin
has offices in Bridgewater, New Jersey in the United States, Dublin
in Ireland, Zug in Switzerland, and other countries in Europe as
well as commercial partners and suppliers around the world.
Forward-Looking StatementsThis
press release contains forward-looking statements, within the
meaning of U.S. securities laws, including, but not limited to,
expectations regarding Amarin’s financial performance, metrics, and
initiatives, including its 2023 revenues, operating expenses,
supply purchases, negotiations and settlements, product
prescriptions and managed care coverage, continued savings from
cost-cutting initiatives that is currently exceeding initial
targets, and Amarin’s overall ability to continue to deliver stable
revenues and cash position from its U.S. business; beliefs about
the timing and outcome of international commercial partnerships,
regulatory filings, reviews, recommendations, approvals, and
related reimbursement decisions and commercial launches of
VASCEPA/VAZKEPA outside of the U.S.; beliefs that Amarin’s current
resources are sufficient to fund projected operations; and beliefs
about the overall world-wide market potential and success of
VASCEPA/VAZKEPA generally. These forward-looking statements are not
promises or guarantees and involve substantial risks and
uncertainties. A list and description of these risks, uncertainties
and other risks associated with an investment in Amarin can be
found in Amarin’s filings with the U.S. Securities and Exchange
Commission, including Amarin’s most recent quarterly report on Form
10-Q for the quarter ended March 31, 2023. Existing and prospective
investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date they
are made. Amarin undertakes no obligation to update or revise the
information contained in its forward-looking statements, whether as
a result of new information, future events or circumstances or
otherwise. Amarin’s forward-looking statements do not reflect the
potential impact of significant transactions the company may enter
into, such as mergers, acquisitions, dispositions, joint ventures
or any material agreements that Amarin may enter into, amend or
terminate.
Availability of Other Information About
AmarinInvestors and others should note that Amarin
communicates with its investors and the public using the company
website (www.amarincorp.com), the investor relations website
(amarincorp.gcs-web.com), including but not limited to investor
presentations and investor FAQs, U.S. Securities and Exchange
Commission filings, press releases, public conference calls and
webcasts. The information that Amarin posts on these channels and
websites could be deemed to be material information. As a result,
Amarin encourages investors, the media, and others interested in
Amarin to review the information that is posted on these channels,
including the investor relations website, on a regular basis. This
list of channels may be updated from time to time on Amarin’s
investor relations website and may include social media channels.
The contents of Amarin’s website or these channels, or any other
website that may be accessed from its website or these channels,
shall not be deemed incorporated by reference in any filing under
the Securities Act of 1933.
Amarin Contact Information
Investor Inquiries:Jordan Zwick Amarin Corporation
plcIR@amarincorp.com
Media Inquiries:Mark MarmurAmarin Corporation
plcPR@amarincorp.com
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