MENLO PARK, Calif., Oct. 9, 2012 /PRNewswire/ -- Depomed, Inc. (NASDAQ: DEPO) today announced the appointment of Samuel R. Saks, M.D., 57, to the Company's Board of Directors. Dr. Saks is a former co-founder and CEO of Jazz Pharmaceuticals and the former Senior Vice President, Medical Affairs and Group Vice President of Alza Corporation, and has more than 25 years of experience developing specialty pharmaceutical products.
"We are delighted to have Sam join our Board of Directors," said James Schoeneck, Depomed's President and CEO. "His extensive experience developing and commercializing successful specialty pharmaceutical products will be instrumental as we advance new initiatives for growth," Mr. Schoeneck added.
"I am excited to join Depomed's Board of Directors," said Dr. Saks. "The company is well-positioned with its initial products, commercial capabilities and management team, and I look forward to contributing to Depomed's growth and success."
From 2003 to 2009, Dr. Saks served as CEO of Jazz Pharmaceuticals, Inc., a specialty pharmaceutical company he co-founded. Prior to joining Jazz Pharmaceuticals, Dr. Saks held a number of positions at Alza Corporation, which was acquired by Johnson & Johnson in 2001. From 2001 to 2003, he was Company Group Chairman of Alza and served as a member of Johnson & Johnson's Pharmaceutical Group Operating Committee. From 1992 to 2001, he held various executive positions at Alza, including Senior Vice President, Medical Affairs and Group Vice President, where he was responsible for clinical and commercial activities. He has also held clinical research positions in oncology at Schering-Plough Corporation, XOMA Corporation and Genentech, Inc. From 1987 to 2000, Dr. Saks was Assistant Clinical Professor of Medicine in the oncology division of the Department of Medicine at the University of California, San Francisco. From April 2011 until February 2012, Dr. Saks served as interim Chief Medical Officer of Threshold Pharmaceuticals. Dr. Saks also serves as a director of a number of pharmaceutical companies, including TONIX Pharmaceuticals and Auspex Pharmaceuticals. Dr. Saks received a B.S. and an M.D. from the University of Illinois.
About Depomed Depomed, Inc. is a specialty pharmaceutical company with three approved and marketed products. Gralise® (gabapentin) is a once-daily treatment approved for the management of postherpetic neuralgia (PHN). Zipsor® (diclofenac potassium) Liquid Filled Capsules is a non-steroidal anti-inflammatory drug (NSAID) indicated for relief of mild to moderate acute pain in adults. Glumetza® (metformin hydrochloride extended release tablets) is approved for use in adults with type 2 diabetes and is commercialized by Santarus, Inc. in the United States. Depomed formulates its products and product candidates with its proven, proprietary Acuform® drug delivery technology, which is designed to improve existing oral medications, allowing for extended release of medications to the upper gastrointestinal tract when dosed with food. Additional information about Depomed may be found on its website, www.depomed.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties including, but not limited to, those related to the company's plans for clinical development and commercial growth, and other risks detailed in the company's Securities and Exchange Commission filings, including the company's Annual Report on Form 10-K for the year ended December 31, 2011 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2012. The inclusion of forward-looking statements should not be regarded as a representation that any of the company's plans or objectives will be achieved. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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