Halo Pharmaceutical Makes Key Additions to Management Team

Aug 26, 2015, 15:25 ET from Halo Pharmaceutical

WHIPPANY, N.J., Aug. 26, 2015 /PRNewswire/ -- Halo Pharmaceutical, a rapidly growing Contract Development and Manufacturing Organization (CDMO), is pleased to announce the appointments of Lee Karras as its Chief Executive Officer and Barry Lederman as its Chief Financial Officer. 

Lee Karras is an established pharmaceutical business executive with over twenty five years of healthcare industry related experience.  Prior to joining Halo, Lee held executive leadership roles in several businesses.  Most recently he was President of IBA Molecular North America, a global leader in the manufacture and distribution of radiopharmaceuticals.  Lee has a proven track record of building scalable, yet cost effective businesses as well as managing complex contract research, manufacturing and pharmaceutical services businesses.  Having worked in the contract pharmaceutical services industry over the last two decades, Lee has had to adapt and develop new business models to keep pace with the ever changing pharmaceutical landscape. 

Barry Lederman has extensive financial and international pharmaceutical experience, having led teams of several public and private companies with global operations.  Prior to joining Halo, he served as the Vice President and CFO for Eisai Inc. with operations in the Americas Region, the CFO at Wedgewood Pharmacy, Nycomed US Inc., and Qualitrol Company LLC (a subsidiary of Danaher Corporation).  He also spent 10 years with Roche in positions of increasing responsibility within Finance, culminating in his appointment as Senior Vice President – Head of Business Analysis and Controlling at Roche Centralized Diagnostics, headquartered in Mannheim, Germany.  He is a CPA licensed in New Jersey and New York and gained his accounting experience at PwC.

"Lee and Barry have proven track records of growing and improving companies in the pharmaceutical and CDMO sector," noted Aaron Davenport, Chairman of Halo Pharmaceutical and Managing Director of SK Capital, Halo's majority owner. "Lee led a pharmaceutical manufacturing business for SK Capital for the past several years with tremendous success, and is ideally suited for taking Halo from a smaller CDMO to a top-tier industry player.  Similarly, Barry's experience in acquisitions, team building and system and process improvement are perfect for Halo.  Together they will provide Halo with exceptional leadership and ensure that Halo's customers receive best-in-class service and quality." 

"I am excited to join Halo Pharmaceutical and the over 500 team members at our Whippany, New Jersey and Mirabel, Canada sites," noted Lee Karras.  "Halo's experience, expertise, capacity and proven track record in complex oral and topical drug delivery formulation development, controlled substance manufacturing and FDA, DEA, Health Canada and MHRA regulatory licensure position Halo as a partner of choice to any large pharma, generic or mid-scale pharma company."

"I am proud to be a part of Halo Pharma," noted Barry Lederman. "It is an outstanding organization that is well positioned to serve the needs of the pharmaceutical industry with expertise in contract development and manufacturing coupled with the financial backing of SK Capital Partners. This is a great opportunity and I am looking forward to contributing to the success of the organization and all of its key stakeholders."

Halo Pharmaceutical is a rapidly growing contract development and manufacturing organization (CDMO) that provides scientific and development expertise as well as a wide spectrum of manufacturing services from its locations in Whippany and East Hanover, New Jersey USA and Montreal, Quebec Canada to its international client base. Halo offers fully integrated capabilities in a variety of dosage forms including tablets, capsules, powders, liquids, creams, sterile and non-sterile ointments and suppositories. The company is registered to work with any of these dosages in the CI-CV DEA designations. Halo Pharmaceutical's capabilities in the areas of tech transfer, process and product development, production, scale-up and validation and analytical method development allow us to partner with clients from development through commercialization or at any point along the way. For more information please contact services@halopharma.com.

SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors. SK Capital's integrated, multi-disciplinary team utilizes its industry, operating and investment experience to help transform businesses into higher performing organizations. Located in New York, NY, the firm has over $1.5 billion in third party capital under management. SK Capital's portfolio companies generate revenues of over $8.0 billion annually and employ approximately 9,000 people. More information about SK Capital can be found at www.skcapitalpartners.com.

SOURCE Halo Pharmaceutical