Jazz Pharmaceuticals Announces Management Change Chief Financial Officer Kathryn Falberg to Step Down; Matthew Young Appointed CFO
DUBLIN, Feb. 25, 2014 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced that Kathryn Falberg, executive vice president and chief financial officer (CFO), has resigned from the company, effective March 9, 2014, to pursue other interests. Ms. Falberg will serve as a consultant to Jazz Pharmaceuticals during a transition period.
Matthew Young, senior vice president of corporate development at Jazz Pharmaceuticals, has been appointed senior vice president and CFO, reporting to Bruce Cozadd, chairman and chief executive officer, as of the effectiveness of Ms. Falberg's resignation. Mr. Young joined Jazz Pharmaceuticals in early 2013.
"I would like to thank Kate for her significant contributions to the growth and success of Jazz Pharmaceuticals over the past four years. Kate has greatly expanded and strengthened the company's finance organization, as well as our strategy, corporate development, external communications and information technology functions, and has played a key role in developing and implementing the company's growth strategy and in creating value for shareholders," said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals plc. "Matt has played a critical role in helping Jazz Pharmaceuticals execute on our strategy since he joined the company, including successfully leading our efforts to complete two transactions. I look forward to working with Matt in his new role. His knowledge of our business, strong leadership skills and extensive experience in life sciences investment banking position him well for success as our CFO."
Prior to joining Jazz Pharmaceuticals, Mr. Young worked in investment banking for approximately 20 years. His most recent investment banking role was as the Managing Director in Global Healthcare and Co-Head of Life Sciences at Barclays Capital. Previously, Mr. Young was head of U.S. Life Sciences at Citigroup, and, prior to that, was head of West Coast Healthcare and directed the life sciences coverage effort at Lehman Brothers. He has worked on numerous mergers and acquisitions, corporate finance and other transactions during his career. Mr. Young received his B.S. in Economics and his M.B.A. from the Wharton School of Business.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc is a specialty biopharmaceutical company focused on improving patients' lives by identifying, developing and commercializing differentiated products that address unmet medical needs. The company has a diverse portfolio of products and/or product candidates in the areas of sleep, hematology/oncology, pain and psychiatry. The company's U.S. marketed products in these areas include: Xyrem® (sodium oxybate) oral solution, Erwinaze® (asparaginase Erwinia chrysanthemi), Prialt® (ziconotide) intrathecal infusion, Versacloz™ (clozapine) oral suspension, FazaClo® (clozapine, USP) HD and FazaClo LD. Jazz Pharmaceuticals also has a number of products marketed outside the U.S. and expects to launch Defitelio® (defibrotide) in selected countries in the European Union during 2014. For further information, see www.jazzpharmaceuticals.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements, including, but not limited to, statements related to the expected launch of Defitelio in the European Union and the timing thereof, and other statements that are not historical facts. These forward-looking statements are based on Jazz Pharmaceuticals' current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with the company's ability to successfully launch and commercialize Defitelio in a timely manner; the company's ability to successfully manage the risks associated with integrating Defitelio into the company's product portfolio; and other risks detailed from time to time under the caption "Risk Factors" and elsewhere in Jazz Pharmaceuticals plc's Securities and Exchange Commission filings and reports (Commission File No. 001-33500), including the Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 and future filings and reports by the company, including the Annual Report on Form 10-K for the year ended December 31, 2013. Jazz Pharmaceuticals undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in its expectations.
SOURCE Jazz Pharmaceuticals plc