Auxilium Pharmaceuticals (NASDAQ: AUXL), a specialty pharmaceuticals company, has added two senior executives at the company and announced the departures of three in the latest management shakeup at the company.
Andrew I. Koven has been named executive vice president, chief administrative officer and general counsel. Mark A. Glickman has been named senior vice president, sales, according to a statement from the company.
The additions come as the company announced the departures of Jennifer Evans Stacey who served as executive vice resident, general counsel, and secretary; Ed Kessig, its senior vice president, sales; and Edward Arcuri, executive vice president, technical operations.
“The leadership appointments we are announcing today advance our efforts to help position Auxilium for sustainable success and the next stage of its evolution,” said Auxilium chief executive officer Adrian Adams. “Collectively, Andrew and Mark’s broad expertise and industry experience should significantly enhance our capabilities as we seek to maximize the value of Xiaflex and Testim, deliver on our current pipeline, and capitalize on future growth opportunities to achieve profitability and drive shareholder value.”
Koven previously served as president and chief administrative officer of Neurologix, a biotechnology company focused on the development of gene therapies for disorders of the brain and central nervous system. Prior to that, he was chief administrative and legal officer at Inspire Pharmaceuticals prior to its acquisition by Merck.
In December, Adrian Adams was appointed chief executive officer and president after Armando Anido agreed to step down and resigned from the board of directors. Adams previously served as chairman and CEO of Neurologix.
In October, Auxilium reshuffled its sales and marketing team to boost sales of its drug, Xiaflex, for the treatment of Dupuytren’s contracture, a hand condition affecting north European men. It is also in the phase III clinical trial stage for the use of Xiaflex to treat Peyronie’s disease, in phase IIa for its use in the treatment of frozen shoulder syndrome, and in phase Ib for its use in the treatment of cellulite. Testim is a testosterone gel.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The Malvern, Pennsylvania drug company said at the time that it would eliminate the position of executive vice president of sales and marketing in order to “speed decision making.”
