Spectrum Pharmaceuticals Announces Promotion of Joseph Turgeon to Senior Vice President and Chief Co
Spectrum Pharmaceuticals Announces Promotion of Joseph Turgeon to Senior Vice President and Chief Commercial Officer as Company Builds on Recent Commercial Reorganization to Advance Growth and Market Penetration over the Next Five Years
Spectrum Pharmaceuticals Also Announces Expansion of the Sales and Marketing Leadership Team with the Appointments of Robert Fralin as Vice President of Sales and Al DeJesus as Executive Director, Marketing
Mr. Turgeon is a proven expert in the oncology marketplace, with over 25 years of pharma sales experience, including various executive leadership roles at Amgen
Under his leadership, Amgen Oncology launched four new drugs and revenues rose from $2 billion to over $6 billion
Mr. Fralin and Mr. DeJesus, both former leaders in Amgen's oncology business, bring to Spectrum over 35 years of combined commercial experience
Spectrum recently completed expansion of sales force size to over 60 professionals to support three marketed drugs, with the capacity to expand as additional drugs are added to the commercial pipeline
Six Regional Managers leading business in the U.S. for FUSILEV® (levoleucovorin) for Injection, FOLOTYN® (pralatrexate injection), and ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use
HENDERSON, Nev.--(BUSINESS WIRE)-- Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology, today announced the promotion of Joseph Turgeon to Senior Vice President and Chief Commercial Officer (CCO). Mr. Turgeon joined Spectrum in October 2012 as Senior Vice President Sales & Commercial Operations, bringing over 25 years of pharma sales experience, including various executive leadership roles at Amgen. In his new capacity as CCO, Mr. Turgeon will be responsible for global commercial and sales activities, reporting to Spectrum Pharmaceuticals' Executive Vice President, Chief Operating Officer, Ken Keller. Currently, Spectrum markets three oncology products in the U.S. - FUSILEV® (levoleucovorin) for Injection; FOLOTYN® (pralatrexate injection); and ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use - with ex-U.S. rights for ZEVALIN as well.
"As we reported in our presentation earlier this week at the Annual J.P. Morgan Healthcare Conference, Spectrum is committed to continued strong growth over the next five years, with three anticancer drugs on the market and nearly ten drugs in clinical development," said Dr. Shrotriya. "Mr. Turgeon, working closely with Ken Keller, Executive Vice President, Chief Operating Officer, already has contributed greatly to executing our planned strategy for expedited growth of the Company under our recent commercial reorganization, and we are pleased to announce his promotion to CCO and responsibilities for our global commercial presence."
"Every day at Spectrum, we see new opportunities and new ways to apply our knowledge to further accelerate our momentum and increase our footprint in the market. Each of our current products on the market has a unique set of benefits for patients and unique abilities to address current needs, as is true of our late-stage development product candidates. With our commercial reorganization and drive to succeed, Spectrum is in a stronger position than ever to communicate these advantages to physicians and patients," stated Mr. Turgeon.
The Company also announced today the further expansion of its sales and marketing leadership, with the appointments of Robert Fralin as Vice President of Sales and Al DeJesus as Executive Director, Marketing. Previously, Mr. Fralin served as Executive Director of Amgen's Bone Health Business Unit and prior to that, as Executive Director of Amgen's Oncology Business Unit, which had annual revenues exceeding $1 billion. Mr. DeJesus is the former Executive Director of Amgen's Global Oncology Marketing, with responsibilities including worldwide planning for Amgen's oncology products and global partnerships. Both individuals will report directly to Mr. Turgeon.
Mr. Turgeon continued, "Spectrum continues to attract top talent, and the appointments of Robert Fralin and Al DeJesus further demonstrate the excitement we feel at the company at the start of 2013. Each brings their unique perspectives and expertise, and each will be invaluable to the success and expansion of Spectrum's presence in the U.S. and other key territories where we will gain a presence in the oncology market."
In November, 2012, Spectrum undertook a strategic strengthening of its sales force in the U.S., implementing a structure of six geographic regions and expanding the sales team to 60 professionals in order to effectively and efficiently add more oncology products in the future. In the near term, multiple synergies are anticipated, including from the fact that the sales force will market ZEVALIN and FOLOTYN to the same physicians. Further, each regional manager is empowered to align sales resources and tailor promotional and other physician and patient support initiatives to meet our customers' needs, allowing Spectrum to become even more of a customer-facing commercial organization. The realignment of existing resources is expected to result in a significantly greater hematology and oncology footprint, increased promotional reach, and more efficient physician engagement.
About FUSILEV® (levoleucovorin) for injection
FUSILEV, a novel folate analog, is approved as a ready-to-use solution (FUSILEV Injection), and as freeze-dried powder (FUSILEV for Injection). FUSILEV is indicated for use in combination chemotherapy with 5-fluorouracil in the palliative treatment of patients with advanced metastatic colorectal cancer. FUSILEV is also indicated for rescue after high-dose methotrexate therapy in osteosarcoma. FUSILEV is also indicated to diminish the toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists. FUSILEV, under various trade names, is marketed outside the United States by Pfizer, Sanofi-Aventis, and Takeda.
Important FUSILEV® (levoleucovorin) Safety Considerations
FUSILEV is dosed at one-half the usual dose of racemic d,l-leucovorin. FUSILEV is contraindicated for patients who have had previous allergic reactions attributed to folic acid or folinic acid. Due to calcium content, no more than 16-mL (160-mg) of levoleucovorin solution should be injected intravenously per minute. FUSILEV enhances the toxicity of fluorouracil. Concomitant use of d,l-leucovorin with trimethoprim-sulfamethoxazole for pneumocystis carinii pneumonia in HIV patients was associated with increased rates of treatment failure in a placebo-controlled study. Allergic reactions were reported in patients receiving FUSILEV. Vomiting (38%), stomatitis (38%) and nausea (19%) were reported in patients receiving FUSILEV as rescue after high dose methotrexate therapy. The most common adverse reactions ( > 50%) in patients with advanced colorectal cancer receiving FUSILEV in combination with 5-fluorouracil were diarrhea, nausea and stomatitis. FUSILEV may counteract the antiepileptic effect of phenobarbital, phenytoin and primidone, and increase the frequency of seizures in susceptible patients.
Full prescribing information can be found at www.FUSILEV.com.
About FOLOTYN®
FOLOTYN, (pralatrexate injection), a folate analogue metabolic inhibitor, was discovered by Memorial Sloan-Kettering Cancer Center, SRI International and Southern Research Institute and developed by Allos Therapeutics. In September 2009, the U.S. Food and Drug Administration (FDA) granted accelerated approval for FOLOTYN for use as a single agent for the treatment of patients with relapsed or refractory PTCL. This indication is based on overall response rate. Clinical benefit such as improvement in progression-free survival or overall survival has not been demonstrated. FOLOTYN has been available to patients in the U.S. since October 2009. An updated analysis of data from PROPEL, the pivotal study of FOLOTYN in patients with relapsed or refractory PTCL, was published in the March 20, 2011 issue of the Journal of Clinical Oncology. FOLOTYN has patent protection through July 2022, based on a five-year patent term extension through the Hatch-Waxman Act. Please see full Prescribing Information for FOLOTYN at www.FOLOTYN.com.
Important FOLOTYN® Safety Information
Warnings and Precautions
FOLOTYN may suppress bone marrow function, manifested by thrombocytopenia, neutropenia, and anemia. Monitor blood counts and omit or modify dose for hematologic toxicities.
Mucositis may occur. If greater-than or equal to Grade 2 mucositis is observed, omit or modify dose. Patients should be instructed to take folic acid and receive vitamin B12 to potentially reduce treatment-related hematological toxicity and mucositis.
Fatal dermatologic reactions may occur. Dermatologic reactions may be progressive and increase in severity with further treatment. Patients with dermatologic reactions should be monitored closely, and if severe, FOLOTYN should be withheld or discontinued. Tumor lysis syndrome may occur. Monitor patients and treat if needed.
FOLOTYN can cause fetal harm. Women should avoid becoming pregnant while being treated with FOLOTYN and pregnant women should be informed of the potential harm to the fetus.
Use caution and monitor patients when administering FOLOTYN to patients with moderate to severe renal function impairment.
Elevated liver function test abnormalities may occur and require monitoring. If liver function test abnormalities are greater-than or equal to Grade 3, omit or modify dose.
Adverse Reactions
The most common adverse reactions were mucositis (70%), thrombocytopenia (41%), nausea (40%), and fatigue (36%). The most common serious adverse events are pyrexia, mucositis, sepsis, febrile neutropenia, dehydration, dyspnea, and thrombocytopenia.
Use in Specific Patient Population
Nursing mothers should be advised to discontinue nursing or the drug, taking into consideration the importance of the drug to the mother.
Drug Interactions
Co-administration of drugs subject to renal clearance (e.g., probenecid, NSAIDs, and trimethoprim/sulfamethoxazole) may result in delayed renal clearance.
Please see FOLOTYN® Full Prescribing Information at www.FOLOTYN.com.
About ZEVALIN® and the ZEVALIN Therapeutic Regimen
ZEVALIN (ibritumomab tiuxetan) injection for intravenous use, is indicated for the treatment of patients with relapsed or refractory, low-grade or follicular B-cell non-Hodgkin's lymphoma (NHL). ZEVALIN is also indicated for the treatment of patients with previously untreated follicular non-Hodgkin's Lymphoma who achieve a partial or complete response to first-line chemotherapy.
ZEVALIN is a CD20-directed radiotherapeutic antibody. The ZEVALIN therapeutic regimen consists of two components: rituximab, and Yttrium-90 (Y-90) radiolabeled ZEVALIN for therapy. ZEVALIN builds on the combined effect of a targeted biologic monoclonal antibody augmented with the therapeutic effects of a beta-emitting radioisotope.
Important ZEVALIN® Safety Information
Deaths have occurred within 24 hours of rituximab infusion, an essential component of the ZEVALIN therapeutic regimen. These fatalities were associated with hypoxia, pulmonary infiltrates, acute respiratory distress syndrome, myocardial infarction, ventricular fibrillation, or cardiogenic shock. Most (80%) fatalities occurred with the first rituximab infusion. ZEVALIN administration can result in severe and prolonged cytopenias in most patients. Severe cutaneous and mucocutaneous reactions, some fatal, can occur with the ZEVALIN therapeutic regimen.
Please see full Prescribing Information, including BOXED WARNINGS, for ZEVALIN and rituximab. Full prescribing information for ZEVALIN can be found at www.ZEVALIN.com.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a leading biotechnology company focused on acquiring, developing, and commercializing drug products, with a primary focus in oncology and hematology. Spectrum and its affiliates market three oncology drugs ─ FUSILEV® (levoleucovorin) for Injection in the U.S.; FOLOTYN® (pralatrexate injection), also marketed in the U.S.; and ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use, for which the Company has worldwide marketing rights. Spectrum's strong track record in in-licensing and acquiring differentiated drugs, and expertise in clinical development have generated a robust, diversified, and growing pipeline of product candidates in advanced-stage Phase 2 and Phase 3 studies. More information on Spectrum is available at www.sppirx.com.
Forward-looking statement — This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements are based on management's current beliefs and expectations. These statements include, but are not limited to, statements that relate to our business and its future, including certain company milestones, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates may not prove safe or effective, the possibility that our existing and new applications to the FDA and other regulatory agencies may not receive approval in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of sustained revenue history, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC.®, FUSILEV®, FOLOTYN®, and ZEVALIN®are registered trademarks of Spectrum Pharmaceuticals, Inc and its affiliates.REDEFINING CANCER CARE™and the Spectrum Pharmaceuticals logos are trademarks owned by Spectrum Pharmaceuticals, Inc.
© 2013 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Spectrum Pharmaceuticals, Inc.
Shiv Kapoor, Vice President, Strategic Planning & Investor Relations
702-835-6300
InvestorRelations@sppirx.com
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