ROCKVILLE, Md., May 15 /PRNewswire-FirstCall/ -- Human Genome Sciences,
Inc. (Nasdaq: HGSI) today announced that Kevin P. McRaith has joined the
Company as Vice President, Hepatology Franchise. Mr. McRaith, formerly Vice
President, Sales & Marketing - Hematology, Genentech Corporation, will
report to Barry A. Labinger, Executive Vice President and Chief Commercial
Officer.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080416/HGSLOGO )
"Kevin McRaith brings to HGS a wealth of experience and an established
record of accomplishment in the successful commercialization of products in
a number of therapeutic areas," said Mr. Labinger. "I am excited to have
Kevin join our senior management team to play a key role in our efforts to
build a world class commercial organization. As head of our Hepatology
Franchise, Kevin will have responsibility for all marketing and sales
activities for Albuferon, including leading our preparation for launch and
managing the overall performance of our Albuferon business."
Mr. McRaith has more than 20 years of experience commercializing
therapies for infectious diseases, oncology, neurological diseases and
cardiology. As Vice President, Sales and Marketing for Genentech's
Hematology Franchise, he led the commercial efforts for the top-selling
biologic, Rituxan (rituximab). Prior to joining Genentech in 2005, Mr.
McRaith served with Abbott Laboratories for 15 years, where he held a
number of senior positions with responsibility for managing major product
franchises, directing marketing and sales activities, and leading a number
of successful launches. Before joining Abbott in 1990, he spent several
years in sales and promotion with Baxter Healthcare Corporation. Mr.
McRaith received his Bachelor of Science degree from the University of
Iowa.
ABOUT HUMAN GENOME SCIENCES
The mission of HGS is to apply great science and great medicine to
bring innovative drugs to patients with unmet medical needs.
The HGS clinical development pipeline includes novel drugs to treat
hepatitis C, lupus, inhalation anthrax, cancer and other immune-mediated
diseases. The Company's primary focus is rapid progress toward the
commercialization of its two key lead drugs, Albuferon(R) (albinterferon
alfa-2b) for hepatitis C and LymphoStat-B(R) (belimumab) for lupus. Phase 3
clinical trials of both drugs are ongoing.
ABthrax(TM) (raxibacumab) is in late-stage development for the
treatment of inhalation anthrax, and the Company is on track to begin the
delivery in fall 2008 of 20,000 doses of ABthrax to the Strategic National
Stockpile under a contract entered into with the U.S. Government in June
2006. Other HGS drugs in clinical development include two TRAIL receptor
antibodies for the treatment of cancer. HGS1029, a small-molecule
antagonist of IAP (inhibitor of apoptosis) proteins, is expected to enter
Phase 1 clinical trials soon for the treatment of cancer. In addition, HGS
has substantial financial rights to three products in the GlaxoSmithKline
clinical development pipeline.
For more information about HGS, please visit the Company's web site at
http://www.hgsi.com. Health professionals and patients interested in clinical
trials of HGS products may inquire via e-mail to clinical_trials@hgsi.com
or by calling HGS at (301) 610-5790, extension 3550.
HGS, Human Genome Sciences, ABthrax, Albuferon and LymphoStat-B are
trademarks of Human Genome Sciences, Inc.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements are based on Human Genome Sciences' current
intent, belief and expectations. These statements are not guarantees of
future performance and are subject to certain risks and uncertainties that
are difficult to predict. Actual results may differ materially from these
forward-looking statements because of the Company's unproven business
model, its dependence on new technologies, the uncertainty and timing of
clinical trials, the Company's ability to develop and commercialize
products, its dependence on collaborators for services and revenue, its
substantial indebtedness and lease obligations, its changing requirements
and costs associated with facilities, intense competition, the uncertainty
of patent and intellectual property protection, the Company's dependence on
key management and key suppliers, the uncertainty of regulation of
products, the impact of future alliances or transactions and other risks
described in the Company's filings with the Securities and Exchange
Commission. In addition, the Company will continue to face risks related to
animal and human testing, to the manufacture of ABthrax and to FDA
concurrence that ABthrax meets the requirements of the ABthrax contract. If
the Company is unable to meet the product requirements associated with the
ABthrax contract, the U.S. government will not be required to reimburse the
Company for the costs incurred or to purchase any ABthrax doses, and we
will not receive any of the expected revenues relative to ABthrax. Existing
and prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of today's date.
Human Genome Sciences undertakes no obligation to update or revise the
information contained in this announcement whether as a result of new
information, future events or circumstances or otherwise.
SOURCE Human Genome Sciences, Inc.
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Related links:
http://www.hgsi.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20080416/HGSLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Jerry Parrott, Vice President, Corporate
Communications, +1-301-315-2777, or Kate de Santis, Director,
Investor Relations, +1-301-251-6003, both of Human Genome
Sciences, Inc.
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