BRISTOL, Tenn., June 1 /PRNewswire-FirstCall/ -- King Pharmaceuticals,
Inc. (NYSE: KG) announced today the appointment of Joseph Squicciarino as the
Company's new Chief Financial Officer. Mr. Squicciarino plans to join King on
June 27, 2005.
Brian A. Markison, President and Chief Executive Officer of King, stated,
"We are extremely pleased that Joseph Squicciarino has agreed to join King as
our new Chief Financial Officer." Mr. Markison added, "With his strong
leadership skills, pharmaceutical background and wide-range of operating
experience, we are confident that Joe will compliment the Company's executive
management team as it focuses on achieving the Company's growth objectives."
Mr. Squicciarino joins King with over 26 years of proven financial and
operational experience. Most recently, Mr. Squicciarino served as Chief
Financial Officer-North America for Revlon. Prior to joining Revlon, Mr.
Squicciarino distinguished himself for over 23 years in the pharmaceutical
industry in a variety of senior finance positions within Johnson & Johnson and
Bristol-Myers Squibb. He holds a B.S. degree in accounting from Adelphi
University and is a Certified Public Accountant.
Mr. Squicciarino commented, "I am very pleased to accept this outstanding
opportunity with King. I believe the Company is ideally positioned for growth
through external development while simultaneously delivering operating
efficiencies."
The appointment of Mr. Squicciarino fills the vacancy created by the
previously announced retirement of James R. Lattanzi, King's former Chief
Financial Officer.
About King Pharmaceuticals
King, headquartered in Bristol, Tennessee, is a vertically integrated
branded pharmaceutical company. King, an S&P 500 Index company, seeks to
capitalize on opportunities in the pharmaceutical industry through the
development, including through in-licensing arrangements and acquisitions, of
novel branded prescription pharmaceutical products in attractive markets and
the strategic acquisition of branded products that can benefit from focused
promotion and marketing and product life-cycle management.
Forward-looking Statements
This release contains forward-looking statements, which reflect
management's current views of future events and operations, including, but not
limited to, statements pertaining to Mr. Squicciarino's plans to join King on
June 27, 2005, and statements pertaining to the Company's prospects for
growth. These forward-looking statements involve certain significant risks and
uncertainties, and actual results may differ materially from the forward-
looking statements. Some important factors which may cause results to differ
include: dependence on Mr. Squicciarino joining King as the Company's Chief
Financial Officer as planned; dependence on King's ability to continue to
acquire branded products, including products in development, that further
enhance the Company's potential for growth; dependence on King's ability to
continue to successfully implement the Company's growth strategy and to
continue to capitalize on strategic opportunities in the future for sustained
long-term growth; dependence on the potential effect of future acquisitions
and other transactions pursuant to the Company's growth strategy; dependence
on management of King's growth and integration of its acquisitions; dependence
on the development of successful marketing strategies that result in growth in
net sales of King's products, including, but not limited to, Altace(R)
(ramipril), Skelaxin(R) (metaxalone), Levoxyl(R) (levothyroxine sodium
tablets, USP), Sonata(R) (zaleplon) and Thrombin-JMI(R) (thrombin, topical,
bovine, USP); dependence on King's ability to maintain effective patent
protection for current formulations of Altace(R) and Skelaxin(R); dependence
on King's ability to maintain and/or establish effective patent protection for
potential new formulations of Altace(R); dependence on the availability and
cost of raw materials; dependence on no material interruptions in supply by
contract manufacturers of King's products; dependence on the potential effect
on sales of King's existing branded pharmaceutical products as a result of the
potential development and approval of a generic substitute for any such
product or other new competitive products; dependence on the high cost and
uncertainty of research, clinical trials, and other development activities
involving pharmaceutical products, including, but not limited to, King
Pharmaceuticals Research and Development's pre-clinical and clinical
pharmaceutical product development projects; dependence on the Company's
compliance with U.S. Food and Drug Administration ("FDA") and other government
regulations that relate to the Company's business; and dependence on changes
in general economic and business conditions, changes in federal and state laws
and regulations, and manufacturing capacity constraints. Other important
factors that may cause actual results to differ materially from the forward-
looking statements are discussed in the "Risk Factors" section and other
sections of King's Form 10-K for the year ended December 31, 2004 and Form
10-Q for the first quarter ended March 31, 2005, which are on file with the
U.S. Securities and Exchange Commission. King does not undertake to publicly
update or revise any of its forward-looking statements even if experience or
future changes show that the indicated results or events will not be realized.
SOURCE King Pharmaceuticals, Inc.
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Related links:
http://www.kingpharm.com
Company News On-Call:
http://www.prnewswire.com/comp/120319.html
CONTACT:
James E. Green, Executive Vice President,
Corporate Affairs, +1-423-989-8125, or David E. Robinson, Senior
Director, Corporate Affairs, +1-423-989-7045, both of King
Pharmaceuticals, Inc.
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