BRISTOL, Tenn., June 10 /PRNewswire-FirstCall/ -- King Pharmaceuticals,
Inc. (NYSE: KG) announced today the appointment of Eric J. Bruce as the
Company's Corporate Head, Technical Operations. Mr. Bruce has more than 20
years of manufacturing experience.
Brian A. Markison, President and Chief Executive Officer of King, stated,
"Ric's leadership and expertise will serve as a valuable addition to King's
manufacturing, quality, and supply chain logistics capabilities and I look
forward to his contributions to our company's future success." Mr. Markison
added, "The addition of Ric to our management team is in furtherance of our
previously announced management action plan, which includes recruiting and
retaining top-notch talent throughout our organization and improving and
enhancing our supply chain, primarily by better leveraging our manufacturing
capability."
Mr. Bruce most recently served as Vice President of Operations at
Mallinckrodt Pharmaceuticals in St. Louis, Missouri, where he managed and
integrated nine state-of-the-art pharmaceutical and specialty chemical
manufacturing facilities. In addition to his professional experience, Ric
graduated from the Georgia Institute of Technology in 1978 and holds a
bachelor's degree in Industrial Management. In his new position with King, Mr.
Bruce will have responsibility for overseeing manufacturing, quality, and
supply chain logistics.
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.
About 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. Bruce's plans to join King,
statements pertaining to Mr. Bruce's expected contributions to the Company,
and statements pertaining to King's prospects for success. 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.
Bruce joining King as the Company's Corporate Head, Technical Operations, 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 extent to which
King improves and enhances its supply chain; 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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