EXTON, Pa., Aug. 30, 2004 (PRIMEZONE) -- ViroPharma Incorporated (Nasdaq:VPHM) announced today that Joshua M. Tarnoff has joined the company as vice president, commercial operations. Mr. Tarnoff will be significantly involved in the company's business development and product evaluation efforts as it seeks to expand its product portfolio through the acquisition of complementary late stage or commercial product opportunities. As ViroPharma nears commercialization, he will be responsible for the development and leadership of the company's commercial infrastructure, including sales and marketing, and commercial and market analysis. He joins the company from AstraZeneca Pharmaceuticals, where he most recently served as senior marketing director for the 'Phoenix Business Unit,' AstraZeneca's established brand business unit.
"Josh will make an excellent addition to the new ViroPharma, and his varied experiences are ideal to help us move forward with our new strategy," commented Michel de Rosen, ViroPharma's chief executive officer. "We want to acquire late stage or already commercialized products, but we will only do so if we get access to these products at a reasonable price and if we are convinced that, with these products, we can create real value for our shareholders. Josh adds to our team strengths in strategic analysis, partnering negotiation, business development, and strategic alliance management, all of which will be crucial in analyzing and selecting products that are the best fit with our business."
De Rosen added, "Josh is clearly ideal to then lead the commercialization efforts for the products we acquire, and the products we develop internally. His strengths in commercializing hospital-based products and niche and specialty pharmaceuticals will be a valuable asset to the company. In addition, Josh brings to ViroPharma 20 years of vital experience in launching and building brands, and, importantly, life-cycle management for established and maturing brands. I am convinced that his contribution to ViroPharma will be considerable, and look forward to working closely with him to rapidly move ViroPharma toward our goal of commercialization."
At AstraZeneca Pharmaceuticals, Mr. Tarnoff was most recently responsible for improving and maximizing the value of established brands through the use of innovative late life-cycle skills, and negotiating deals including the marketing alliance between AstraZeneca and MedPointe Pharmaceuticals for the Zomig(r) (zolmitriptan) franchise. Prior to AstraZeneca, he held positions of increasing seniority at Astra Pharmaceuticals and Astra Merck, namely in the respiratory and cardiovascular therapeutic areas. Before joining Astra Merck, he served as a product manager for Wyeth-Ayerst Laboratories. Mr. Tarnoff holds a Bachelor of Arts degree in biology from LaSalle University, in Philadelphia, PA.
"I am excited to join ViroPharma at this point in its transformation; my experience can add value as we go forward and execute on our development and commercialization strategies," commented Mr. Tarnoff. "I am impressed by the current ViroPharma pipeline and the immediate value that it can provide. Following our completion of the license agreement, pleconaril will be in the hands of Schering-Plough, and we will be in the enviable position of having two promising core clinical programs. Maribavir is an extremely promising compound for the prevention and treatment of cytomegalovirus infections, and the hepatitis C program has the potential to bring breakthrough treatments to market for patients with a need for a more efficacious and well-tolerated product. The company's strategy of building franchises within narrowly focused prescribing groups, with an initial focus on transplant, hepatology and gastroenterology areas, provides us multiple opportunities for corporate growth, and has the opportunity to create great value for ViroPharma shareholders."
ViroPharma Incorporated is committed to the development and commercialization of products that address serious diseases treated by physician specialists and in hospital settings. ViroPharma is currently focused on drug development activities in viral diseases including cytomegalovirus (CMV) and hepatitis C (HCV).
This press release may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties, including ViroPharma's plans to focus on later stage opportunities in order to accelerate the company's path toward becoming a profitable pharmaceutical company. There can be no assurance that ViroPharma's plans in this regard will be successful. There are a variety of risks and uncertainties that the company faces in executing this strategy. ViroPharma will face intense competition in acquiring products to expand its product portfolio. Many of the companies and institutions that the company will compete with in acquiring products to expand its product portfolio have substantially greater capital resources, research and development staffs and facilities than ViroPharma has, and substantially greater experience in conducting business development activities. ViroPharma also is developing products for potential future marketing. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success. These factors, and other factors set forth in the cautionary statements included in ViroPharma's most recent annual report on Form 10-K and registration statements on Forms S-3 and S-4 filed with the Securities and Exchange Commission, could cause actual results to differ materially from ViroPharma's assumptions and expectations. The forward-looking statements contained in this press release may become outdated over time. ViroPharma does not assume any responsibility for updating any forward-looking statements.