BUENA, N.J., April 2, 2014 /PRNewswire/ -- IGI
Laboratories, Inc. (NYSE MKT: IG), a New
Jersey-based generic topical pharmaceutical company, today
announced that it has appointed Damian
Finio to its Board of Directors. Mr. Finio will serve
as the new Chairman of the Company's Audit Committee. The
Company had announced on March 31,
2014, that Michael Hemric, a
Director of the Company has resigned effective April 1, 2014, and Joyce
Erony, the Company's chairperson and director, had decided
not to run for re-election at the Company's annual meeting on
May 27, 2014.
Jason Grenfell-Gardner, President
and CEO of the Company, commented, "We are very pleased Damian has
agreed to join our Board of Directors. I believe his
financial expertise will be a tremendous asset to our audit
committee and our Board." Mr. Grenfell-Gardner continued, "We
would like to extend our sincere gratitude to Michael Hemric and Joyce
Erony for their service to the Company. Michael and
Joyce have been a critical part in the Company's transformation
since 2009. We wish them well in their future endeavors."
Mr. Finio is currently President of Mountain Run Advisors LLC.,
a niche financial consulting firm. Prior to this role, Mr.
Finio was VP & Chief Financial Officer of West-Ward
Pharmaceuticals. West-Ward is a $500
million generic pharmaceutical manufacturer based in
New Jersey owned by HIKMA
Pharmaceuticals. HIKMA is a $1.0
billion global pharmaceutical manufacturer headquartered in
Amman, Jordan, and traded on the
London Stock Exchange. Before joining West-Ward, Mr. Finio
was VP, Finance, at Daiichi Sankyo Pharma Development, a large
Japanese pharmaceutical company, where he managed both Finance and
Outsourcing, and chaired the organization's Global R&D Finance
Committee. Prior to Daiichi Sankyo, he worked at
AstraZeneca for nearly 14 years in a variety of financial roles
with increasing responsibility, the last of which was Senior
Director, Managed Markets Finance. He began his career in
public accounting with KPMG, holds a B.S. in Accounting from The
Pennsylvania State University and an
MBA from The University of Delaware. He is also a Certified
Public Accountant and Certified Treasury Professional.
About IGI Laboratories, Inc.
IGI Laboratories is a
generic topical pharmaceutical company. We develop and
manufacture topical formulations for the pharmaceutical, OTC, and
cosmetic markets. Our mission is to be a leading player in the
generic topical prescription drug market.
Forward-Looking Statements
This press release includes
certain "forward-looking statements," within the meaning of the
Private Securities Litigation Reform Act of 1995, that involve
risks and uncertainties. These forward-looking statements include,
but are not limited to, plans, objectives, expectations and
intentions, and other statements that are not historical facts and
statements and are identified by words such as "plan," "believe,"
"continue," "should" or words of similar import. Actual results may
differ materially from any results predicted, and reported results
should not be considered as an indication of future
performance. Factors that could cause actual results to
differ materially from these expectations include, but are not
limited to: our inability to meet current or future regulatory
requirements in connection with existing or future ANDAs; our
inability to achieve profitability; our failure to obtain FDA
approvals as anticipated; our inability to execute and implement
our business plan and strategy; the potential lack of market
acceptance of our products; our inability to protect our
intellectual property rights; changes in global political,
economic, business, competitive, market and regulatory factors; and
our inability to complete successfully future product acquisitions.
These statements are based on our current beliefs or
expectations and are inherently subject to various risks and
uncertainties, including those set forth under the caption "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in IGI Laboratories, Inc.'s
most recent Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and other periodic reports we file with the Securities and
Exchange Commission. All information contained herein are as
of the date of this press release, and IGI Laboratories, Inc. does
not undertake any obligation to update any information or other
forward-looking statement contained in this document as a result of
new information, future events or otherwise, except as required by
law.
www.igilabs.com
Logo -
http://photos.prnewswire.com/prnh/20130827/MM70487LOGO
SOURCE IGI Laboratories, Inc.