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Patheon Appoints Terence S. Novak as President, North American Operations and Chief Marketing Officer
TORONTO, Canada, (February 14, 2008) – Patheon Inc. (TSX: PTI) today announced that it has appointed Terry Novak as President, North American Operations and Chief Marketing Officer, effective February 18, 2008. Mr. Novak will be responsible for managing and growing Patheon’s North American network of commercial manufacturing operations, which includes three plants in Canada, three in Puerto Rico and one in Cincinnati. Two of the Company’s North American sites, York Mills and Carolina, will be sold as part of a previously announced rationalization program, leaving a network of five sites in North America.
Mr. Novak has more than 28 years of pharmaceutical industry experience, including senior commercial management positions at Bristol-Myers Squibb, Quintiles and Cytogen. Most recently, Mr. Novak was President of DSM Pharmaceuticals Inc., the contract manufacturing business arm of Netherlands-based Royal DSM, N.V. Mr. Novak is a highly regarded speaker at industry conferences and also serves on the Editorial Advisory Board of Contract Pharma magazine and the North Carolina Biotechnology Advisory Board. Mr. Novak holds a Bachelors of Science in Biology from Muhlenberg College.
“We are extremely privileged to have Terry as a new member of our executive management team,” said Wesley P. Wheeler, Chief Executive Officer, Patheon Inc. “Terry has a unique perspective on the pharmaceutical manufacturing outsourcing market and has a demonstrated track record of success in this business.”
Contacts: Mr. Wesley P. Wheeler, Chief Executive Officer, Patheon Inc., Tel: (905) 812-2112; Fax: (905) 812-6613, Email: wwheeler@patheon.com; Ms. Shelley Jourard, Director, Corporate Communications, Tel: (905) 812-6614, Fax: (905) 812-6613; Email: sjourard@patheon.com.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking statements which reflect management’s expectations regarding the Company’s future growth of operations, performance (both operational and financial) and business prospects and opportunities. These statements are made in the context of the risks and uncertainties that are outlined in the Company’s public documents, which can be accessed on our website at www.patheon.com.
Patheon (TSX:PTI; www.patheon.com) is a leading global provider of drug development and manufacturing services to the international pharmaceutical industry. Patheon operates a network of 12 facilities in the United States, Canada and Europe, employing more than 4,650 people and serving a client base of more than 250 pharmaceutical and biotechnology companies.
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