SILVER SPRING, Md.,
June 11, 2014 /PRNewswire/
-- Pharmagen, Inc. (OTCPink: PHRX) (the "Company" or
"Pharmagen") today announced that Russell
Skibsted has been appointed as its Executive Vice President
and Chief Financial Officer.
Mr. Skibsted brings over 25 years of industry and financial
management experience, including over 10 years with CFO
responsibilities in public companies. Most recently, Mr. Skibsted
was Sr. Vice President, Chief Financial Officer and Secretary of
Aeolus Pharmaceuticals, a public biotechnology company developing
compounds to protect against radiological and chemical threats with
over $150 million in U.S. Government
funding. Prior to that, he was Sr. Vice President and Chief
Business Officer of Spectrum Pharmaceuticals, where he completed
one of 2008's largest licensing partnerships for a single,
non-platform drug. Previously he was CFO at Hana Biosciences,
a public biotech company focused on oncology, and Portfolio Partner
and CFO at Asset Management Company, one of Silicon Valley's oldest
and most respected venture capital firms. Mr. Skibsted
received his undergraduate degree in economics from Claremont McKenna College and his MBA from the
Stanford Graduate School of Business.
"The addition of Russell brings another Key Executive to the
Pharmagen Team. We are proud to have Russell on board," says
Richard Wolpow, Pharmagen's
Chairman. "His strong background in M&A, partnerships,
finance and operations, of both large and small public and private
companies, further supports our commitment to build a best-in-class
company and continue to strive to create transparency and financial
governance to our shareholders and the market," Wolpow
continued.
"Russell is a great compliment to the team, who along with the
recent addition of Boyd Relac as our
new COO, will take the lead in implementing the Company's long term
consolidation plan and building out the remaining executive team,"
says Mackie Barch, who, in
conjunction with Russell's appointment, and as part of the
Company's broader strategy, will assume the new position of Founder
and Vice Chairman of Pharmagen. "I understand and appreciate the
path we are on and I am excited to have the support and experience
that both Russell and Boyd bring, Barch
continued.
"I'm excited to join the Pharmagen team," Mr. Skibsted stated,
"Pharmagen is positioned to lead the compounding pharmacy industry
away from small businesses, which have been largely unregulated, to
new, best-in-class levels of performance. Pharmagen will bring
trust and confidence back to the compounding pharmacy."
About Pharmagen
Pharmagen, Inc. ("Pharmagen"), and wholly owned subsidiaries and
operating divisions Pharmagen Laboratories, Inc., Pharmagen
Distribution, LLC and Pharmagen Nutraceuticals, Inc. offers
innovative solutions to the nations sterile pharmaceutical
crisis. With a multi-solution approach, Pharmagen is helping
to meet the demand of the health provider market through
independent wholesale, compounding, and IT solutions.
Nationally focused, Pharmagen is a distributor of specialty drugs,
compounding and admix pharmacy and producer of over-the-counter
("OTC") branded multivitamins. Pharmagen currently functions as a
just-in-time source of supply for hospitals for those products that
are hard-to-find..
Contact: 888-264-4597 or info@pharmagenrx.com
Follow Us on Twitter: @pharmagenrx or
The Drug Shortage
Report http://drugshortagereport.blogspot.com/
Safe Harbor Statement
Information in this document constitute forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The words
"forecast", "anticipate", "estimate", "project", "intend",
"expect", "should", "believe", and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve, and are subject to known and unknown risks,
uncertainties and other factors which could cause Pharmagen actual
results, performance (financial or operating) or achievements to
differ from the future results, performance (financial or
operating) or achievements expressed or implied by such
forward-looking statements. The risks, uncertainties and
other factors are more fully discussed in Pharmagen's filings with
the U.S. Securities and Exchange Commission. All
forward-looking statements attributable to Pharmagen herein are
expressly qualified in their entirety by the above-mentioned
cautionary statement. Pharmagen disclaims any obligation to
update forward-looking statements contained in this estimate,
except as may be required by law.
SOURCE Pharmagen, Inc.