One way to keep up with new hires and promotions of executives at area firms is to read the “People in the News” feature in The Inquirer’s Business section on Mondays.
Still, every road that leads to Philadelphia has a lane that heads in the other direction. Some of those new hires are replacing executives who wind up finding gainful employment in places where hoagies have a different name.
Three executives from the region’s life-sciences sector recently landed at other companies with unfamiliar zip codes.
Kevin K. Gordon, who resigned as chief financial officer at Teleflex Inc. , a medical-device-maker based in Limerick, in January, was named chief financial officer at Quintiles Transnational Corp., a multibillion-dollar contract-research organization based in Durham, N.C., that is owned by private-equity firms.
John E. Osborn, who stepped down as executive vice president and general counsel of Cephalon Inc. of Frazer in March 2008, was hired for the same jobs at US Oncology Inc., a health network focused on cancer care and based in The Woodlands, Texas. It reported a net loss of $51.6 million on $3.5 billion in revenue in 2009.
Osborn had joined Cephalon in March 1997, when the company was still a research-stage firm. Over the years, he played a key role in resolving government investigations into product quality and sales-promotion practices at Cephalon.
Colin W. Stewart, the former president and chief executive officer of CollaGenex Pharmaceuticals Inc. from late 2003 until its sale in 2008, was named president and CEO of Amarin Corp. P.L.C., a biopharmaceutical firm focused on cardiovascular disease with operatons in Dublin, Ireland, and Mystic, Conn.
CollaGenex, a Newtown, Bucks County-based developer of skin-care treatments, was bought by Galderma Laboratories L.P., of Fort Worth, Texas, for about $420 million.
US WorldMeds L.L.C., which acquired Malvern’s Solstice Neurosciences Inc., is unusual in the drug industry:
It has no venture capital or institutional investors, according to chief operating officer H. Lee Warren Jr.
The Louisville, Ky.-based US WorldMeds is the seventh start-up company for its CEO, P. Breckinridge Jones, who told the Courier-Journal newspaper in 2006 that he intended to build a big company that would keep its headquarters in Louisville. US WorldMeds has 120 shareholders - all friends and family, Warren said, and 90 percent are from the Louisville area.
A 19-year veteran of GlaxoSmithKline P.L.C. (based in Durham, N.C.), Warren declined to disclose the key financials of US WorldMeds.
Warren had been in Malvern this week assessing the operations of Solstice Neurosciences, the maker of a drug called Myobloc. Most of Solstice’s 58 employees work at its production operations in California.
The Malvern offices will be wound down over the next 90 days as corporate functions are transferred to Louisville.