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SYNTEX PRESIDENT FREIMAN WILL ADD CEO TITLE

Executive Summary

SYNTEX PRESIDENT FREIMAN WILL ADD CEO TITLE on Aug. 1, continuing the gradual transition of top management responsibilities from current Chairman and CEO Albert Bowers, PhD. The transition has been accelerated recently due to Bowers' health. Freiman's promotion was announced on Feb. 23 in keeping with the company's tradition of announcing top management changes well in advance to provide for a more orderly transition. At the beginning of fiscal 1990, Freiman, 54, will become chief executive officer as well as the chairman of the company's Operating Committee -- a 10-member senior management policy-making body. Vice Chairman and Syntex Research President John Fried, PhD, 59, will assume the additional post of deputy chairman of the Operating Committee. Bowers, 58, will continue as chairman of the board of directors. Freiman will be taking the reins at a crossroads point for Syntex. The driving force of growth for Syntex for ten years, Naprosyn, appears to have peaked in the U.S. The NSAID posted its first quarterly U.S. sales decline during the three months ended Jan. 31. At the same time, Syntex is on the verge of expanding its product line into the cardiovascular and gastrointestinal markets. The company's launch of the calcium channel blocker Cardene is now in progress and an NDA for Ticlid for the treatment of stroke is approaching FDA submission. The company also has an important analgesic, Toradol, now emerging from the pipeline. In anticipation of a broadened product line, Syntex reorganized its sales force last fall and announced plans to expand it by nearly 50% over the next year. Freiman is a 27-year veteran of Syntex who began his career with the company in 1962 as a professional service representative. He was promoted to head of marketing at Syntex labs in 1972 and president of the subsidiary in 1978. Freiman later was elected to senior VP responsible for worldwide pharmaceutical operations and, in 1985, became exec VP with responsibility for Syntex worldwide pharmaceutical and agribusiness activities. In early 1987, Freiman assumed the title of president and chief operating officer. Syntex said that Bowers had recommended the transition plan to the company's directors "in order to allow him to gradually lessen his daily management responsibilities."? Bowers has been receiving medical care "for some time for a cardiovascular condition," Syntex reported. Bowers, who has headed Syntex during its development into one of the pharmaceutical majors, has also recently stepped down from the PMA board. He is one of the first top execs in the U.S. drug industry to come from an R&D background.

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