Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By



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.

You may also be interested in...

Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance

FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials

Shire Hopes To Sow Future Deals With $50M Venture Fund

Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth




Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts