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Shaman

This article was originally published in The Tan Sheet

Executive Summary

San Francisco company switches focus from pharmaceuticals to botanicals, which Shaman believes offer better "near-term potential" for reaching the market. The company decided to close its pharmaceutical operations after FDA informed it that more clinical data would be required in an NDA for the antidiarrheal Provir. Shaman will seek shareholder approval to shift assets into its privately held subsidiary, Shaman Botanicals, and may spin off Botanicals as a separate public company. Shaman Botanicals currently is led by interim CEO Loren Israelsen ("The Tan Sheet" Feb. 1, In Brief). Shaman Pharmaceuticals CEO Lisa Conte will become president and chief operating officer of Botanicals

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