Depomed CEO Pelzel resigns for personal reasons
Drug developer Depomed Inc. said Monday that President and CEO Carl A. Pelzel resigned for personal reasons and will be replaced by board member James A. Schoeneck.
The Menlo Park, Calif., company said Schoeneck, 53, joined the company's board in 2007. He has served as CEO of BrainCells Inc., a private biopharmaceutical company, since 2005.
Pelzel had joined Depomed in 2005 as vice president of marketing and commercial development. He was named president and CEO in 2007.
His resignation comes a couple months after regulators approved Depomed's drug Gralise to treat pain following the viral infection shingles. Pelzel had said in a statement that the drug's approval was a "major step" toward Depomed's goal of sustainable profitability starting this year.
Last month, Depomed said it would regain the rights to Gralise from Abbott Laboratories, which had its license, and planned to start selling it by the end of this year.