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Mallinckrodt Announces Leadership Appointments After Questcor Acquisition

Fri, 08/22/2014 - 9:32am
Associated Press

DUBLIN - Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, announced today that Gary Phillips, MD, current Senior Vice President and Chief Strategy Officer, has been appointed to serve as Senior Vice President and President of the Company’s Autoimmune and Rare Disease business, which includes the commercial organization supporting H.P. Acthar ® Gel. Additionally, Ray Furey, formerly Senior Vice President and Chief Compliance Officer at Questcor Pharmaceuticals, has been appointed as Senior Vice President and the Chief Compliance Officer at Mallinckrodt. The appointments are effective immediately.

In his new role, Dr. Phillips will assume responsibility for the Acthar franchise and all of its sales, support and service activities. He will continue to serve as a member of Mallinckrodt’s Executive Committee. Mr. Furey will also join Mallinckrodt’s Executive Committee and have a dotted line reporting relationship to the Mallinckrodt Board of Directors. Both executives will report directly to Mark Trudeau, Chief Executive Officer of Mallinckrodt. A search is underway for the Chief Strategy Officer role.

“I look forward to working closely with Gary and Ray as we create a diversified, high-growth specialty pharmaceuticals company, with significantly increased scale, revenues, profitability and cash flow,” said Mark Trudeau, President and Chief Executive Officer of Mallinckrodt. “Since joining Mallinckrodt last year, Gary has brought focus to our growth strategy and energized our BD&L activities. Gary was one of the key architects of the Questcor transaction, and we are confident that he will achieve strong revenue and profit growth as we successfully expand the business into new indications. Ray is joining our team after more than two decades in the pharmaceutical industry. He has tremendous expertise and direct experience in compliance at leading global pharmaceutical companies. We are looking forward to having him as part of the Executive Committee and to the strong contributions he will provide to our expanded business.”

Gary Phillips

Dr. Phillips, a former practicing physician, understands the devastating impact on patients of the serious medical conditions that Acthar is approved to address, and the decisions that treating physicians must make as they search for medicines to help their patients struggle to manage these conditions after other medicines have failed or lost their efficacy. He also has extensive experience with autoimmune disease areas from his past work at Wyeth, Novartis and EMD Serono, and has run large commercial operations as president of Bausch & Lomb’s pharmaceutical and surgical unit as well as serving as president of Reckitt Benckiser Pharmaceuticals.

Ray Furey

Mr. Furey comes to Mallinckrodt after three years at Questcor leading the company’s strong compliance organization and program. He spent 17 years at Genentech in various capacities, including healthcare compliance, commercial operations, finance, regulatory and manufacturing. Before joining Questcor, Mr. Furey was Corporate Compliance Officer at OSI Pharmaceuticals.

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