BRIDGEWATER, N.J.--(BUSINESS WIRE)--Amneal Pharmaceuticals, Inc. (NYSE: AMRX), today announced that the company has appointed Pradeep Bhadauria as Chief Scientific Officer (CSO), effective immediately. He will succeed current CSO Dr. Shankar Hariharan, who is leaving Amneal on May 24, 2019.
Pradeep brings significant R&D expertise to Amneal, including more than 20 years leading the development capabilities for several leading generic and specialty pharmaceutical companies. Throughout his career, his leadership has resulted in the development and filing of more than 200 products, including numerous first-to-file and first-to-market opportunities.
“We are excited to have Pradeep join our leadership team at this important moment for Amneal,” said Rob Stewart, President and CEO of Amneal. “His deep R&D expertise across nearly all dosage forms and demonstrated strength in developing complex generics and other difficult-to-formulate products will be a strong asset to our company as we continue to diversify our pipeline and portfolio.”
“I would like to thank Shankar for his exceptional contributions during the last nine years with Amneal,” added Stewart. “His leadership and vision have helped deliver the company to the strong position it stands in today, with robust capability and one of the industry’s largest pipelines. Thanks to his efforts, we are well positioned to continue evolving Amneal to support further pipeline and portfolio growth.”
“I am thrilled to be joining Amneal at this exciting time for the company,” said Bhadauria. “I look forward to working closely with Amneal’s excellent Scientific Affairs team to help advance and expand the company’s compelling pipeline and continue bringing important treatment options to patients.”
Pradeep joins Amneal from Apotex, Inc., where he most recently served as Executive Vice President, Global R&D, responsible for leading the company’s entire global R&D activities. He also managed a large generic R&D portfolio across many dosage forms for various global markets. Prior to joining Apotex, he served as Vice President - Generic R&D for Allergan/Actavis.
Pradeep holds a Master of Pharmacy (M.Pharm) from the Birla Institute of Technology in India and a Bachelor of Pharmacy from SGSITS, Devi Ahilya University in India. He also holds several patents and has published research in various publications.
Amneal Pharmaceuticals, Inc. (NYSE: AMRX), headquartered in Bridgewater, NJ, is an integrated pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. The Company has approximately 6,500 employees in its operations in North America, Asia, and Europe, working together to bring high-quality medicines to patients primarily within the United States.
Amneal is one of the largest and fastest growing generic pharmaceutical manufacturers in the United States, with an expanding portfolio of generic products to include complex dosage forms in a broad range of therapeutic areas. The Company also markets a portfolio of branded pharmaceutical products through its Specialty Pharma division focused principally on central nervous system disorders and parasitic infections. For more information, visit www.amneal.com.
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Certain statements contained herein, regarding matters that are not historical facts, may be forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future, including, among other things, future operating results and financial performance, product development and launches, integration strategies and resulting cost reduction, market position and business strategy. Words such as “may,” “will,” “could,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “assume,” “continue,” and similar words are intended to identify estimates and forward-looking statements.
The reader is cautioned not to rely on these forward-looking statements. These forward-looking statements are based on current expectations of future events. If the underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Amneal Pharmaceuticals, Inc. (the “Company”). Such risks and uncertainties include, but are not limited to: the impact of global economic conditions; our ability to integrate the operations of Amneal Pharmaceuticals LLC and Impax Laboratories, LLC pursuant to the business combination completed on May 4, 2018, and our ability to realize the anticipated synergies and other benefits of the combination; our ability to successfully develop and commercialize new products; our ability to obtain exclusive marketing rights for our products and to introduce products on a timely basis; the competition we face in the pharmaceutical industry from brand and generic drug product companies, and the impact of that competition on our ability to set prices; our ability to manage our growth; our dependence on the sales of a limited number of products for a substantial portion of our total revenues; the risk of product liability and other claims against us by consumers and other third parties; risks related to changes in the regulatory environment, including United States federal and state laws related to healthcare fraud abuse and health information privacy and security and changes in such laws; changes to FDA product approval requirements; risks related to federal regulation of arrangements between manufacturers of branded and generic products; the impact of healthcare reform and changes in coverage and reimbursement levels by governmental authorities and other third-party payers; the continuing trend of consolidation of certain customer groups; our reliance on certain licenses to proprietary technologies from time to time; our dependence on third party suppliers and distributors for raw materials for our products and certain finished goods; our dependence on third party agreements for a portion of our product offerings; our ability to make acquisitions of or investments in complementary businesses and products on advantageous terms; legal, regulatory and legislative efforts by our brand competitors to deter competition from our generic alternatives; the significant amount of resources we expend on research and development; our substantial amount of indebtedness and our ability to generate sufficient cash to service our indebtedness in the future, and the impact of interest rate fluctuations on such indebtedness; the high concentration of ownership of our Class A Common Stock and the fact that we are controlled by a group of stockholders. A further list and descriptions of these risks, uncertainties and other factors can be found in the Company’s most recently filed Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed on March 1, 2019, and in the Company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.amneal.com or on request from the Company.
Forward-looking statements included herein speak only as of the date hereof and we undertake no obligation to revise or update such statements to reflect the occurrence of events or circumstances after the date hereof.