Sfbc (NASDAQ:SFCC)
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SFBC International, Inc. (NASDAQ:SFCC), a provider of
drug development services to branded pharmaceutical, biotechnology,
generic drug and medical device companies, today announced that it
recently accepted the resignation of Gregory B. Holmes, Pharm.D, as
president of corporate development and from its board of directors.
"Following the recent decision to shut down the Company's
operations in Florida, we mutually agreed to Greg's departure because
his focus had largely been related to these operations," commented
Jeffrey P. McMullen, president and chief executive officer. "We would
like to thank Greg for his contributions and dedication to the Company
throughout his tenure."
Jack Levine, chairman of the board, added, "The Company is
aggressively pursuing candidates for its board of directors and is in
the process of interviewing a number of leading prospects."
The parties have agreed in principle to a mutual separation and
the terms of the separation agreement are being filed on a Form 8-K
with the SEC.
About SFBC International, Inc.
SFBC International is an international drug development services
company offering a comprehensive range of clinical development,
clinical and bioanalytical laboratory, and consulting services to the
branded pharmaceutical, biotechnology, generic drug and medical device
industries. SFBC has more than 30 offices, facilities and laboratories
with more than 2,000 employees strategically located throughout the
world. For more information, visit the Company's Web site at
http://www.sfbci.com or http://www.pharmanet.com.
Forward-Looking Statements
Certain statements made in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the "Act"). Additionally words such as "seek,"
"intend," "believe," "plan," "estimate," "expect," "anticipate" and
other similar expressions are forward-looking statements within the
meaning of the Act. Some or all of the results anticipated by these
forward-looking statements may not occur. Factors that could cause or
contribute to such differences include, but are not limited to, our
ability to leverage the strong reputation of PharmaNet, whether
adverse publicity relating to SFBC's Miami operations causes clients
to select competitors, not only for early stage branded clinical
trials but also for other aspects of SFBC's business; SFBC's ability
to resolve open issues relating to its Miami property including
whether it can successfully appeal and/or enjoin the Miami-Dade County
Unsafe Structures Board ruling and any related fines or expenses if we
are unsuccessful, the associated costs and expenses with discontinuing
the Company's operations in Miami and Ft. Myers, whether a building
permit will be issued, whether SFBC will prevail in the pending land
lease litigation; continued adverse publicity related to actions of
the United States Senate Finance Committee; developments with respect
to the SEC's inquiry and securities class action lawsuits and
derivative lawsuits; SFBC's assessment of its current FDA inspections;
SFBC's ability to successfully achieve and manage the technical
requirements of specialized clinical trial services, while complying
with applicable rules and regulations; regulatory changes; changes
affecting the clinical research industry; a reduction of outsourcing
by pharmaceutical and biotechnology companies; SFBC's ability to
compete internationally in attracting clients in order to develop
additional business; cancellation of contracts; SFBC's ability to
retain and recruit new employees; SFBC's clients' ability to provide
the drugs and medical devices used in its clinical trials; SFBC's
future stock price; SFBC's financial guidance; and the national and
international economic climate as it affects drug development
operations. Further information can be found in SFBC's risk factors
contained in its Form 10-K filed with the SEC in 2006 and other
filings with the Securities and Exchange Commission.