MISSISSAUGA, Ontario,
Nov. 30, 2017 /PRNewswire/
-- Aralez Pharmaceuticals Inc. (NASDAQ:
ARLZ) (TSX: ARZ) ("Aralez" or the "Company") today announced
that Scott J. Charles, Chief
Financial Officer, is leaving the Company to pursue other
opportunities, effective immediately. Michael Kaseta will assume the position of
Interim Chief Financial Officer ("CFO") along with his current
duties as Corporate Controller. Mr. Kaseta has served as Corporate
Controller since 2016 and brings a breadth of experience in all
aspects of the Company's financial operations. Prior to joining
Aralez, Mr. Kaseta served as CFO of Sanofi North America, Global
Services.
"The Board and I want to wish Scott the best in his future
endeavors," said Adrian Adams, Chief
Executive Officer of Aralez. "We have full confidence in Mike's
ability to lead our finance operations, and we expect a seamless
transition. As outlined in our recent third quarter press release,
we are now positioning the Company for the next phase of growth as
illustrated in our updated 2017 financial guidance and preliminary
2018 outlook. We are confident that we are on the pathway to
achieve sustained profitability and growth as we execute on our
goals to deliver shareholder value."
About Aralez Pharmaceuticals Inc.
Aralez
Pharmaceuticals Inc. (NASDAQ: ARLZ) (TSX: ARZ) is a global
specialty pharmaceutical company focused on delivering meaningful
products to improve patients' lives while creating shareholder
value by acquiring, developing and commercializing products
primarily in cardiovascular and other specialty areas. Aralez's
Global Headquarters is in Ontario,
Canada, the U.S. Headquarters is in Princeton, New Jersey and the Irish
Headquarters is in Dublin,
Ireland. More information about Aralez can be found at
www.aralez.com.
Aralez Pharmaceuticals US Inc. Contact:
Nichol L. Ochsner
Executive Director, Investor Relations & Corporate
Communications
732-754-2545
nochsner@aralez.com
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that constitute
"forward-looking statements" within the meaning of applicable
securities laws. Forward-looking statements include, but are not
limited to, statements regarding and our expectation of a seamless
transition of the CFO position; positioning the Company for the
next phase of growth as illustrated in our updated 2017 financial
guidance and preliminary 2018 outlook, which is included in our
third quarter 2017 financial results press release dated
November 9, 2017; the Company's
pathway to achieve sustained profitability and growth as we execute
our goals to deliver shareholder value; and other statements that
are not historical facts, and such statements are typically
identified by use of terms such as "may," "will," "would,"
"should," "could," "expect," "plan," "intend," "anticipate,"
"believe," "estimate," "predict," "likely," "potential,"
"continue," or the negative or similar words, variations of these
words or other comparable words or phrases, although some
forward-looking statements are expressed differently.
You should be aware that the forward-looking statements included
herein represent management's current judgment and expectations,
and are based on current estimates and assumptions made by
management in light of its experience and perception of historical
trends, current conditions and expected future developments, as
well as other factors that it believes are appropriate and
reasonable under the circumstances, but there can be no assurance
that such estimates and assumptions will prove to be correct and,
as a result, the forward-looking statements based on those
estimates and assumptions could prove to be incorrect. Accordingly,
actual results, level of activity, performance or achievements or
future events or developments could differ materially from those
expressed or implied in the forward-looking statements.
The Company's operations, 2017 updated financial guidance and
preliminary 2018 financial outlook involve risks and uncertainties,
many of which are outside of the Company's control, and any one or
any combination of these risks and uncertainties could also affect
whether the forward-looking statements ultimately prove to be
correct and could cause the Company's actual results, level of
activity, performance or achievements or future events or
developments to differ materially from those expressed or implied
by the forward-looking statements. These risks and uncertainties
include, without limitation, the Company's inability to maintain a
sales force of sufficient scale for the commercialization of its
products in a timely and cost-effective manner; the Company's
failure to successfully commercialize its products and product
candidates; competition, including increased generic competition;
costs and delays in the development and/or approval of the
Company's product candidates, including as a result of the need to
conduct additional studies or due to issues with third-party API or
finished product manufacturers, or the failure to obtain such
approval of the Company's product candidates for all expected
indications or in all targeted territories; with respect to certain
products, dependence on reimbursement from third-party payors and
the possibility of a failure to obtain coverage or reduction in the
extent of reimbursement; the inability to maintain or enter into,
and the risks resulting from the Company's dependence upon,
collaboration or contractual arrangements necessary for the
development, manufacture, commercialization, marketing, sales and
distribution of any products, including the Company's dependence on
AstraZeneca AB and Horizon Pharma USA, Inc. for the sales and marketing of
Vimovo, the Company's dependence on Patheon Pharmaceuticals Inc.
for the manufacture of Yosprala, the Company's dependence on a
subsidiary of Merck & Co. for the supply of Zontivity and the
Company's dependence on AstraZeneca AB for the manufacture and
supply of Toprol-XL and its authorized generic (AG); the Company's
dependence on maintaining and renewing contracts with customers,
distributors and other counterparties (certain of which may be
under negotiation from time to time), including the Company's
inability to renew existing contracts or enter into new contracts
on favorable terms, and the risks that we may not be able to
maintain the Company's existing terms with certain customers,
distributors and other counterparties; the Company's ability to
protect its intellectual property and defend its patents, including
if generic competitors successfully appeal the recent District
Court decision with respect to certain Vimovo patents; regulatory
obligations and oversight; failure to successfully identify,
execute, integrate, maintain and realize expected benefits from new
acquisitions, such as the acquisitions of Tribute, Zontivity and
Toprol-XL and its AG; failure to realize the expected benefits of
the Company's initiatives to reduce costs and improve
profitability; fluctuations in the value of certain foreign
currencies, including the Canadian dollar, in relation to the U.S.
dollar, and other world currencies; changes in laws and
regulations, including tax laws and unanticipated tax liabilities
and laws and regulations regarding the pricing of pharmaceutical
products; risks related to the Company's financing and liquidity;
general adverse economic, market and business conditions; and those
risks detailed from time-to-time under the caption "Risk Factors"
and elsewhere in the Company's Securities and Exchange Commission
(SEC) filings and reports and Canadian securities law filings,
including in the Company's Annual Report on Form 10-K for the year
ended December 31, 2016 and its
Quarterly Report on Form 10-Q for the third quarter ended
September 30, 2017, which are
available on EDGAR at www.sec.gov, on SEDAR at www.sedar.com, and
on the Company's website at www.aralez.com, and those described
from time to time in the Company's future reports filed with the
SEC and applicable securities regulatory authorities in
Canada. You should not place undue
importance on forward-looking statements and should not rely upon
this information as of any other date. We undertake no obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
unless required by law.
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SOURCE Aralez Pharmaceuticals Inc.