NORWICH – Douglas L. Drysdale was appointed Monday to the newly created position of chief executive officer of Norwich Pharmaceuticals, Inc. and its parent company. Drysdale will also be elected to the Board of Directors of Norwich’s parent company. Drysdale joins Norwich from Actavis Group hf. where he served as corporate vice president, mergers & acquisitions and as a member of the Group’s Executive Board.
Christopher R. Calhoun will continue serving as president of Norwich Pharmaceuticals, which will remain the company’s U. S. center of excellence for the production of high quality pharmaceuticals for its industry customers as well as, potentially, for its new commercial division.
“We are very excited to have someone of Doug’s caliber as our CEO,” said Calhoun. “His in-depth pharmaceutical experience will help Norwich diversify and grow, while remaining focused on the high standard of quality and uncommon value that our current and future customers expect.”
In his new role, Drysdale will direct and implement the next phase of Norwich’s diversification and growth plan - the establishment and expansion of a new business division focused on one of the fastest growing sectors of the healthcare industry, specialty generic pharmaceuticals. This phase for Norwich, driven primarily through partnering and in-licensing, will encompass a significant increase in the company’s investment in its US commercial activities in 2008 and beyond.
Commenting on the appointment, E.J. Antonio, Managing Partner at AFI Partners said, “We are delighted at Doug’s decision to lead the Norwich team. The appointment of an executive of Doug’s experience is a testament to the ability of the high quality operations and people at Norwich to attract senior industry talent. Doug has demonstrated the strategic vision and leadership skills necessary to build and grow complex, multi-region businesses. We look forward to working with Doug and the Norwich Executive Team as we enter this exciting period in Norwich’s growth.”
Antonio added that “Norwich remains committed to providing outstanding, comprehensive manufacturing support to its pharmaceutical industry partners and to being a leading provider of custom outsourcing solutions to the pharmaceutical industry. Norwich’s commitment to delivering ‘Uncommon Value, Everyday Excellence’ for its customers will be stronger than ever.”