ACADIA Pharmaceuticals Announces Appointment of Michael J. Yang as Executive Vice President, Chief Commercial Officer
Terrence O. Moore Retires as Chief Commercial Officer
SAN DIEGO–(BUSINESS WIRE)–Mar. 30, 2017– ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system (CNS) disorders, today announced Michael J. Yang has joined ACADIA as Executive Vice President and Chief Commercial Officer. Mr. Yang succeeds Terrence O. Moore, who has served as ACADIA’s Chief Commercial Officer since 2013, and is now retiring.
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Michael J. Yang, Executive Vice President, Chief Commercial Officer (Photo: Business Wire)
“I am delighted to welcome Michael to our team,” said Steve Davis, ACADIA’s President and Chief Executive Officer. “Michael is a seasoned executive with extensive expertise in successfully launching and growing major pharmaceutical products across a number of therapeutic areas, including CNS. His patient-centric approach, proven leadership skills, and focus on innovation will be of great value to the ongoing commercialization of NUPLAZID in Parkinson’s disease psychosis and its potential expansion into other areas of large unmet need.”
“Central nervous system disorders are one of the biggest challenges to our healthcare system and severely impact the lives of both patients and their families,” said Michael Yang. “As an innovative, first-in-class product, NUPLAZID is transforming the treatment of patients suffering from Parkinson’s disease psychosis. I look forward to building on the success of NUPLAZID.”
“We thank Terry Moore for his significant contributions to ACADIA over the past four years,” added Mr. Davis. “Under his leadership, we have laid a strong foundation for the continued growth of NUPLAZID. We wish him well in his retirement as he plans to move back to the East Coast and spend more time with his family.”
Mr. Moore commented, “I am proud of what we have been able to achieve – building the commercial foundation, launching NUPLAZID, and bringing this novel drug to patients in need. After more than 30 years in the life sciences industry, I’m pleased to hand the reins over to Michael to lead the next phase of growth for ACADIA, and I look forward to watching the company reach new levels of success.”
Mr. Yang joins ACADIA from Janssen Pharmaceutical Companies of Johnson & Johnson, where he served as President of Janssen Biotech Inc. and was responsible for building Janssen’s U.S. Immunology business, generating more than $8 billion in annual revenues. Mr. Yang began his career at Johnson & Johnson in 1997 and held numerous senior commercial positions such as President, CNS where he was responsible for growing the anti-psychotic long-acting therapy portfolio. His broad background of commercialization and general management experience also includes roles as the Worldwide General Manager of the Medical Device companies of Therakos, Inc and Veridex, LLC, where he launched new platforms, expanded global revenues and diversified the product lines. Prior to that, Mr. Yang was Vice President of Sales and Marketing, Oncology at Ortho Biotech Inc.
Mr. Yang earned his Bachelor of Science degree in Business Administration, Marketing from San Diego State University. Mr. Yang will serve as a member of ACADIA’s executive team and report to Mr. Davis, effective today.
About NUPLAZID® (pimavanserin)
NUPLAZID is the first and only FDA-approved treatment for hallucinations and delusions associated with Parkinson’s disease (PD) psychosis. NUPLAZID is a non-dopaminergic, selective serotonin inverse agonist preferentially targeting 5-HT2A receptors that are thought to play an important role in PD Psychosis. NUPLAZID is an oral medicine taken once a day with a recommended dose of 34 mg (two 17-mg tablets). ACADIA discovered this new chemical entity and holds worldwide rights to develop and commercialize NUPLAZID.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders. ACADIA maintains a website at www.acadia-pharm.com to which we regularly post copies of our press releases as well as additional information and through which interested parties can subscribe to receive e-mail alerts.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements include but are not limited to statements related to the benefits to be derived from NUPLAZID (pimavanserin); the utility or expansion of pimavanserin in indications other than hallucinations and delusions associated with PD Psychosis; and any future growth or success of NUPLAZID or ACADIA. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug discovery, development, and commercialization, and the fact that past results of clinical trials may not be indicative of future trial results. For a discussion of these and other factors, please refer to ACADIA’s annual report on Form 10-K for the year ended December 31, 2016 as well as ACADIA’s subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and ACADIA undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof, except as required by law.
Important Safety Information and Indication for NUPLAZID (pimavanserin) tablets
WARNING: INCREASED MORTALITY IN ELDERLY PATIENTS WITH
DEMENTIA-RELATED PSYCHOSIS
Elderly patients with
dementia-related psychosis treated with antipsychotic drugs are at an
increased risk of death. NUPLAZID is not approved for the treatment of
patients with dementia-related psychosis unrelated to the hallucinations
and delusions associated with Parkinson’s disease psychosis.
NUPLAZID is an atypical antipsychotic indicated for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
QT Interval Prolongation: NUPLAZID prolongs the QT interval. The use of NUPLAZID should be avoided in patients with known QT prolongation or in combination with other drugs known to prolong QT interval including Class 1A antiarrhythmics or Class 3 antiarrhythmics, certain antipsychotic medications, and certain antibiotics. NUPLAZID should also be avoided in patients with a history of cardiac arrhythmias, as well as other circumstances that may increase the risk of the occurrence of torsade de pointes and/or sudden death, including symptomatic bradycardia, hypokalemia or hypomagnesemia, and presence of congenital prolongation of the QT interval.
Adverse Reactions: The most common adverse reactions (≥2% for NUPLAZID and greater than placebo) were peripheral edema (7% vs 2%), nausea (7% vs 4%), confusional state (6% vs 3%), hallucination (5% vs 3%), constipation (4% vs 3%), and gait disturbance (2% vs <1%).
Drug Interactions: Strong CYP3A4 inhibitors (eg, ketoconazole) increase NUPLAZID concentrations. Reduce the NUPLAZID dose by one-half. Strong CYP3A4 inducers may reduce NUPLAZID exposure, monitor for reduced efficacy. Increase in NUPLAZID dosage may be needed.
Renal Impairment: No dosage adjustment for NUPLAZID is needed in patients with mild to moderate renal impairment. Use of NUPLAZID is not recommended in patients with severe renal impairment.
Hepatic Impairment: Use of NUPLAZID is not recommended in patients with hepatic impairment. NUPLAZID has not been evaluated in this patient population.
Pregnancy: Use of NUPLAZID in pregnant women has not been evaluated and should therefore be used in pregnancy only if the potential benefit justifies the potential risk to the mother and fetus.
Pediatric Use: Safety and efficacy have not been established in pediatric patients.
Dosage and Administration: Recommended dose: 34 mg per day, taken orally as two 17-mg tablets once daily, without titration.
For additional Important Safety Information, including boxed warning, please see the full Prescribing Information for NUPLAZID at https://www.nuplazid.com/pdf/NUPLAZID_Prescribing_Information.pdf.
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Investor Contact:
ACADIA Pharmaceuticals Inc.
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(858) 558-2871
ir@acadia-pharm.com
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