Spectrum Pharmaceuticals Celebrates 10 Years of Delivering Better Treatment Options to Cancer Patients and Building Shareholder Value
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In the first five years since its inception, Spectrum transitioned
from a small start-up entity to a growing, development-stage company
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In the second five years, Spectrum has transformed into a
successful commercial company
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Spectrum has two commercial products and ten drug candidates in
clinical development, with near-term catalysts including clinical data
from late-stage trials
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As one of the few profitable enterprises in the biotechnology
sector, Spectrum is in a formidable position to further grow the
company over the next five years, both in the U.S. and globally
HENDERSON, Nev.--(BUSINESS WIRE)--
Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with
a primary focus in oncology and hematology, marked its ten-year
anniversary in business. The milestone is being celebrated by employees
in the U.S. and a growing number of locations abroad as Spectrum expands
its worldwide presence. Spectrum is headquartered in Henderson, Nevada,
with its Research & Development facility located in Irvine, CA;
additional locations include Spectrum Pharma Canada and the Company's
subsidiary, OncoRx, in Mumbai, India. Plans include establishing and
expanding offices in Japan and in Europe to support international
operations.
"Spectrum has dramatically transformed itself over the past decade from
a start-up company with no approved products to a dynamic industry
leader with two approved drugs, substantial R&D opportunities and a
successful commercial infrastructure," said Rajesh C. Shrotriya, MD,
Chairman, Chief Executive Officer, and President of Spectrum
Pharmaceuticals who has led Spectrum from its inception. "Our mission
and passion always have been to deliver better options for patients with
cancer, and we are dedicated to building on our successes over the last
decade as we look toward the future. Our commitment to our patients, our
people and our investors helps explain why the company has continued to
receive a number of merit awards, including One of the Best Companies to
Work For in Orange County and One of the Fastest Growing Companies in
North America. Further, our drugs have been featured in top medical
conferences in the U.S. and abroad, as well as in multiple, major
peer-reviewed publications. With a growing presence in the US, we are
seeking to add more commercial products, build our pipeline with new
products in development, expand our global presence, and continue to
create a workplace that rewards excellence and is an exciting place to
work. Based on these and other strong assets, we believe we are in a
formidable position to continue the same growth pace over the next
decade."
More facts about Spectrum's 10th Anniversary:
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10 years ago, the market cap was under $5 million; Spectrum's market
cap reached $1 billion in July 2012.
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2 Commercial drugs on the Market FUSILEV® (levoleucovorin) for
Injection in the U.S. and ZEVALIN® (ibritumomab tiuxetan) Injection
for intravenous use, with record sales of $122.4 million in the first
half of 2012.
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The Company's first full year of profitability was 2011.
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More than 50,000 cancer patients treated in the past 2-3 years.
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10 pipeline drugs in the clinical development, with near-term
catalysts including clinical data from late-stage trials.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a leading biotechnology company focused on
acquiring, developing, and commercializing drug products, with a primary
focus in oncology and hematology. Spectrum currently markets two
oncology drugs ─ FUSILEV® (levoleucovorin) for Injection in the U.S. and
ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use, for which
the Company has worldwide marketing rights. Spectrum's strong track
record in in-licensing and acquiring differentiated drugs, and expertise
in clinical development have generated a robust, diversified, and
growing pipeline of product candidates in advanced-stage Phase 2 and
Phase 3 studies. More information on Spectrum is available at www.sppirx.com.
Forward-looking statement — This press release may contain
forward-looking statements regarding future events and the future
performance of Spectrum Pharmaceuticals that involve risks and
uncertainties that could cause actual results to differ materially.
These statements are based on management's current beliefs and
expectations. These statements include but are not limited to statements
that relate to our business and its future, including certain company
milestones, Spectrum's ability to identify, acquire, develop and
commercialize a broad and diverse pipeline of late-stage clinical and
commercial products, leveraging the expertise of partners and employees
around the world to assist us in the execution of our strategy, and any
statements that relate to the intent, belief, plans or expectations of
Spectrum or its management, or that are not a statement of historical
fact. Risks that could cause actual results to differ include the
possibility that our existing and new drug candidates may not prove safe
or effective, the possibility that our existing and new applications to
the FDA and other regulatory agencies may not receive approval in a
timely manner or at all, the possibility that our existing and new drug
candidates, if approved, may not be more effective, safer or more cost
efficient than competing drugs, the possibility that our efforts to
acquire or in-license and develop additional drug candidates may fail,
our lack of sustained revenue history, our limited marketing experience,
our dependence on third parties for clinical trials, manufacturing,
distribution and quality control and other risks that are described in
further detail in the Company's reports filed with the Securities and
Exchange Commission. We do not plan to update any such forward-looking
statements and expressly disclaim any duty to update the information
contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC.®, ZEVALIN®, and FUSILEV® are
registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING
CANCER CARE™ and the Spectrum Pharmaceuticals logos are trademarks owned
by Spectrum Pharmaceuticals, Inc.
© 2012 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Spectrum Pharmaceuticals
Shiv Kapoor, 702-835-6300
Vice
President, Strategic Planning & Investor Relations
InvestorRelations@sppirx.com
Source: Spectrum Pharmaceuticals, Inc.
News Provided by Acquire Media
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