Spectrum Pharmaceuticals Announces Promotion of Joseph Turgeon to Senior Vice President and Chief Commercial Officer as Company Builds on Recent Commercial Reorganization to Advance Growth and Market Penetration over the Next Five Years
Spectrum Pharmaceuticals Also Announces Expansion of the Sales and
Marketing Leadership Team with the Appointments of Robert Fralin as Vice
President of Sales and Al DeJesus as Executive Director, Marketing
Mr. Turgeon is a proven expert in the oncology marketplace, with
over 25 years of pharma sales experience, including various executive
leadership roles at Amgen
Under his leadership, Amgen Oncology launched four new drugs and
revenues rose from $2 billion to over $6 billion
Mr. Fralin and Mr. DeJesus, both former leaders in Amgen's oncology
business, bring to Spectrum over 35 years of combined commercial
Spectrum recently completed expansion of sales force size to over
60 professionals to support three marketed drugs, with the capacity to
expand as additional drugs are added to the commercial pipeline
Six Regional Managers leading business in the U.S. for FUSILEV®
(levoleucovorin) for Injection, FOLOTYN® (pralatrexate injection), and
ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use
HENDERSON, Nev.--(BUSINESS WIRE)--
Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with
fully integrated commercial and drug development operations with a
primary focus in hematology and oncology, today announced the promotion
of Joseph Turgeon to Senior Vice President and Chief Commercial Officer
(CCO). Mr. Turgeon joined Spectrum in October 2012 as Senior Vice
President Sales & Commercial Operations, bringing over 25 years of
pharma sales experience, including various executive leadership roles at
Amgen. In his new capacity as CCO, Mr. Turgeon will be responsible for
global commercial and sales activities, reporting to Spectrum
Pharmaceuticals' Executive Vice President, Chief Operating Officer, Ken
Keller. Currently, Spectrum markets three oncology products in the U.S.
— FUSILEV® (levoleucovorin) for Injection; FOLOTYN® (pralatrexate
injection); and ZEVALIN® (ibritumomab tiuxetan) Injection for
intravenous use — with ex-U.S. rights for ZEVALIN as well.
"As we reported in our presentation earlier this week at the Annual J.P.
Morgan Healthcare Conference, Spectrum is committed to continued strong
growth over the next five years, with three anticancer drugs on the
market and nearly ten drugs in clinical development," said Dr.
Shrotriya. "Mr. Turgeon, working closely with Ken Keller, Executive Vice
President, Chief Operating Officer, already has contributed greatly to
executing our planned strategy for expedited growth of the Company under
our recent commercial reorganization, and we are pleased to announce his
promotion to CCO and responsibilities for our global commercial
"Every day at Spectrum, we see new opportunities and new ways to apply
our knowledge to further accelerate our momentum and increase our
footprint in the market. Each of our current products on the market has
a unique set of benefits for patients and unique abilities to address
current needs, as is true of our late-stage development product
candidates. With our commercial reorganization and drive to succeed,
Spectrum is in a stronger position than ever to communicate these
advantages to physicians and patients," stated Mr. Turgeon.
The Company also announced today the further expansion of its sales and
marketing leadership, with the appointments of Robert Fralin as Vice
President of Sales and Al DeJesus as Executive Director, Marketing.
Previously, Mr. Fralin served as Executive Director of Amgen's Bone
Health Business Unit and prior to that, as Executive Director of Amgen's
Oncology Business Unit, which had annual revenues exceeding $1 billion.
Mr. DeJesus is the former Executive Director of Amgen's Global Oncology
Marketing, with responsibilities including worldwide planning for
Amgen's oncology products and global partnerships. Both individuals will
report directly to Mr. Turgeon.
Mr. Turgeon continued, "Spectrum continues to attract top talent, and
the appointments of Robert Fralin and Al DeJesus further demonstrate the
excitement we feel at the company at the start of 2013. Each brings
their unique perspectives and expertise, and each will be invaluable to
the success and expansion of Spectrum's presence in the U.S. and other
key territories where we will gain a presence in the oncology market."
In November, 2012, Spectrum undertook a strategic strengthening of its
sales force in the U.S., implementing a structure of six geographic
regions and expanding the sales team to 60 professionals in order to
effectively and efficiently add more oncology products in the future. In
the near term, multiple synergies are anticipated, including from the
fact that the sales force will market ZEVALIN and FOLOTYN to the same
physicians. Further, each regional manager is empowered to align sales
resources and tailor promotional and other physician and patient support
initiatives to meet our customers' needs, allowing Spectrum to become
even more of a customer-facing commercial organization. The realignment
of existing resources is expected to result in a significantly greater
hematology and oncology footprint, increased promotional reach, and more
efficient physician engagement.
About FUSILEV® (levoleucovorin) for injection
FUSILEV, a novel folate analog, is approved as a ready-to-use solution
(FUSILEV Injection), and as freeze-dried powder (FUSILEV for Injection).
FUSILEV is indicated for use in combination chemotherapy with
5-fluorouracil in the palliative treatment of patients with advanced
metastatic colorectal cancer. FUSILEV is also indicated for rescue after
high-dose methotrexate therapy in osteosarcoma. FUSILEV is also
indicated to diminish the toxicity and counteract the effects of
impaired methotrexate elimination and of inadvertent overdosage of folic
acid antagonists. FUSILEV, under various trade names, is marketed
outside the United States by Pfizer, Sanofi-Aventis, and Takeda.
Important FUSILEV® (levoleucovorin) Safety Considerations
FUSILEV is dosed at one-half the usual dose of racemic d,l-leucovorin.
FUSILEV is contraindicated for patients who have had previous allergic
reactions attributed to folic acid or folinic acid. Due to calcium
content, no more than 16-mL (160-mg) of levoleucovorin solution should
be injected intravenously per minute. FUSILEV enhances the toxicity of
fluorouracil. Concomitant use of d,l-leucovorin with
trimethoprim-sulfamethoxazole for pneumocystis carinii pneumonia in HIV
patients was associated with increased rates of treatment failure in a
placebo-controlled study. Allergic reactions were reported in patients
receiving FUSILEV. Vomiting (38%), stomatitis (38%) and nausea (19%)
were reported in patients receiving FUSILEV as rescue after high dose
methotrexate therapy. The most common adverse reactions ( > 50%) in
patients with advanced colorectal cancer receiving FUSILEV in
combination with 5-fluorouracil were diarrhea, nausea and stomatitis.
FUSILEV may counteract the antiepileptic effect of phenobarbital,
phenytoin and primidone, and increase the frequency of seizures in
Full prescribing information can be found at www.FUSILEV.com.
FOLOTYN, (pralatrexate injection), a folate analogue metabolic
inhibitor, was discovered by Memorial Sloan-Kettering Cancer Center, SRI
International and Southern Research Institute and developed by Allos
Therapeutics. In September 2009, the U.S. Food and Drug Administration
(FDA) granted accelerated approval for FOLOTYN for use as a single agent
for the treatment of patients with relapsed or refractory PTCL. This
indication is based on overall response rate. Clinical benefit such as
improvement in progression-free survival or overall survival has not
been demonstrated. FOLOTYN has been available to patients in the U.S.
since October 2009. An updated analysis of data from PROPEL, the pivotal
study of FOLOTYN in patients with relapsed or refractory PTCL, was
published in the March 20, 2011 issue of the Journal of Clinical
Oncology. FOLOTYN has patent protection through July 2022, based on a
five-year patent term extension through the Hatch-Waxman Act. Please see
full Prescribing Information for FOLOTYN at www.FOLOTYN.com.
Important FOLOTYN® Safety Information
Warnings and Precautions
FOLOTYN may suppress bone marrow function, manifested by
thrombocytopenia, neutropenia, and anemia. Monitor blood counts and omit
or modify dose for hematologic toxicities.
Mucositis may occur. If greater-than or equal to Grade 2 mucositis is
observed, omit or modify dose. Patients should be instructed to take
folic acid and receive vitamin B12 to potentially reduce
treatment-related hematological toxicity and mucositis.
Fatal dermatologic reactions may occur. Dermatologic reactions may be
progressive and increase in severity with further treatment. Patients
with dermatologic reactions should be monitored closely, and if severe,
FOLOTYN should be withheld or discontinued. Tumor lysis syndrome may
occur. Monitor patients and treat if needed.
FOLOTYN can cause fetal harm. Women should avoid becoming pregnant while
being treated with FOLOTYN and pregnant women should be informed of the
potential harm to the fetus.
Use caution and monitor patients when administering FOLOTYN to patients
with moderate to severe renal function impairment.
Elevated liver function test abnormalities may occur and require
monitoring. If liver function test abnormalities are greater-than or
equal to Grade 3, omit or modify dose.
The most common adverse reactions were mucositis (70%), thrombocytopenia
(41%), nausea (40%), and fatigue (36%). The most common serious adverse
events are pyrexia, mucositis, sepsis, febrile neutropenia, dehydration,
dyspnea, and thrombocytopenia.
Use in Specific Patient Population
Nursing mothers should be advised to discontinue nursing or the drug,
taking into consideration the importance of the drug to the mother.
Co-administration of drugs subject to renal clearance (e.g., probenecid,
NSAIDs, and trimethoprim/sulfamethoxazole) may result in delayed renal
Please see FOLOTYN® Full Prescribing Information at www.FOLOTYN.com.
About ZEVALIN® and the ZEVALIN Therapeutic Regimen
ZEVALIN (ibritumomab tiuxetan) injection for intravenous use, is
indicated for the treatment of patients with relapsed or refractory,
low-grade or follicular B-cell non-Hodgkin's lymphoma (NHL). ZEVALIN is
also indicated for the treatment of patients with previously untreated
follicular non-Hodgkin's Lymphoma who achieve a partial or complete
response to first-line chemotherapy.
ZEVALIN is a CD20-directed radiotherapeutic antibody. The ZEVALIN
therapeutic regimen consists of two components: rituximab, and
Yttrium-90 (Y-90) radiolabeled ZEVALIN for therapy. ZEVALIN builds on
the combined effect of a targeted biologic monoclonal antibody augmented
with the therapeutic effects of a beta-emitting radioisotope.
Important ZEVALIN® Safety Information
Deaths have occurred within 24 hours of rituximab infusion, an essential
component of the ZEVALIN therapeutic regimen. These fatalities were
associated with hypoxia, pulmonary infiltrates, acute respiratory
distress syndrome, myocardial infarction, ventricular fibrillation, or
cardiogenic shock. Most (80%) fatalities occurred with the first
rituximab infusion. ZEVALIN administration can result in severe and
prolonged cytopenias in most patients. Severe cutaneous and
mucocutaneous reactions, some fatal, can occur with the ZEVALIN
Please see full Prescribing Information, including BOXED WARNINGS, for
ZEVALIN and rituximab. Full prescribing information for ZEVALIN can be
found at www.ZEVALIN.com.
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 and its affiliates market
three oncology drugs ─ FUSILEV® (levoleucovorin) for
Injection in the U.S.; FOLOTYN® (pralatrexate injection),
also marketed 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.®, FUSILEV®,
FOLOTYN®, and ZEVALIN®
are registered trademarks of Spectrum Pharmaceuticals, Inc and its
affiliates. REDEFINING CANCER CARE™ and
the Spectrum Pharmaceuticals logos are trademarks owned by Spectrum
© 2013 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Spectrum Pharmaceuticals, Inc.
Shiv Kapoor, Vice President,
Strategic Planning & Investor Relations
Source: Spectrum Pharmaceuticals, Inc.
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