GNW-Adhoc: Idorsia announces a change to commercial leadership

^Ad hoc announcement pursuant to Art. 53 LR
* Simon Jose to step down from his position as Chief Commercial Officer and
member of the Idorsia Executive Committee to pursue other opportunities
* Otto Schwarz will advise the management team on commercial operations
Allschwil, Switzerland - May 30, 2023
Idorsia Ltd (SIX: IDIA) today announced that Simon Jose will leave his position
as Chief Commercial Officer and member of the Idorsia Executive Committee to
pursue other opportunities. Otto Schwarz has agreed to advise the management
team on commercial operations from July 1, 2023.
Jean-Paul Clozel, MD and Chief Executive Officer of Idorsia commented:
"Simon has made a significant contribution to Idorsia, establishing our
commercial organization from scratch, while preparing two products for launch in
different geographies. He leaves a solid foundation for the Idorsia team to
build on, and I wish him every success with his future."
Jean-Paul Clozel continued:
"The task ahead of us is to translate the excellent prescriber and patient
feedback, as well as the solid demand for QUVIVIQ into a global commercial
success and bring the company to sustainable profitability. Having worked with
Otto Schwarz at Actelion and as a consultant for commercialization of
daridorexant in the early days of Idorsia, I have absolute confidence that he is
the right person to provide a fresh perspective and help the management team
steer our commercialization efforts."
About Otto Schwarz
Otto is a highly accomplished industry executive with more than 35 years of
experience. He has launched multiple major specialty products on a global basis.
Most recently, Otto served as Executive Vice President, Chief Operating Officer
and a member of the Actelion Executive Committee, until the acquisition of
Actelion by Johnson & Johnson.
Prior to Actelion, Otto also served as Executive Vice-President Commercial
Operations at Nycomed, and Executive Board Member at Altana Pharma. He also
spent almost 20 years with Schering-Plough and Eli Lilly in Switzerland, Canada,
the US and Germany.
Otto Schwarz is an Austrian citizen and has a PhD in pharmaceutical chemistry
from Vienna University.
Notes to the editor
About Idorsia
Idorsia Ltd is reaching out for more - We have more ideas, we see more
opportunities and we want to help more patients. In order to achieve this, we
will develop Idorsia into a leading biopharmaceutical company, with a strong
scientific core.
Headquartered near Basel, Switzerland - a European biotech-hub - Idorsia is
specialized in the discovery, development and commercialization of small
molecules to transform the horizon of therapeutic options. Idorsia has a 20-year
heritage of drug discovery, a broad portfolio of innovative drugs in the
pipeline, an experienced team of professionals covering all disciplines from
bench to bedside, and commercial operations in Europe, Japan, and the US - the
ideal constellation for bringing innovative medicines to patients.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017
and has over 1,300 highly qualified specialists dedicated to realizing our
ambitious targets.
For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com
media.relations@idorsia.com
www.idorsia.com (http://www.idorsia.com)
The above information contains certain "forward-looking statements", relating to
the company's business, which can be identified by the use of forward-looking
terminology such as "estimates", "believes", "expects", "may", "are expected
to", "will", "will continue", "should", "would be", "seeks", "pending" or
"anticipates" or similar expressions, or by discussions of strategy, plans or
intentions. Such statements include descriptions of the company's investment and
research and development programs and anticipated expenditures in connection
therewith, descriptions of new products expected to be introduced by the company
and anticipated customer demand for such products and products in the company's
existing portfolio. Such statements reflect the current views of the company
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause the actual results, performance or
achievements of the company to be materially different from any future results,
performances or achievements that may be expressed or implied by such forward-
looking statements. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated, believed,
estimated or expected.
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