Greenville, NC, January 30, 2014 --(PR.com
)-- Mayne Pharma Group Limited has named Stefan Cross as President of Mayne Pharma USA.
Cross is responsible for leading all of Mayne Pharma’s existing business operations in the United States, and for spearheading new business development initiatives.
Among those responsibilities includes managing the continued growth of contract pharmaceutical services as provided by Mayne Pharma’s subsidiary, Metrics Inc., and positioning it to become one of North America’s leading providers of solid oral dose formulation development and analytical support services. To that end, the company plans to make significant investments in Metrics’ fast-track, proof-of-concept, and first-time-in-man programs, potent and cytotoxic product handling, and clinical trial material manufacturing for contract services clients.
Cross also will oversee the expansion of Mayne Pharma USA’s pharmaceutical products division, which has been one of the fastest-growing U.S. generics businesses in recent years. This business – established less than 10 years ago – now markets more than 20 products and has 20 products under development with 10 ANDAs filed with the FDA. Cross will focus on expanding the U.S. product portfolio through both organic development and further bolt-on acquisitions.
Prior to this most recent promotion, Cross served as Mayne Pharma’s vice president of business and corporate development, and played a key role in the global commercialization of the company’s SUBACAP® anti-fungal product. He has been extensively involved in integrating Metrics with Mayne Pharma, and in executing the company’s business strategy in Australia and the United States since joining in 2012.
Cross brings more than 20 years of industry experience to his role. He previously headed marketing efforts in the Asia Pacific region for Hospira Inc., a leading global provider of pharmaceuticals and medical devices. He also led Hospira’s commercial operations in China, Hong Kong and Taiwan. Prior to that, Cross worked for six years with Mayne Pharma Limited in Europe and Australia, and eight years with F.H. Faulding & Co. Limited.
“Stefan has an impressive track record of success in the pharmaceutical industry and will add tremendous value to our U.S. business,” said Scott Richards, CEO of Mayne Pharma. “His breadth of experience covers commercial operations, marketing, product licensing, business strategy and M&A. I look forward to accelerating the growth of our U.S. businesses with Stefan’s support and leadership.”
Cross succeeds Phil Hodges, who founded Metrics Inc. almost two decades ago and recently retired as president of the company. Hodges serves on the board of directors of Mayne Pharma Group Limited.
About Mayne Pharma
Mayne Pharma is a publicly traded specialty pharmaceutical company listed on the Australian Securities Exchange (ASX: MYX). The company develops and manufactures branded and generic product globally – either directly or through distribution partners – while applying its drug-delivery expertise for contract development and manufacturing services.
Mayne Pharma has a 30-year track record of innovation and success in developing new oral drug delivery systems, and these technologies have been successfully commercialized in numerous products that have been marketed around the world.
Mayne Pharma has drug development and manufacturing facilities in Salisbury, Australia, with expertise in formulating complex oral dose forms, including controlled substances, modified release products and inherently unstable compounds.
About Mayne Pharma USA
Mayne Pharma USA consists of two main business segments that focus on contract pharmaceutical services and the development and manufacturing of branded and generic pharmaceutical products.
Through Mayne Pharma USA’s contract services subsidiary, Metrics Inc., the company offers pharmaceutical development and manufacturing services to clients worldwide. Areas of expertise include pharmaceutical formulation development; first-time-in-man formulations; clinical trial materials manufacturing for Phase I, II, and III trials; and analytical method development and validation services leading to commercial-scale manufacturing.
Capabilities include highly potent, cytotoxic and unstable compounds; Schedule II-V controlled substances; and products with poor bioequivalence, for which Mayne Pharma offers a vast portfolio of drug delivery methods.
Mayne Pharma USA also distributes a range of branded and generic pharmaceutical products through its subsidiaries that include Midlothian Inc. and Libertas Pharma.