Catalyst Pharmaceuticals Inc (NASDAQ:CPRX), a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, today announced the appointment of Paul J. Merrigan as Chief Commercial Officer. Mr. Merrigan will be responsible for leading Catalyst’s marketing, sales and commercial operations. He replacesRichard Daly, who served as interim Chief Commercial Officer during the search. Mr. Daly will continue in his role as a member of the board of directors.
“Paul brings a wealth of commercial experience to Catalyst from a variety of senior roles at several leading rare disease biopharmaceutical companies,” said Patrick J. McEnany, Chief Executive Officer. “In addition, Paul has extensive knowledge in the commercialization of novel therapeutics for orphan indications and specific knowledge in commercialization of therapeutics for rare neuromuscular disorders. Paul is passionate about his desire to provide safe and effective therapies to patients suffering from rare diseases. He is the perfect addition to Catalyst and our senior leadership team as we build our sales and marketing capabilities in preparation for the commercialization of Firdapse®.”
“I’m excited to help prepare for a launch that will bring a product to the LEMS community that I believe serves a significant unmet medical need,” addedMr. Merrigan. “With the rolling NDA submission underway, I look forward to working with the Catalyst team to make a meaningful difference for patients and build upon the great work that has already been done to develop and ready the market in advance of a potential product launch.”
Prior to joining Catalyst, Mr. Merrigan served as Vice President, Global Marketing at Aegerion Pharmaceuticals. Following the successful launch of Aegerion’s Juxtapid®/Lojuxta® for the rare disease homozygous familial hypercholesterolemia, he transitioned into the role of Vice President, Commercial Strategy and Advocacy. In that role, he was responsible for strategic planning, portfolio management, global market access and pricing of commercial products and patient advocacy, and recently, following Aegerion’s acquisition of this product, he led the commercial integration and re-launch of Myalept® for the orphan disease generalized lipodystrophy in the US market.
Mr. Merrigan was previously Vice President and General Manager of Neuromuscular Diseases at Genzyme Corporation, where he was responsible for the US and global launch and commercialization of Myozyme®/Lumizyme® for the orphan indication Pompe disease and also responsible for leading the strategic commercial development of a product for Duchenne muscular dystrophy under a strategic alliance joint venture. Mr. Merrigan also held various positions within Genzyme, including Vice President of Global Strategic Marketing for Hereditary Angioedema, Senior Director of Global Marketing for Gaucher Disease, Director of Health Economics and Outcomes Assessment and Associate Director of Clinical Marketing Programs.
Prior to joining Genzyme, Mr. Merrigan held positions at Genentech, Marion Laboratories and Pfizer in the areas of sales, marketing and research. Mr. Merrigan received his B.S in chemistry from Trinity College in Hartford, CT and his Executive M.B.A. from Boston University. (Original Source)
Shares of Catalyst Pharmaceutical Partners closed last Friday at $4.11. CPRX has a 1-year high of $5.80 and a 1-year low of $2.19. The stock’s 50-day moving average is $4.78 and its 200-day moving average is $4.15.
On the ratings front, Catalyst Pharmaceutical has been the subject of a number of recent research reports. In a report issued on August 12, Roth Capital analyst Scott Henry reiterated a Buy rating on CPRX, with a price target of $7, which represents a potential upside of 70.3% from where the stock is currently trading. Separately, on August 11, Piper Jaffray’s Charles Duncan reiterated a Buy rating on the stock and has a price target of $7.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Scott Henry and Charles Duncan have a total average return of 27.5% and 10.5% respectively. Henry has a success rate of 59.4% and is ranked #33 out of 3737 analysts, while Duncan has a success rate of 53.4% and is ranked #681.
Catalyst Pharmaceuticals Inc is abiopharmaceutical company. The Company is engaged in the development and commercialization of prescription drugs targeting rare (orphan) neurological diseases and disorders.