Boston, MA 10/13/2014 (wallstreetpr) – BioDelivery Sciences International, Inc. (NASDAQ:BDSI) disclosed that it has hired former GlaxoWellcome executive, Chris Prue, as the VP of Regulatory Affairs and Quality Assurance.
Enough Experience
According to a statement issued to the media, Prue has over three decades of experience in quality assurance, as well as, regulatory affairs in the pharmaceutical industry. It cited that he has held increasing responsibility of the position in The Upjohn Company, GlaxoWellcome, Glaxo Inc., apart from Purdue Pharma LP.
BioDelivery Sciences said that till recently Prue was with Atherogenics as its VP of Regulatory Affairs and then in Cerenics Therapeutics as its VP of Regulatory Affairs, as well as, Quality Assurance. Effectively, he would be continuing in the same position in BioDelivery Sciences International, Inc. (NASDAQ:BDSI).
The company said that Prue was experienced in analgesic and opioid development in his career in the pharmaceutical industry. He also worked closely with analgesic and anesthetic products division at the Food and Drug Administration. It indicated that its regulatory affairs and quality assurance would report to him in recognition of his assurance in the respective fields.
Management Speaks
BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Executive VP of Product Development, Andrew Finn, said that he was excited to have Prue on his team as the company was engaged in expanding its capabilities to meet the growing needs. Interestingly, Prue would report to Finn.
The company also disclosed that Adrain Hepner would assume the new role of VP of Clinical Research and Medical Affairs. He was credited for leading the company’s BUNAVAIL for successful approval from the FDA.
Shares Downgraded
Separately, Roth Capital has downgraded the shares of BioDelivery Sciences International, Inc. (NASDAQ:BDSI) to Neutral rating from Buy. However, the brokerage has kept the price objective of $20.00. Though the stock got hammered on Friday following the downgrade of the company’s shares, the brokerage’s price target still represented an upside potential of about 23% based on the closing price of $15.39 on Friday.
