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Medexus names pharma veteran Michael Pine senior vice president of business development and strategy

Pine will work to develop the company’s product portfolio in both the US and Canada

Boardroom with three people
Most recently, Pine worked as senior vice president of business development and licensing at Lupin Pharmaceuticals

Medexus Pharmaceutical Inc (CVE:MDP) (OTCQX:MEDXF) has named pharma executive Michael Pine as its senior vice president of business development and strategy, the company announced Friday.

Pine has experience at both large and small pharmaceutical companies, including work in business development and licensing, M&A, investment banking, business strategy, product marketing US-managed markets and operations. 

Most recently, Pine worked as senior vice president of business development and licensing at Lupin Pharmaceuticals. He led that company’s efforts to expand its revenue base of more than $2 billion further into branded and specialty products, with a focus on the North American markets.

READ: Medexus gets Health Canada nod to market tumor imaging material Gleolan for neurosurgery

Pine has also served in senior roles at companies such as Novartis AG (NYSE:NVS), Kos Pharmaceuticals, Organon Biosciences, Pfizer Inc (NYSE:PFE) and JP Morgan Chase. 

“We are pleased to welcome Michael to the team,” CEO Ken d’Entremont said in a statement. “Michael has extensive experience in business development and brings a successful track record of expanding product lines. Having such an experienced pharmaceutical industry professional and business leader on board will assist us in identifying in-licensing opportunities and acquisitions of new complementary assets that can leverage our North American sales force.”

At Medexus, Pine will work to develop the company’s product portfolio in both the US and Canada. His appointment is effective from September 21.

“Michael can make an immediate contribution to the numerous deals we are currently negotiating and will help accelerate our M&A and licensing strategy to grow revenue, increase cash flow and drive economies of scale,” d’Entremont added.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

Quick facts: Medexus Pharmaceuticals Inc

Price: 4.22 CAD

TSX-V:MDP
Market: TSX-V
Market Cap: $61 m
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