BEDMINSTER, N.J., Nov. 13 /CNW/ -- NPS Pharmaceuticals, Inc. (Nasdaq:
NPSP) announced today the promotion of Andrew Rackear to senior vice
president, legal affairs, and general counsel, effective November 15, 2007,
and the appointment of Luke M. Beshar as senior vice president and chief
financial officer, effective November 20, 2007. Mr. Rackear replaces Val
Antczak, who is retiring from NPS in conjunction with the closing of the
company's Salt Lake City facility. Mr. Beshar replaces Gerard Michel, who is
leaving the company on November 19, 2007 to pursue new professional
opportunities but will remain a consultant to NPS on an as-needed basis to
ensure a smooth transition of his responsibilities.
Mr. Rackear joined NPS in July 2007 as associate general counsel.
Previously, he was vice president and general counsel at Chugai Pharma, USA
and vice president and general counsel at Amersham Biosciences Corp. He
received his law degree from New York University and is a member of the New
York and New Jersey state bar associations.
Mr. Beshar is a former CFO of various public and private companies and
has more than twenty five years of general and financial management
experience. Most recently, he served as executive vice president and chief
financial officer of Cambrex Corporation, a global life sciences company. He
was also senior vice president and chief financial officer at Dendrite
International, a leading provider of services to the life sciences industry.
Mr. Beshar began his career with Arthur Andersen & Co. He is a certified
public accountant, obtained his undergraduate degree in accounting and finance
from Michigan State University and is a graduate of The Executive Program at
the Darden Graduate School of Business, University of Virginia.
NPS president and CEO, Dr. Tony Coles, stated: "I congratulate Andy on
his promotion and extend a warm welcome to Luke, who brings great financial
and general management experience to NPS. I also wish to acknowledge the
contributions of Val and Gerry, who played key roles in restructuring NPS so
that the company could continue to develop its late-stage product candidates
and pursue its mission of treating diseases and transforming lives. I am
grateful for their guidance and counsel and thank them for their willingness
to ensure a smooth transition of responsibilities to their successors. Val
and Gerry have both been creative and effective forces in the life of the
company and we wish them great success in their next endeavors. Gerry, in
particular, has also done a great job strengthening the company's balance
sheet this year through a series of innovative financings which have enabled
us to retire our 2008 convertible debt."
NPS Pharmaceuticals is a biopharmaceutical company focused on the
development and commercialization of small molecules and recombinant proteins
as drugs, primarily for the treatment of metabolic, bone and mineral, and
central nervous system disorders. The company has drug candidates in various
stages of clinical development. Additional information is available on the
company's website, http://www.npsp.com.
Note: Statements made in this press release, which are not historical in
nature, constitute forward-looking statements for purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and beliefs and are
subject to a number of factors and uncertainties that could cause actual
results to differ materially from those described in the forward-looking
statements. All information in this press release is as of November 13, 2007
and we undertake no duty to update this information. A more complete
description of these risks can be found in our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K for the
year-ended December 31, 2006 and our Quarterly Report on Form 10-Q for the
quarter-ended September 30, 2007.
For further information:
For further information: Investors, Brandi Simpson of NPS
Pharmaceuticals, Inc., +1-908-450-5616; or Media, Justin Jackson of Burns
McClellan, Inc., +1-212-300-8327, for NPS Pharmaceuticals, Inc. Web Site: