Readers are referred to the cautionary notes regarding Forward-looking Information at the end of this release.
WINNIPEG, June 15, 2012 /CNW/ - Cangene Corporation, a biopharmaceutical company primarily focused on hospital based therapeutics, today announces that it has appointed Mr. Jeff Lamothe as its new Chief Financial Officer, to be effective August 1, 2012. Mr. Lamothe brings over 20 years of business and financial experience to Cangene. He will be based at Cangene's headquarters in Winnipeg, Canada.
"We believe that Jeff will add significant value to our organization and the senior management team as we continue to position the Company for future growth," says John Sedor. "He is a proven leader with the skills and experience necessary to help Cangene execute on its strategy," Mr. Sedor adds.
Mr. Lamothe is currently the Chief Financial Officer for Smith Carter Architects and Engineers Incorporated. He previously served as President and Chief Executive Officer of Kitchen Craft Cabinetry after occupying the position of VP Finance and Chief Financial Officer with that organization. Past experience also includes serving as Chief Financial Officer for Motor Coach Industries as well as other roles at James Richardson & Sons, Limited and Ernst & Young LLP.
Mr. Lamothe is a Chartered Accountant and a graduate of the University of Manitoba where he obtained a Bachelor of Commerce (honours) degree. He has also completed the Queen's University Executive Program.
About Cangene Corporation
Cangene Corporation (TSX: CNJ), headquartered in Winnipeg, Canada, is one of the nation's oldest and largest biopharmaceutical companies focused on the development and commercialization of hospital based therapeutics. Cangene's products are sold worldwide and include products that have been accepted into the U.S. Strategic National Stockpile. Cangene has approximately 580 employees in six locations across North America. It operates manufacturing facilities in Winnipeg, Manitoba and Baltimore, Maryland (through its wholly-owned subsidiary Cangene bioPharma, Inc.) where it produces its own products and undertakes contract manufacturing for a number of customers. Cangene operates three U.S. and one Canadian plasma-collection facilities operating under the name Cangene Plasma Resources. For more information about Cangene, go to the Company's website at: www.cangene.com.
Cautionary note regarding Forward-looking Information
This document contains forward-looking statements about the Corporation, including its business operations, strategy, and expected financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "intends", "plans", "will", "believes", "estimates", or negative versions thereof, and similar expressions. In addition, any statement that may be made concerning future financial performance (including revenues, earnings or growth rates), ongoing business strategies or prospects, future use, safety and efficacy of unapproved products or unapproved uses of products, and possible future action by the Corporation are also forward-looking statements. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about the Corporation, economic factors and the biopharmaceutical industry generally. They are not guarantees of future performance. Actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation due to, but not limited to, important factors such as sales levels, fluctuations in operating results, the Corporation's reliance on a small number of customers including government organizations, the demand for new products and the impact of competitive products, service and pricing, the availability and cost of raw materials, and in particular, the cost, availability and antibody concentration in plasma; progress and cost of clinical trials, costs and possible development delays resulting from use of legal, regulatory or legislative strategies by the Company's competitors, uncertainty related to intellectual property protection and potential costs associated with its defence as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates; business competition; technological change, changes in government action, policies or regulations, changes in accounting policies and the effect of applying future accounting policy changes required under IFRS, unexpected judicial or regulatory proceedings, catastrophic events, the Corporation's ability to complete strategic transactions, and other factors beyond the control of management.
The reader is cautioned that the foregoing list of important factors is not exhaustive and there may be other factors listed in other filings with securities regulators, including factors set out under "Risk and Uncertainties" in the Corporation's Management Discussion and Analysis, which, along with other filings, is available for review at www.sedar.com. The reader is also cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, the Corporation has no intention to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information:
John A. Sedor
President and Chief Executive Officer
Ph: (204) 275-4201
Email: [email protected]