For the latest media releases and news about Pharmaxis Ltd, please select from the following articles. Material news announcements made by Pharmaxis are first filed with the Australian Securities Exchange (ASX) and are also available on the ASX website.
In line with its recently stated aim to seek commercialisation deals for Cystic Fibrosis products in European markets, Pharmaxis Pharmaceuticals Limited have today announced that they have signed a partnership agreement for UK distribution rights with Yasoo Health Limited, with Pharmaxis taking on the UK sales and marketing of Yasoo’s AquADEKs® range of multi-vitamin products.Read full media release - pdf
Pharmaceutical company Pharmaxis Ltd (ASX:PXS) today announced remuneration details for its Chief Executive Officer and the grant of performance rights to key employees in measures designed to retain and incentivise staff remaining with the Company.
Chairman Mr Malcolm McComas said, “The Company’s revised business plan requires experienced leadership to deliver on the objectives we have set. The appointment of Gary Phillips as Chief Executive Officer in March was the first step in repositioning Pharmaxis. Gary has more than 30 years’ experience in the international pharmaceutical sector. A flattened management structure means he will retain the majority of his former responsibilities as Chief Operating Officer. The Board believes his remuneration package is competitive, aligned to the creation of shareholder value and appropriate to the responsibility and task at hand.
“After careful consideration, the Board has decided to use performance rights to provide short term retention incentives and medium term performance bonuses to key staff and to align performance to the major business transforming milestones being pursued by the Company over the next two years. The criteria used to assess performance for the vesting of performance rights will be an equal weighting of corporate and personal objectives, with the former focussing on partnering Bronchitol, reducing the net cash burn and increasing sales of Bronchitol.”Read full media release - pdf
Pharmaceutical company Pharmaxis (ASX:PXS) advises that the US Food and Drug Administration (FDA) has included Aridol® on an Import Alert list which has the effect of stopping the import of Aridol into the US until such time as it is removed from the list.
Pharmaxis has not received any direct communication from the FDA in relation to the listing and is seeking to clarify the reasons for the listing with the FDA. The Company believes the listing may relate to issues outstanding from a 2012 scheduled FDA audit of a third party contract packer. Pharmaxis continues to work with the packer in its response to the audit findings in order to have Aridol removed from the Import Alert as soon as possible.
Sales of Aridol in the US averaged $33,000 per month for the March quarter. Pharmaxis has approximately three months of inventory in the US.Read full media release - pdf