TORONTO, Aug. 04, 2020 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce the appointment of Chris Halyk – former President of Janssen Inc. (Canada), one of the Janssen Pharmaceutical Companies of Johnson & Johnson – to its Board of Directors, effective immediately. This is the third appointment that the Company’s Board has made this year to prepare MediPharm Labs for its next stage of international growth and development.
Mr. Halyk has 35 years of pharmaceutical industry experience including 33 years with Johnson & Johnson. Among his many career highlights, he served as: Vice-President, Sales and Marketing and a member of the Janssen Management Board with responsibility for innovations in direct-to-consumer advertising, patient education and sales force automation; Managing Director of Ortho Biotech, the biopharmaceutical division of Janssen Inc.; and from 2006 until his retirement in 2019 as the President of Janssen Inc. (Canada) where under his leadership, the company became the largest pharmaceutical company in Canada. During his tenure, his accomplishments included, bringing innovative products, services and solutions to market along with new technologies and treatments in oncology, immunology, neuroscience, infectious diseases and vaccines, cardiovascular and metabolism and pulmonary hypertension.
“Chris brings a wealth of pharmaceutical industry experience, deep leadership expertise and extensive connections to our Board earned while serving the largest and most diversified healthcare company in the world,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “His qualifications are very pertinent to MediPharm Labs as we advance our standing in the worldwide market for pharmaceutical-quality medical cannabis. We have set very high standards for membership on our Board and I am delighted that Chris has chosen to join us.”
Mr. Halyk’s appointment, which follows an extensive search process, reflects the objective of ensuring that the Board of Directors and its committees are comprised of professionals having the knowledge, experience, skills, expertise, and diversity of perspective necessary for effective governance of the Company.
“I am very impressed by MediPharm Labs evolution from start up to emerging medical cannabis industry leader and its commitment to GMP-grade pharmaceutical practices in all of its operations,” said Mr. Halyk. “I am also impressed with the evolution of its Board and leadership team. From my perspective, this is a company that is putting all the right pieces in place for long term, global success and I look forward to participating actively in its development.”
Mr. Halyk holds an Honours Business Administration degree from Ivey Business School at Western University. He served as the Chair of the Board of Directors for Rx&D, the industry association for Canada’s Research-Based Pharmaceutical Companies (now named Innovative Medicines Canada) from 2012 until 2013. Before joining Johnson & Johnson, Mr. Halyk worked for pharmaceutical company Warner-Lambert in Toronto.
With Mr. Halyk’s appointment, MediPharm Labs’ Board of Directors will consist of nine members, six of whom are independent.
In connection with his appointment, the Company granted 300,000 options to Mr. Halyk at an exercise price set at the close of business on July 31, 2020. Each grant has a five-year term expiring July 31, 2025.
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard built clean rooms. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision -dosed cannabis products for its customers. Through its wholesale and white label platforms, they formulate, consumer-test, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian Extraction facility. MediPharm Labs Australia was established in 2017.
For further information, please contact:
Laura Lepore, VP, Investor Relations
Telephone: 416-913-7425 ext. 1525
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.