SAN DIEGO, July 12, 2001 (PRIMEZONE) -- Women First HealthCare, Inc. (Nasdaq:WFHC) has elected Michael T. Sember, executive vice president of business development for Elan Corporation, plc, to the Company's board of directors. Mr. Sember replaces former board member Anthony P. Maris, who passed away in March 2001.
Mr. Sember has headed Elan's New York business development unit since 1994. He is responsible for strategic partnerships and related investment activities. In this role Mr. Sember has negotiated many licensing and joint venture structured agreements and is responsible for the corporate oversight of a significant investment portfolio.
Mr. Sember has spent his entire career of 28 years in the pharmaceutical industry in senior executive positions emphasizing corporate development. Prior to joining Elan in 1991, Sember was with Marion Merrill Dow, which today is part of Aventis S.A.
"Having Mike join our board is a significant achievement for Women First and the most immediate tangible benefit of our recently announced Midrin(r) acquisition," said Edward F. Calesa, Women First chairman, president and CEO. "Mike is unquestionably among the top business development experts in the pharmaceutical industry, and his knowledge of the specialty pharmaceutical market will be invaluable to us as we seek to acquire additional products and structure accretive deals. I am delighted that Mike has agreed to join our Board."
Mr. Sember currently serves on the board of directors of publicly traded Iomed, Inc. (AMEX:IOX) and Acorda Therapeutics, FeRex and Zealand Pharmaceuticals, three privately-held companies focusing, respectively, on spinal cord injury, oncology and diabetes. He holds an MBA from Rockhurst College and a BS from the University of Pittsburgh.
About Women First HealthCare, Inc.
Founded in 1996, Women First HealthCare, Inc. is a San Diego-based specialty pharmaceutical company. Its mission is to help midlife women make informed choices regarding their health care needs and to provide pharmaceutical and lifestyle products to meet those needs. Women First is specifically targeted to women age 40+ and their clinicians. The Company's Pharmaceutical Division, which includes a nationwide team of experienced sales specialists, contacts primarily OB/GYNs and Nurse Practitioners with estrogen replenishment options -- ORTHO-EST(r) Tablets (estropipate) and Esclim(tm) (estradiol transdermal system) -- and the prescription headache management product, Midrin(r) (isometheptene mucate, USP, dichloralphenazone, USP and acetaminophen, USP). The Consumer Business is responsible for Daily Difference(tm) dietary supplements, developed in consultation with Tufts University School of Nutrition Science and Policy, and the Company's line of self-care products available through its As We Change(r) national mail order catalog and Internet retailer, www.aswechange.com. Trialogue(tm), the Corporate Marketing Division, is responsible for providing access to Women First's network of opinion leaders and clinicians through strategic marketing programs for sale to major pharmaceutical companies. The Company's business strategy includes the acquisition and licensing of additional prescription products that support its mission. Further information about Women First can be found online at www.womenfirst.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to various risks, and Women First HealthCare, Inc. cautions you that any forward-looking information is not a guarantee of future performance. Women First HealthCare, Inc. disclaims any intent or obligation to update these forward-looking statements. Actual results could differ materially due to a number of factors, including (i) we have incurred significant losses since we were founded in November 1996, and if midlife women do not use, and their clinicians do not recommend, the products we offer, we will continue to experience significant losses; (ii) there is a limited market awareness of our Company and the products and services we offer; (iii) we may need additional financing in 2001 to fund our operations, acquire new products, and make planned capital expenditures, which financing may not be available on acceptable terms, if at all; (iv) we may not be able to identify appropriate licensing, co-promotion or acquisition candidates in the future or to take advantage of the opportunities we identify; (v) we and our products face significant competition; (vi) if we do not successfully manage any growth we experience, we may experience increased expenses without corresponding revenue increases; (vii) we are dependent on single sources of supply for all of the products we offer; and (viii) additional factors set forth in the Company's Securities and Exchange Commission filings including its Annual Report on Form 10-K for the period ended December 31, 2000 and its Form 10-Q for the period ending March 31, 2001.