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Questcor appoints SVP corporate strategic development

Michael Aldridge joins from Australian early development company Xenome

US biopharma Questcor Pharmaceuticals has named Michael Aldridge as its first senior VP, corporate strategic development.

His main responsibilities will include identifying potential partnerships and acquisitions for the company, which specialises in developing treatments for difficult-to-treat autoimmune and inflammatory disorders.

These moves could see it expand outside the US with its lead product HP Acthar Gel  (repository corticotropin injection), an injectable drug, which is approved by the FDA in several indications including the treatment of proteinuria in idiopathic types of nephrotic syndrome and the treatment of acute exacerbations of multiple sclerosis in adults.

Development programmes that complement Acthar are also a potential as Questcor looks to expand.

"Michael brings an extensive background in the global biotechnology and pharmaceutical industries that is relevant to Questcor's long term strategic growth and development," said Steve Cartt, chief operating officer of Questcor.

"Our flagship product, Acthar, has proven to be a product of great clinical utility and promise, and the addition of Michael to the Questcor team bolsters our ability to further build our portfolio within a longer term global strategy.”

Aldrige's most recent position was as CEO and managing director of Xenome, an Australia-headquartered early development company.

He has also served as CEO and managing director of Peplin, a company that was acquired by LEO Pharma.

Prior to joining the healthcare industry, Aldridge was an investment banker holding senior positions at firms including Wilson HTM Investment Group, Bear Stearns & Co and Volpe.

30th January 2013

From: Sales

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