Dallas, Texas 02/07/2014 (FINANCIALSTRENDS) – The $307 million market capped development stage drug maker Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) has been ringing in changes in its top management, even as it nears the completion of important phase of testing of its target drugs.
The drug firm announced on 27th February, that Joseph G. Oliveto has been named President and Chief Executive Officer and also a member of the Company’s Board of Directors. It has to be noted that Mr. Oliveto is no new comer to this role as he has been serving as the Company’s Interim President and Chief Executive Officer ever since July 2012.
On the heels of this development, came Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) announcing that it has appointed Keith W. Schmidt as Chief Commercial Officer with the specific task of launching new drugs which are nearing their approval from FDA. Mr Schmidt has a 30 year vast domain expertise in both the domestic and international pharmaceutical markets.
At Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) Keith W. Schmidt task would be well cut out in terms of executing to launch the soon to be approved Northera and also bring his experience to bear in reviewing existing product line for strategic alternatives. In his acceptance speech Mr Schmidt has accepted the challenge of making sure that NOH gets rid of the underserved orphan tag.
In his welcome note to the new CCO, Chelsea Therapeutics International Ltd. (NASDAQ:CHTP), President and Chief Executive Officer Joseph G. Oliveto has been quoted to have said that, “While we work toward the PDUFA action date for our Northera new drug application, the Company will continue to pursue a dual path of preparing for the potential commercial launch of Northera and actively assessing our strategic alternatives. Keith has a strong understanding of the neurogenic orthostatic hypotension orphan market, having led the team which designed our initial commercial strategies and having more recently consulted for the Company.”