AVANIR Pharmaceuticals Holds Annual Meeting of Shareholders
Aliso Viejo, Calif., February 1, 2007 – Avanir Pharmaceuticals (NASDAQ: AVNR) reported on the results of its 2006 Annual Meeting of Shareholders held today. David J. Mazzo, Ph.D. President and Chief Executive Officer of Chugai Pharma USA, Craig A. Wheeler, Chief Executive Officer of Momenta Pharmaceuticals, and Scott M. Whitcup, M.D., Executive Vice President and Head of Research and Development of Allergan, Inc. were all re-elected to the Board as Class III Directors to serve a three-year term. In addition to the three Directors elected at this meeting, the Directors continuing in office are Stephen G. Austin, Eric K. Brandt, Charles A. Mathews, Dennis G. Podlesak, Paul G. Thomas, and Jonathan T. Silverstein. All of the directors, with the exception of Eric Brandt, are independent outside directors.
In addition to electing the Directors, the shareholders also ratified the selection of Deloitte & Touche, LLP as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2007.
Avanir Pharmaceuticals is focused on developing, acquiring and commercializing novel therapeutic products for the treatment of chronic diseases. Avanir's products and product candidates address therapeutic markets that include the central nervous system, cardiovascular disorders, inflammation and infectious diseases. Avanir currently markets FazaClo®, the only orally disintegrating formulation of clozapine for the management of severely ill schizophrenic patients who fail to respond adequately to standard schizophrenic drug treatments. FazaClo is also indicated for reducing the risk of suicidal behavior in patients with schizophrenic or schizoaffective disorder. For full prescribing information and important safety information regarding FazaClo, please visit www.fazaclo.com. Zenvia™, Avanir's lead product candidate for the treatment of involuntary emotional expression disorder (IEED) also known as pseudobulbar affect, is the subject of an approvable letter from the FDA and future development plans for this product candidate are under consideration. The Company does not know at this time what impact, if any, the ongoing discussions with the FDA for IEED may have on the development of Zenvia for other indications. Additionally, Avanir has completed the patient recruitment in a Phase III clinical trial with Zenvia as a potential treatment for patients with painful diabetic neuropathy. Avanir has active collaborations with two international pharmaceutical companies: Novartis International Pharmaceutical Ltd. for the treatment of inflammatory disease and AstraZeneca for the treatment of cardiovascular disease. The Company's first commercialized product, abreva®, is marketed in North America by GlaxoSmithKline Consumer Healthcare and is the leading over-the-counter product for the treatment of cold sores. Further information about Avanir can be found at www.avanir.com.
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|Feb 01, 2007|