Stuart Hinchen will succeed Peter Jenkins as chief executive officer of JHP Pharmaceuticals effective July 1, 2011. Mr. Hinchen has acted as JHP's president and chief operating officer since the formation of the company in 2007.
Mr. Jenkins commented, "Over the past four years we have established JHP on a secure financial and operational basis with growing revenues and strong profitability as well as put in place an assured platform for growth in both our marketed products and contract manufacturing business. In particular, over the past 12 months, we have established a rapidly growing pipeline of generic injectable products using both outsourced development resources and an internal development group based at our Michigan manufacturing facility. The secure position the business is in provides me with the opportunity to step back from day-to-day activities knowing that the full-time leadership of the business is in excellent hands. I will remain fully invested and also involved as a consultant with the business through supporting Stuart with the development activities."
Mr. Hinchen remarked, "JHP has a wonderful opportunity over the coming years to actively redefine the generic injectable competitive landscape in the U.S. Peter remains a valued architect of our business development efforts and how we progress the company through future growth."