MCP Announces Chief Executive Officer Succession
MCP Pharmaceuticals Announces Chief Executive Officer Succession
PARSIPPANY, NJ June 24, 2011 — MCP Pharmaceuticals (“MCP”) announced today that Stuart Hinchen would succeed Peter Jenkins as Chief Executive Officer of the company effective July 1, 2011. Stuart Hinchen has acted as MCP’s President and Chief Operating Officer since the formation of the company in 2007.
Peter Jenkins commented: “Over the past four years we have established MCP 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 twelve months, we have established a rapidly growing pipeline of generic injectable products using both out-sourced 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.”
Stuart Hinchen commented: “MCP has a wonderful opportunity over the coming years to actively redefine the generic injectable competitive landscape in the USA. Peter remains a valued architect of our business development efforts and how we progress the company through future growth.”
About MCP Pharmaceuticals, LLC
MCP, headquartered in New Jersey, is a specialty pharmaceutical company which develops, manufactures and sells pharmaceutical products, primarily aseptic injectable products into the hospital segment, and provides contract manufacturing of sterile products for pharmaceutical companies.
MCP is a private company wholly owned by MCP Holdings, LLC whose equity owners are Morgan Stanley Principal Investments, Peter Jenkins and Stuart Hinchen.
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