Pacira BioSciences Inc said on Thursday that Frank Lee had been appointed as its next Chief Executive Officer and a member of the Board, effective January 2nd 2024.
The company had announced in September that David Stack would step down from his roles as Chief Executive Officer and Chairman of the Board, effective January 1st 2024.
Stack is expected to remain with Pacira BioSciences through August 2025 as an advisor.
Most recently, Frank Lee was Chief Executive Officer and member of the Board of Directors of Forma Therapeutics – from March 2019 through its acquisition by Novo Nordisk in October 2022.
Before that, Lee served as Senior Vice President, Global Product Strategy and Therapeutic Area Head for Immunology, Ophthalmology and Infectious Diseases at Genentech, a member of the Roche Group.
And, previously, he spent almost 13 years at Novartis, Janssen and Eli Lilly in engineering, manufacturing, marketing and business development.
“Following a comprehensive executive search process, we are delighted to welcome Frank as our new CEO and are confident he is the ideal leader for our next phase of growth and value creation,” Paul Hastings, Chair elect of Pacira BioSciences Inc, said in a press release.
“Frank is a proven leader who has distinguished himself over the course of his career as a disciplined executive with a focus on revenue growth and cost management, having built successful patient-focused organizations driving product growth to blockbuster and multi-blockbuster status across a wide range of therapeutics areas and treatment settings. He has a proven ability to forge partnerships with key stakeholders and to deliver creative solutions that provide value and improve patients’ lives. We believe he has the relevant skills and experience to continue the execution of our strategy to maximize shareholder return and unlock the significant untapped potential within our best-in-class opioid-sparing commercial portfolio,” Hastings added.
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