Orexigen Therapeutics, Inc. (NASDAQ:OREX) has announced some changes in its leadership positions.
The firm has promoted Thomas Cannell, D.V.M. as the Chief Operating Officer and Executive Vice President. Cannell has also been appointed as the president of the company’s global commercial products. Prior to his appointment, he held down the Chief Commercial Officer and Executive Vice President positions. Orexigen Therapeutics has also announced the promotion of Jason Keyes as the Chief Financial Officer and the Senior Vice President. Keyes occupied the Finance Vice President position prior to the recently announced appointment.
The pharmaceutical com company has also revealed that the new leadership changes will take full effect as of June 16 this year. The changes have been made so that the company can be in a good position to leverage more sales in its target market and also to take advantage of the growing number of partnerships. The firm recently announced an agreement US rights to a drug known as Contrave. This is part of preparations to commercialize the drug in the US before the end of the year.
The two newly appointed executives will be oversee various activities in the firm including sales for Contrave among other drugs in the US. They will also be accountable for global revenue and other major activities. Cannell began his journey at Orexigen in 2015 where he was appointed as the executive VP and CCO. Prior to that, he was employed at Merck & Co., Inc. (NYSE:MRK). Some of the divisions Cannell held at his former firm include management, sales operations and consumer marketing.
Keyes has been a finance and strategy executive for 15 years and therefore has a lot of value to bring to the firm. He joined Orexigen in 2013 where he took up the VP position for the finance division. He previously worked at Amylin Pharmaceuticals LLC (NASDAQ:AMLN) where he was the senior finance director. His portfolio extends to other high profile firms such as Amgen, Inc. NASDAQ:AMGN) and Baxter Healthcare Corporation.