PDI CONTACT: INVESTOR
CONTACTS:
Jeffrey
E. Smith
Lippert/Heilshorn & Associates, Inc.
Chief
Financial Officer Kim
Sutton Golodetz (kgolodetz@lhai.com)
(201)
258-8451
(212) 838-3777
jesmith@pdi-inc.com Bruce
Voss (bvoss@lhai.com)
www.pdi-inc.com
(310) 691-7100
PDI
Names Veronica A. Lubatkin to Board of Directors
SADDLE RIVER, N.J. (November 19,
2008) – PDI, Inc. (NASDAQ: PDII), a pioneer in providing contract sales
and commercial services to the biopharmaceutical industry, today announced the
appointment of Veronica Lubatkin, CPA, 45, to the Company’s board of directors,
effective November 18, 2008. Ms. Lubatkin’s appointment expands the number of
board members to 11.
Ms.
Lubatkin is Executive Vice President and Chief Financial Officer of Par
Pharmaceutical Companies, Inc. and earlier served as Vice President,
Controller. Prior to this, she was Executive Director, Strategic
Partnerships of Schering-Plough Corporation, responsible for the worldwide
controllership and alliance management activities of the Merck Schering-Plough
Cholesterol Joint Venture. During this time, Ms. Lubatkin worked closely with
senior management as well as sales, marketing and finance teams around the globe
on the launches of Vytorin and Zetia.
“We are
delighted that Veronica has chosen to serve on our board of directors,”
commented John P. Dugan, PDI’s chairman. “Her financial expertise and
experience garnered in the finance organizations of top pharmaceutical
companies will be invaluable as we reestablish our leadership in contract
sales and support services to this industry.”
Prior to
joining Schering-Plough, Ms. Lubatkin was Finance Director for Neuman
Distributors, Inc., formerly a $3 billion U.S. pharmaceutical wholesaler
responsible for integration and due diligence processes. She began her career
with Arthur Anderson in 1985.
Ms.
Lubatkin earned a B.A. degree in Accounting from Pace University in 1985
and is a Certified Public Account.
About
PDI
PDI
provides commercialization services for established and emerging
biopharmaceutical companies. The Company is dedicated to maximizing the return
on investment for its clients by providing strategic flexibility, sales,
marketing and commercialization expertise.
PDI
currently operates in three business segments: Sales Services, Marketing
Services and Product Commercialization. Our sales services include
Performance Sales Teams™, which are
dedicated
pharmaceutical sales force teams for specific customers; Select Access™, our
targeted sales solution that leverages an existing sales force and
infrastructure; and PDI ON DEMAND, a suite of innovative sales services that
provide rapid, customized sales force solutions tailored to meet the local,
regional and seasonal needs of our customers. Our marketing services
include marketing research and consulting services through TVG, and medical
communications services through Pharmakon. In addition, PDI is a
high-quality provider of continuing medical education programs through Vital
Issues in Medicine (VIM®). Our product commercialization solutions
leverage our considerable sales and marketing expertise to manage products
throughout their lifecycles, enabling us to maximize profitable brand
growth. PDI's experience extends across multiple therapeutic
categories and includes office- and hospital-based initiatives.
For more
information, please visit the Company’s website at www.pdi-inc.com.
Forward-Looking
Statements
This
press release contains forward-looking statements regarding future events and
financial performance. These statements are based on current expectations and
assumptions involving judgments about, among other things, future economic,
competitive and market conditions and future business decisions, all of which
are difficult or impossible to predict accurately and many of which are beyond
PDI’s control. These statements also involve known and unknown risks,
uncertainties and other factors that may cause PDI’s actual results to be
materially different from those expressed or implied by any forward-looking
statement. Such factors include, but are not limited to: changes in
outsourcing trends or a reduction in promotional, marketing and sales
expenditures in the pharmaceutical, biotechnology and life sciences industries;
the loss of one or more significant clients or a material reduction in service
revenues from such clients; the ability to fund and successfully implement PDI’s
long-term strategic plan; the ability to successfully develop product
commercialization opportunities; PDI’s ability to generate sufficient revenue
from product commercialization opportunities that PDI pursues to offset the
costs and expenses associated with implementing and maintaining these types of
programs; the ability to successfully identify, complete and integrate any
future acquisitions and the effects of any such acquisitions on PDI’s ongoing
business; the ability to meet performance goals in incentive-based and revenue
sharing arrangements with clients; competition in PDI’s industry; the ability to
attract and retain qualified sales representatives and other key employees and
management personnel; product liability claims against PDI; changes in laws and
healthcare regulations applicable to PDI’s industry or PDI’s, or its clients’,
failure to comply with such laws and regulations; volatility of PDI’s stock
price and fluctuations in its quarterly revenues and earnings; potential
liabilities associated with insurance claims; failure of, or significant
interruption to, the operation of its information technology and communications
systems; and the risk factors detailed from time to time in PDI's periodic
filings with the Securities and Exchange Commission, including without
limitation, PDI's Annual Report on Form 10-K for the year ended December 31,
2007, and PDI's subsequently filed quarterly reports on Form 10-Q and current
reports on Form 8-K. Because of these and other risks, uncertainties and
assumptions, undue reliance should not be placed on these forward-looking
statements. In addition, these statements speak only as of the date of this
press release and, except as may be required by law, PDI undertakes no
obligation to revise or update publicly any forward-looking statements for any
reason.