Jonah Shacknai, Founder, Chairman and CEO of Medicis, Renews Employment Agreement
SCOTTSDALE, Ariz.--Feb. 22, 2001--Medicis Pharmaceutical Corporation (NYSE:MRX) today announced that its Chairman and Chief Executive Officer, Jonah Shacknai, has signed a five-year extension to his employment agreement. Shacknai will continue as Chairman and CEO, a position he has held since founding the Company in 1988. There have been no material changes to Shacknai's former employment agreement.
Shacknai has an extremely well diversified corporate and public service background. Prior to founding Medicis, Shacknai was a senior partner in the law firm of Royer, Shacknai and Mehle from 1982 to 1988 representing over 30 multinational pharmaceutical and medical device concerns, as well as four major industry trade associations. He also served in an executive position with Key Pharmaceuticals, Inc., before its acquisition by Schering Plough Corporation. From 1977 until late 1982, he served as chief aide to the House of Representatives' committee with responsibility for health policy, and in other senior legislative positions. During his service with the House of Representatives, Shacknai drafted significant legislation affecting health care, environmental protection, science policy and consumer protection. He was also a member of the Commission on the Federal Drug Approval Process and the National Council on Drugs.
Shacknai was recently selected to serve on the Listed Company Advisory Committee (LCAC) to the New York Stock Exchange. The LCAC was created in 1976 by the NYSE board to address issues that are of critical importance to the Exchange and the corporate community. Shacknai is one of 25 senior executive members currently serving on the committee.
In January 2000, Shacknai was selected as an Entrepreneurial Fellow at the Karl Eller Center of the University of Arizona. He is also a director of the Southwest Autism Research Center and is vice chairman of the Foothills Foundation, a non-profit organization that conducts programs for special needs children and adults. Additionally, Shacknai is a member of the Board of Trustees of the National Public Radio Foundation.
In 1997, he received the Arizona Entrepreneur of the Year award, and was one of three national finalists for that award. Shacknai has served as a member of the National Arthritis and Musculoskeletal and Skin Diseases Advisory Council of the National Institutes of Health, and currently serves on the U.S.-Israel Science and Technology Commission, both of which are federal cabinet-appointed positions. Shacknai obtained a B.S. degree from Colgate University and a J.D. from Georgetown University Law Center.
"I am pleased to announce my continued commitment to Medicis and the commencement of my next five years with the Company," said Jonah Shacknai, Chairman and CEO of Medicis. "This newly signed agreement, along with the recently announced restructuring, will allow me to focus my leadership and guidance efforts on the growth of our market-leading brands, as well as the formulation of new products from our research and development pipeline. I and the employees of Medicis remain committed to enhancing our position as one of the nation's leading dermatology concerns."
Medicis is the leading independent pharmaceutical company in the United States focusing primarily on the treatment of dermatological conditions. Medicis develops and markets leading products for major segments within dermatology including acne, fungal infections, psoriasis, eczema, rosacea, seborrheic dermatitis, head lice and cosmesis (improvement in the texture and appearance of skin). Primary products include the prescription brands DYNACIN(R) (minocycline HCl), TRIAZ(R) (benzoyl peroxide), LUSTRA(R) (hydroquinone), LOPROX(R) (ciclopirox), OVIDE(R) (malathion), PLEXION(TM) (sodium sulfacetamide/sulfur), LIDEX(R) (fluocinonide), SYNALAR(R) (fluocinolone acetonide), TOPICORT(R) (desoximetasone), NOVACET(R) (sodium sulfacetamide/sulfur) and A/T/S(R) (erythromycin); the over-the-counter brand ESOTERICA(R); and BUPHENYL(TM) (sodium phenylbutyrate), a prescription product indicated in the treatment of Urea Cycle Disorder.
Except for historical information, this news release contains certain forward-looking statements that involve risks and uncertainties which may cause actual results to differ materially from the statements made, including the Company's dependence on sales of key products, uncertainty of future financial results and fluctuations in operating results, dependence on the Company's acquisition strategy, new product introductions and other risks described from time to time in the Company's SEC filings. These forward-looking statements represent the judgment of the Company, as of the date of this release, and Medicis disclaims any intent or obligation to update these forward-looking statements.
NOTE: Full prescribing information for any Medicis prescription product is available by contacting the Company.
NOTE TO EDITORS: A photo of Jonah Shacknai, Chairman and CEO of Medicis is available by contacting the Investor Relations & Corporate Communications Department of the Company.
Contacts: Medicis Pharmaceutical Corporation, Scottsdale Libby Ivy, 602/808-3854 www.medicis.com