BioDelivery Sciences International, Inc. (BDSI - Free Report) announced a couple of changes in its management. While Timothy C. Tyson has been appointed to the company’s board of directors as an independent member, Dr. Mark A. Sirgo, the present President and Chief Executive Officer (CEO) and board member, will function as Vice Chairman, in addition to his present roles.
Effective immediately, these changes were made in an attempt to strengthen BioDelivery’s board-level leadership.
Tyson had previously served as Avara Pharmaceutical Service’s Chairman and CEO, Icagen Inc.’s Chairman and Aptuit LLC’s Chairman and CEO.
Tyson is expected to bring about dramatic transformations in the company’s structure with his 30 years of experience in the pharmaceuticals industry. He has successfully filled senior executive level leadership positions, handling key functional areas such as sales and marketing, manufacturing and supply, and research and development. These reflect his exposure to a broad variety of responsibilities.
Between 2002 and 2008, Tyson was appointed as the Chief Operating Officer, President, and CEO of Valeant Pharmaceuticals International (VRX - Free Report) . Prior to this appointment, he had been employed by GlaxoSmithKline (GSK - Free Report) for 14 years, where he was responsible for multiple divisions.
BioDelivery expects the addition of Tyson to its board to be beneficial for the company’s business. The company’s board of directors currently has 8 members, of which 6 are independent.
BioDelivery is a specialty pharmaceutical company focused on the development and commercialization of treatments for pain and addiction. The company utilizes its novel and proprietary BioErodible MucoAdhesive (BEMA) technology for the development of products.
The company’s portfolio currently comprises three approved products – Onsolis, Bunavail and Belbuca.
Zacks Rank & Key Picks
BioDelivery currently carries a Zacks Rank #3 (Hold). Another better-ranked stock in health care sector is ARIAD Pharmaceuticals Inc. (ARIA - Free Report) . The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ARIAD’s loss estimates narrowed from 25 cents to 8 cents for 2016, while that for 2017 narrowed from 64 cents to 48 cents during the last 60 days. The company has beaten earnings estimates twice in the last four quarters, bringing the average surprise to 153.4%. Its stock price has surged 116.7% year to date.
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