PAR PHARMACEUTICAL, Woodcliff Lake, NJ1995 - 2006
$500 million manufacturer and distributor of generic and branded pharmaceutical products with 750 employees.Sales grew 400% to $430 million over a seven year period, peaking at $680 million in 2004.
Vice President and Chief Financial Officer (1996 - 2006)
Responsibility for financial reporting and analysis, budgeting, capital structure, treasury, risk management, accounting, SEC reporting, Sarbanes-Oxley compliance, and taxes. Participated in and presented information on financial matters to the Board of Directors. Principal liaison with the independent auditing firm.
·Raised $200 million in a convertible debt offering to institutional investors to provide funding for acquisitions and product licensing deals.
·Participated in road show for the $350 million private sale of minority shareholder’s 45% ownership position allowing the Company to regain board control.
·Directed financial due diligence for the $140 million acquisition of Kali Laboratories which expanded the product line and internal Research and Development (R&D) capabilities.
·Coordinated the financial aspects of a $20 million equity investment and product distribution deal with Merck KGaA enabling the Company to acquire products and provide funding for R&D projects.
·Negotiated an asset based lending facility of $20 million with GE Capital to fund working capital needs.
·Collaborated with Business Development to cement financial terms and conditions contained in product licensing deals.
·Shared the investor relations function, participating in investment healthcare conferences and earnings conference calls.
·Established agendas and prepared materials with the Chairman of the Audit Committee for meetings.Principal management representative on the Audit Committee.