New helmsman at Cambrex
small-molecule and biological active pharmaceutical ingredient
(API) activities into a single business unit.
Active pharmaceutical ingredient (API) specialist Cambrex has appointed a new president and chief executive charged with improving sales and profit growth at the firm.
Gary Mossman will have the immediate taks of overseeing an integration of Cambrex' activities in small-molecule and biological APIs into asingle business unit. This represents a continuation of the company's ongoing restructuring process, and just last week, it completed the sale of its Rutherford Chemicals subsidiary to investment group Arsenal Capital Partners.
Mossman joined Cambrex in March as the head of the company's pharmaceuticals unit, having previously been president of Dixie Chemicals, where he oversaw a concerted push into the pharmaceuticals sector.
The rationale behind bringing the pharmaceutical and biopharmaceutical business units together is a response to what the company said was an increasing tendency by customers to select API suppliers with broad product and service capabilities.
James Mack, Cambrex's chairman who is curently filling the president and CEO roles, said that one of Mossman's primary tasks will be to integrate sales, marketing and regulatory compliance across all the technology platforms at the company.
Meanwhile, Steven Klosk, Cambrex's executive vice president of administration, will take on the additional role of chief operating officer of the new business unit. Klosk and Peter van Hoorn, the president of Cambrex's biopharmaceuticals business, will both report to Mossman.
The sale of Rutherford was undertaken to allow Cambrex to exit from a number of poorly-performing sectors - including industrial coatings, plastics and telecommunications - and become more of a life science specialist. Cambrex posted a loss of more than $53 million on the deal.
