Synergy Pharmaceuticals Inc (NASDAQ:SGYP) reported that Troy Hamilton, Pharm.D., formerly EVP, Chief Commercial Officer, has been engaged as CEO, effective immediately. Dr. Gary S. Jacob, Ph.D. has assumed the role of Executive Chairman of company’s Board.
Commenting on the recent change, Dr. Jacob expressed that it has been an honor to be associated with the Synergy team from development and discovery of their uroguanylin-based GI platform to the marketing of their first product in 2017. Hamilton is a seasoned pioneer with broad experience managing commercial activities and bringing cross functional teams on same platform to achieve excellent results.
He knows all aspects of their corporate plan and what they must do so as to continue to record success moving forward. Hamilton was a natural choice for CEO role and the Board and he is confident that Hamilton is the right person to head the firm to its next phase of success and growth. With Hamilton as Chief Executive Office, supported by his tenured and excellent commercial leadership team, Synergy Pharmaceuticals is all set to maximize TRULANCE and build on all major market opportunities.
Commenting on his new role, Mr. Hamilton expressed that as co-founder of Synergy Pharmaceuticals and co-inventor of TRULANCE, Dr. Jacob has been instrumental in directing the firm to where it is today and they thank him for his continued commitment to the firm. He is thrilled to take up this new role and to continue working together with the dedicated and talented management team and staff at Synergy Pharmaceuticals, and grateful to company’s Board for this opportunity.
They consider the investments they have done, along with the execution of their commercial plan, have enabled them to drive early demand for TRULANCE in CIC and record expanded market access moving into 2018. They anticipate to capitalize on this momentum as they advance towards the PDUFA date for TRULANCE in IBS-C next month and look to support further growth.