IGI Laboratories, Inc. Announces Michael B. Hemric Appointed to Its Board of Directors
BUENA, N.J.--(Business Wire)-- IGI Laboratories, Inc.(NYSE AMEX:IG), a premier provider of topical formulation development, analytical, manufacturing and packaging services today announced that Michael B. Hemric has been appointed to the company's board of directors. Mr. Hemric will take the place of Mr. Steven J. Morris who resigned from the company`s board of directors effective July 1, 2009. "We are very pleased to have Mike join our board of directors. Mike is a successful executive with extensive knowledge of the generic and branded pharmaceutical market. As we advance our over the counter and prescription product development portfolio and broaden our presence within the specialty pharmaceutical sector, his considerable strategic planning and commercial development experience will be invaluable to IGI. In addition, the Board sincerely thanks Steven for his support and strong contribution to IGI over his tenure as a board member," said Ms. Joyce Erony, Chairperson of IGI Laboratories, Inc. Mr. Hemric, has over 30 years of experience in the consumer healthcare industry. From February 1981 until his retirement in February 2008, he held various senior management positions at Alcon Laboratories including General Manager of Alcon`s Consumer Product and Pharmaceutical divisions and most recently as President of its Far East division. Mr. Hemric received a B.A. from Wake Forest University and is a graduate of the Harvard Program for Management Development. About IGI Laboratories, Inc. IGI Laboratories, Inc. engages in the development, manufacturing, filling, and packaging of topical, semi solid, and liquid products for pharmaceutical and cosmeceutical companies. The Company offers the patented Novasome encapsulation technology which contributes value-added qualities to pharmaceutical and cosmeceutical products, providing improved dermal absorption and sustained release of the active molecule. IGI Laboratories, Inc. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions, and other statements contained in this press release that are not historical facts and statements identified by words such as "will," "possible," "one time," "provides an opportunity," "continue" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in IGI Laboratories, Inc.`s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors or IGI Laboratories, Inc.`s ability to implement business strategies. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. IGI Laboratories, Inc. Philip S. Forte, 856-697-1441 ext. 363 www.askigi.com Copyright Business Wire 2009
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