Vernalis hires AstraZeneca marketeer to lead Tuzistra operation in US

Vernalis has appointed 24-year AstraZeneca veteran Sandford 'Sandy' Sommer as president and chief operating officer of its US operation, Vernalis Therapeutics.

Sommer most recent role was as president of AstraZeneca's Colombia operations, following a variety of leadership roles, including global vice president of CNS, Infection and Flu Vaccines.

Vernalis, which began building its US operation after the approval of Tuzistra for prescription cough-cold market, said Sommer had extensive experience building brands and had been instrumental in the success of some of the most successful brands in pharmaceutical history including as executive director Seroquel as well as working on Nexium and Symbicort.

Chief Executive Ian Garland said the appointment was coming at an exciting time as the company built its US commercial operations.

"Sandy's depth of experience in sales and marketing, as well as in general management, make him ideally qualified to lead our US operations through this critical period of multiple product launches and rapid growth."

After the approval of Tuzistra XR on a year ago, the London-listed company established a field-based sales and began promotion in September.

March's interim results sent shares in the biotech company to an 11-month low as the Tuzistra launch sent it into the red during what proved a very mild flu season in the USA.

Through to 29 February 2016, there were 4,571 Tuzistra XR prescriptions, with analysts differing on whether this was disappointing or encouraging.

House broker Shore Capital forecasts the spending associated with the Tuzistra launch and building out of the US sales infrastructure, will see a further step-up in 2018/19 to support new product launches, but that current cash will be sufficient to take Vernalis through to profitability based on Tuzistra sales of £19m and £40m in the next two full years.