Essential Pharma Appoints Steen Vangsgaard As Chief Executive Officer

EGHAM, England, May 10, 2021 /PRNewswire/ -- Essential Pharma, an international specialty pharma company focused on maintaining access to well-established, "at risk" products essential to patients across multiple therapeutic areas, announces the appointment of Steen Vangsgaard as Chief Executive Officer.

Steen has more than 20 years of experience in the specialty pharma and generics sector gained across a wide range of international commercial operations and companies.

He joins Essential Pharma from Covis Pharma, a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses, where he was Senior Vice President, General Manager Europe/Rest of world.

At Covis, Steen had P&L responsibility for key products in Europe and Rest of World and reported directly to the Covis CEO. In this role, Steen established a global commercial and distribution organisation that successfully integrated and commercialised acquired global product opportunities.

Prior to Covis Pharma, Steen spent a number of years at Mylan Pharmaceuticals, where as Vice President, Area Director, he managed the European integration of Abbott's generics division, that generated $1.8 billion of revenue across 38 markets in Europe, following its acquisition in 2015.

Before Mylan, Steen was Vice President, Commercial Operations Western Europe for Actavis, now part of Teva, were he managed all aspects of the business. Under his management the business saw significant growth in revenues and profits.

Steen has a degree in Sports Sciences from the University of Copenhagen and an MBA from London Business School.

Steen will work closely with Ingvild Liborg, who is moving to become Essential Pharma's Deputy CEO.

Patrick Vink, Chairman of Essential Pharma, said: "We are extremely pleased to attract someone of Steen's experience and calibre to lead Essential Pharma through the next phase of our high growth strategy. This ambitious plan is centred on acquiring new products to drive geographic expansion, and Steen's extensive international operational, business development and leadership experience will be crucial to our future success. I am confident that Steen will play a central role in growing the company and ensuring that we continue to deliver value for all our stakeholders as we look to supply essential medicines to more and more patients around the globe."

Steen Vansgaard added: "I am tremendously excited to be joining Essential Pharma as it embarks on an ambitious global plan to rapidly scale the Company, leveraging its proven business model centred on acquiring and growing the sales of "at risk" specialty medicines and thereby ensuring patient access to these essential medicines. With the support of Ingvild, and the rest of the senior management team and our key shareholders, I am very confident the Company is in a strong position to achieve its aims."

About Essential Pharma

Essential Pharma is an international specialty pharmaceutical company dedicated to maintaining access to well-established, "at risk" products essential to patients across multiple therapeutic areas. The company has been an important and valued partner to healthcare providers for over 20 years by giving patients access to medicines that otherwise would not be available.

Essential Pharma operates in over 20 countries, including in the UK, EU, Asia, and New Zealand, supplying a portfolio of over 150 essential medicines across multiple therapeutic areas.

Essential Pharma's products are manufactured to the highest regulatory standards at 8 sites in the EU and 2 sites in the USA.

Essential Pharma's growth strategy is based around identifying and acquiring at-risk products from larger pharmaceutical groups looking to streamline their product portfolios. As a result, it is always in dialogue with pharmaceutical companies to identify products that that it could continue to make available across an ever-increasing number of geographies.

Essential Pharma's growth strategy is backed by Gyrus Capital, an investment firm dedicated to transformational investments in sectors with long term sustainable growth, including healthcare.

For more information, please visit essentialpharmagroup.com

Contacts

Essential Pharma
Steen Vangsgaard, CEO
Tel: +44(0)1784 477 167
Email: info@essentialpharmaceuticals.com

Citigate Dewe Rogerson (for Essential Pharma)
David Dible, Frazer Hall, Nathaniel Dahan
Tel: +44 (0) 20 7638 9571
Email: Essentialpharma@citigatedewerogerson.com