Idorsia announces a change to commercial leadership

Ad hoc announcement pursuant to Art. 53 LR

  • Simon Jose to step down from his position as Chief Commercial Officer and member of the Idorsia Executive Committee to pursue other opportunities
  • Otto Schwarz will advise the management team on commercial operations

Allschwil, Switzerland – May 30, 2023
Idorsia Ltd (SIX: IDIA) today announced that Simon Jose will leave his position as Chief Commercial Officer and member of the Idorsia Executive Committee to pursue other opportunities. Otto Schwarz has agreed to advise the management team on commercial operations from July 1, 2023.

Jean-Paul Clozel, MD and Chief Executive Officer of Idorsia commented:
“Simon has made a significant contribution to Idorsia, establishing our commercial organization from scratch, while preparing two products for launch in different geographies. He leaves a solid foundation for the Idorsia team to build on, and I wish him every success with his future.”

Jean-Paul Clozel continued:
“The task ahead of us is to translate the excellent prescriber and patient feedback, as well as the solid demand for QUVIVIQ into a global commercial success and bring the company to sustainable profitability. Having worked with Otto Schwarz at Actelion and as a consultant for commercialization of daridorexant in the early days of Idorsia, I have absolute confidence that he is the right person to provide a fresh perspective and help the management team steer our commercialization efforts.”

About Otto Schwarz
Otto is a highly accomplished industry executive with more than 35 years of experience. He has launched multiple major specialty products on a global basis. Most recently, Otto served as Executive Vice President, Chief Operating Officer and a member of the Actelion Executive Committee, until the acquisition of Actelion by Johnson & Johnson.

Prior to Actelion, Otto also served as Executive Vice-President Commercial Operations at Nycomed, and Executive Board Member at Altana Pharma. He also spent almost 20 years with Schering-Plough and Eli Lilly in Switzerland, Canada, the US and Germany.

Otto Schwarz is an Austrian citizen and has a PhD in pharmaceutical chemistry from Vienna University.

Notes to the editor

About Idorsia
Idorsia Ltd is reaching out for more – We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.

Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is specialized in the discovery, development and commercialization of small molecules to transform the horizon of therapeutic options. Idorsia has a 20-year heritage of drug discovery, a broad portfolio of innovative drugs in the pipeline, an experienced team of professionals covering all disciplines from bench to bedside, and commercial operations in Europe, Japan, and the US – the ideal constellation for bringing innovative medicines to patients.

Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 1,300 highly qualified specialists dedicated to realizing our ambitious targets.

For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10

The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.