TargetRx Announces Management Transition
Craig Scott Assumes Chief Executive Officer Position
Horsham, PA - January 28, 2008 - TargetRx Inc. today announced that Craig H. Scott has been appointed to the role of president and chief executive officer, and he will join the board of directors, effective immediately. Scott assumes the role from Michael J. Luby, company founder who will remain a full-time employee of the company and a member of the board of directors.
"We are pleased to have established TargetRx as the only company to enhance pharmaceutical sales force and marketing effectiveness by helping clients to measure, manage and improve performance against the key drivers of physician prescribing behavior. I am confident Craig's proven leadership abilities will propel the company into its next phase of growth," said Luby. "I believe his wealth of experience in the pharmaceutical services industry, combined with his energy and vision, will be great assets to the future success of TargetRx."
Scott joins TargetRx with a broad range of pharmaceutical marketing, sales and general management experience on both the client and service sides, and in both Fortune 100 and entrepreneurial start-up organizations. Prior to joining TargetRx, he was president of the Catalina Health Resource division of Catalina Marketing Corporation from 2004 until the leveraged buyout of the company in November 2007. During his tenure, he dramatically increased revenues and profits and led the transformation of Catalina Health Resource into the leading provider of direct-to-patient communication services in pharmacies nationwide.
Scott joined Catalina after nine years with Nelson Communications, where he established several new healthcare marketing ventures, leading them from concept to implementation and commercial success. Prior to his work at Nelson Communications, Scott spent 13 years with Johnson & Johnson, where he held a variety of marketing and management positions. Most notably at J&J, Scott served as vice president of marketing as well as a management board member for Vistakon, the J&J affiliate that launched ACUVUEŭ, the first disposable and best-selling contact lens in the world.
"I am enthused by TargetRx's proprietary predictive modeling database," said Scott. "With a comprehensive understanding of physician attitudes about products, promotion, payors and patients, we can offer pharmaceutical companies robust information that will fundamentally improve the effectiveness of their sales and marketing efforts. At this critical time for the industry, TargetRx will continue to provide clients with superior tools that will enable them to increase market share and improve the bottom line."
Scott received his bachelor's degree in semiotics from Brown University and his master's degree in business administration from The Wharton School of Business at the University of Pennsylvania. He currently resides in Doylestown, Pennsylvania with his wife and their two children.
About TargetRx
TargetRx provides pharmaceutical and biotech companies with unique insight into the true drivers of product choice and adoption for their brands, helping clients to confidently take the actions that will grow their businesses and help patients. Serving the majority of the top 30 pharmaceutical and biotech companies, TargetRx enables clients to significantly improve the launch of new products and indications, physician segmentation and targeting, creation of professional messaging and materials, and sales and marketing execution and effectiveness. All TargetRx solutions are powered by our AdvantageBuilderSM normative database and validated predictive models, created from capturing in-depth physician attitudes on the "four forces" of prescribing - product, payor, promotion and patient - on new launches, marketing campaigns and physician-rep interactions on over 500 pipeline and inline brands and modeling these attitudes against actual prescribing behavior. For more information, visit www.targetrx.com.
Media Contact:
Joe FordPhone: 215-444-8722
jford@targetrx.com