IGI laboratories, Inc. (Amex: IG) today announced that Charles E. Moore has been appointed as President and Chief Executive Officer of IGI Laboratories, Inc., effective April 1, 2010, and replaces Hemanshu Pandya who has recently resigned as the President and Chief Executive Officer of the Company effective April 1, 2010. Mr. Moore has also been appointed to the IGI Board of Directors, effective April 1, 2010, and compliments the IGI Board with his generic experience.
Ms. Joyce Erony, Chairman of the Company, commented "On behalf of the Board of Directors, I would like to express my appreciation for the leadership provided by Hem during his tenure at IGI I would also like to take this opportunity to congratulate Charlie whose comprehensive experience in the topical market makes him the ideal leader to ensure IGI transitions to its generic topical future. I look forward to working closely with Charlie in his new role as President and CEO.” Mr. Pandya will stay on with IGI Laboratories, Inc for a period of time as an advisor to the Company.
Charles E. Moore is an experienced pharmaceutical executive with a successful track record in bringing over 50 generic topical products from development to approval. Prior to joining IGI, Mr. Moore was Vice President of Business Development for Infa Inc. where he was responsible for development of the North American business of the Infa Group, an Italian-based Active Pharmaceutical Ingredient (API) manufacturer.
Mr. Moore stated "I welcome the challenge of transitioning IGI into a successful Generic Topical Pharmaceutical Business.”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.