MediPharm Labs Corp. (OTCQX: MEDIF) (TSX: LABS) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce the appointment of Chris Halyk – former President of Janssen Inc. (Canada), one of the Janssen Pharmaceutical Companies of Johnson & Johnson – to its Board of Directors, effective immediately. This is the third appointment that the Company’s Board has made this year to prepare MediPharm Labs for its next stage of international growth and development.
Mr. Halyk has 35 years of pharmaceutical industry experience including 33 years with Johnson & Johnson. Among his many career highlights, he served as: Vice-President, Sales and Marketing and a member of the Janssen Management Board with responsibility for innovations in direct-to-consumer advertising, patient education and sales force automation; Managing Director of Ortho Biotech, the biopharmaceutical division of Janssen Inc.; and from 2006 until his retirement in 2019 as the President of Janssen Inc. (Canada) where under his leadership, the company became the largest pharmaceutical company in Canada. During his tenure, his accomplishments included, bringing innovative products, services and solutions to market along with new technologies and treatments in oncology, immunology, neuroscience, infectious diseases and vaccines, cardiovascular and metabolism and pulmonary hypertension.
“Chris brings a wealth of pharmaceutical industry experience, deep leadership expertise and extensive connections to our Board earned while serving the largest and most diversified healthcare company in the world,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “His qualifications are very pertinent to MediPharm Labs as we advance our standing in the worldwide market for pharmaceutical-quality medical cannabis. We have set very high standards for membership on our Board and I am delighted that Chris has chosen to join us.”
Mr. Halyk’s appointment, which follows an extensive search process, reflects the objective of ensuring that the Board of Directors and its committees are comprised of professionals having the knowledge, experience, skills, expertise, and diversity of perspective necessary for effective governance of the Company.
“I am very impressed by MediPharm Labs evolution from start up to emerging medical cannabis industry leader and its commitment to GMP-grade pharmaceutical practices in all of its operations,” said Mr. Halyk. “I am also impressed with the evolution of its Board and leadership team. From my perspective, this is a company that is putting all the right pieces in place for long term, global success and I look forward to participating actively in its development.”
Mr. Halyk holds an Honours Business Administration degree from Ivey Business School at Western University. He served as the Chair of the Board of Directors for Rx&D, the industry association for Canada’s Research-Based Pharmaceutical Companies (now named Innovative Medicines Canada) from 2012 until 2013. Before joining Johnson & Johnson, Mr. Halyk worked for pharmaceutical company Warner-Lambert in Toronto.
With Mr. Halyk’s appointment, MediPharm Labs’ Board of Directors will consist of nine members, six of whom are independent.
In connection with his appointment, the Company granted 300,000 options to Mr. Halyk at an exercise price set at the close of business on July 31, 2020. Each grant has a five-year term expiring July 31, 2025.
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard built clean rooms. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision -dosed cannabis products for its customers. Through its wholesale and white label platforms, they formulate, consumer-test, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian Extraction facility. MediPharm Labs Australia was established in 2017.