By Business Wire, March 04, 2013, 08:00:00 AM EDT
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Pharmaceuticals, Inc. (NASDAQ:IRWD) today announced the appointment
of Edward Owens to its board of directors. Mr. Owens is a recently
retired partner, portfolio manager and global industry analyst with
Wellington Management Company, LLP.
Edward Owens, Ironwood Board of Directors (Photo: Business Wire)
"Ed has gained a unique perspective on how to optimally allocate
capital, create value for shareholders and build and run successful
businesses based on nearly four decades of outstanding performance
investing in healthcare companies," said Peter Hecht, chief executive
officer of Ironwood. "He has deeply probed the strategy, growth,
successes and challenges of nearly every company in the healthcare space
during his investing career, and we are thrilled to have the opportunity
to tap into his insights, business savvy and ownership focus."
"I've closely followed Ironwood for eight years and have been a
shareholder since their IPO in 2010. During that time, I have had the
opportunity to gain a deep appreciation for Ironwood's business acumen
and long-term vision," said Mr. Owens. "I have been very impressed with
the competence, entrepreneurial spirit and high ethical standards of the
management team. After decades of observing companies from the outside,
I am excited to be part of what I hope and expect will be one of the
next great growth companies in biotech. The execution of a successful
launch of LINZESS™ (linaclotide) should provide our team with the
resources to build an exceptional business, focused on improving human
health and advancing patient care."
Mr. Owens started at Wellington in 1974 and served as portfolio manager
for the Vanguard Health Care Fund from its inception in May 1984 until
his retirement in December 2012. During his tenure, the Vanguard Health
Care Fund was the best performing mutual fund among all mutual funds.
Consistently outperforming the Lipper Global Health/Biotech Funds
Average and the S&P 500 Index, it grew to be by far the largest mutual
fund in the global health/biotech category. Mr. Owens has a B.S. in
Physics from the University of Virginia and an M.B.A. from Harvard
Business School. He has been recognized numerous times for his
investment performance and has been chosen twice as a finalist for
Morningstar's Fund Manager of the Year.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals (NASDAQ:IRWD) is an entrepreneurial
pharmaceutical company dedicated to the art and science of great
drugmaking. Ironwood is located in Cambridge, Mass. To learn more, visit www.ironwoodpharma.com.
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Source: Ironwood Pharmaceuticals, Inc.