UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 7, 2022, the Board of Directors of Lantheus Holdings, Inc. (the “Company”) appointed Paul Blanchfield as the Chief Operating Officer of the Company and its subsidiaries, effective June 15, 2022.
Mr. Blanchfield, 42, had previously served as the Company’s Chief Commercial Officer, a position he held since January 2020. Prior to joining the Company, Mr. Blanchfield served as the Head of the U.S. Immunology Business Unit at Takeda Pharmaceutical Co., managing a multi-billion dollar P&L covering multiple rare diseases products. Prior to his time at Takeda, Mr. Blanchfield served in several different roles at Shire Plc across almost 6 years, including as the Head of U.S. Immunology, General Manager of Nordic-Baltics, Head of Corporate Strategy, and Chief of Staff to the CEO. In his time at Shire, Mr. Blanchfield launched multiple products, worked across nine different countries, oversaw a restructuring to increase commercial focus and reduce costs, and led efforts in M&A, corporate defense, integration, and long-term corporate and portfolio strategy. Prior to his time at Shire, Mr. Blanchfield worked at McKinsey & Company for 5 years, where he focused on health care, marketing, and sales. Mr. Blanchfield earned a Master’s of Business Administration and Master of Arts in Education from Stanford University and an AB in Economics from Duke University.
In connection with Mr. Blanchfield’s appointment as Chief Operating Officer, his annual base salary will be increased to $508,000 and his target annual bonus will be increased to 60% of his annual base salary. Following commencement of his new position, Mr. Blanchfield will also be granted equity incentive awards valued at $453,750 in the aggregate (based on the closing price of a share of the Company’s common stock on July 15, 2022). The equity incentive awards will be comprised of 50% of the aggregate value of the equity incentive award granted in the form of restricted stock units with vesting in three equal annual installments over three years and 50% of the aggregate value of the equity incentive award granted in the form of stock options, with the number of underlying shares determined in reference to the Black-Scholes value of the stock options on July 15, 2022, and with vesting in three equal annual installments over three years.
There are no arrangements or understandings between Mr. Blanchfield and any other persons pursuant to which he was appointed as principal operating officer, there are no family relationships among any of the Company’s directors or executive officers, and Mr. Blanchfield has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
A copy of the Company’s press release, dated June 15, 2022, announcing the appointment of Mr. Blanchfield as Chief Operating Officer is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Press release of Lantheus dated June 15, 2022, announcing the appointment of Paul Blanchfield as Chief Operating Officer. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LANTHEUS HOLDINGS, INC. | ||
| By: | /S/ Daniel M. Niedzwiecki | |
| Name: |
Daniel M. Niedzwiecki | |
| Title: |
Senior Vice President, General Counsel and Corporate Secretary | |
Date: June 15, 2022
Exhibit 99.1
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331 Treble Cove Road North Billerica, MA 01862 |
800.362.2668 www.lantheus.com |
Lantheus Announces Promotion of Paul Blanchfield to Chief Operating Officer
Dottie Barr Promoted to Senior Vice President, Manufacturing and Technical Operations
NORTH BILLERICA, MA, June 15, 2022—Lantheus Holdings, Inc. (“the Company”) (NASDAQ: LNTH), today announced two key management promotions. Paul Blanchfield has been promoted to Chief Operating Officer (COO) and will continue to report to Mary Anne Heino, President and CEO. In addition, Dottie Barr has been promoted to Senior Vice President, Manufacturing and Technical Operations (SVP, Mfg & Tech Ops) and will report to Paul Blanchfield. Both promotions are effective immediately.
“We are confident that elevating Paul and Dottie to these roles will maximize their talents and enable us to continue to execute on our strategic purpose to Find, Fight, and Follow disease to deliver better patient outcomes,” commented Mary Anne Heino, Lantheus President and CEO. “With their expertise in commercial excellence and complex manufacturing and supply chains, both Paul and Dottie have been instrumental in the stellar performance of our business to date. They have consistently demonstrated exemplary leadership and results-driven and long-term strategic thinking, while always putting patients first.”
Mr. Blanchfield joined Lantheus as Chief Commercial Officer in January 2020. Together with his team, he successfully launched the Company’s PSMA PET imaging agent for prostate cancer; continued to grow the Company’s microbubble franchise; and led the commercial team through the changing COVID-19 environment. In his new role, Mr. Blanchfield will have responsibility for Commercial, Manufacturing and Technical Operations, Quality, and Corporate Communications. Prior to Lantheus, he worked at Takeda Pharmaceutical Co. where he served as the Head of the U.S. Immunology Business Unit and managed a multi-billion-dollar P&L covering multiple rare disease products. Prior to Takeda, Mr. Blanchfield worked at Shire Plc for almost six years across several different roles, including as the Head of U.S. Immunology, General Manager of Nordic-Baltics, Head of Corporate Strategy, and Chief of Staff to the CEO. Mr. Blanchfield started his career at McKinsey & Company, where he focused on health care, marketing, and sales. He earned an MBA/MA in Education from Stanford University and an AB in Economics from Duke University.
Ms. Barr joined Lantheus more than five years ago to lead Lantheus’ Manufacturing and Supply Chain. Under her leadership, the Company completed the commissioning of GENESIS, a state-of-the-art manufacturing facility; integrated and improved the manufacturing process and facility in Somerset, NJ; built out the supply chain for the Company’s PSMA PET imaging agent; and navigated through on-site challenges associated with the global pandemic. In her new role, Ms. Barr will have responsibility for Manufacturing and Supply Chain, Employee Health and Safety, Engineering and Facilities, and Manufacturing Technology and Development. Ms. Barr came to Lantheus from T2 Biosystems where she was Vice President, Supply Chain, Materials and Logistics. Prior to her role at T2, she was with
Haemonetics for 22 years where she held roles of increasing responsibilities, including VP, Global Planning and Logistics. Ms. Barr earned an MBA from Babson F.W. Olin Graduate School of Business and holds a BS in Economics from Framingham State University.
About Lantheus
With more than 60 years of experience in delivering life-changing science, Lantheus is committed to improving patient outcomes through diagnostics, radiotherapeutics and artificial intelligence solutions that enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes. Lantheus is headquartered in Massachusetts and has offices in New Jersey, Canada and Sweden. For more information, visit www.lantheus.com.
Safe Harbor for Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by their use of terms such as “continue,” “execute,” “will” and other similar terms. Such forward-looking statements are based upon current plans, estimates and expectations that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements are discussed in our filings with the Securities and Exchange Commission (including those described in the Risk Factors section in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q).
Contacts:
Mark Kinarney
Senior Director, Investor Relations
978-671-8842
ir@lantheus.com
Melissa Downs
Senior Director, Corporate Communications
646-975-2533
media@lantheus.com