Harmony Biosciences names new chief commercial officer

PLYMOUTH MEETING, Pa. - Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY), a pharmaceutical company with a market capitalization of $2.02 billion and an impressive gross profit margin of 78%, announced the appointment of Adam Zaeske as its new Executive Vice President and Chief Commercial Officer, effective March 31, 2025. Zaeske will succeed Jeffrey Dierks, who is stepping down for personal reasons.

With 25 years of experience in the pharmaceutical industry, Zaeske has held leadership roles in various regions, including the U.S. and Europe. His expertise covers a range of functions from commercial strategy and operations to sales and finance. At Harmony Biosciences, his responsibilities will include leading the commercial organization, driving market expansion, and overseeing the execution across all brands.

Zaeske’s appointment comes at a time when the company is focusing on the growth of its narcolepsy drug WAKIX® (pitolisant) and advancing its late-stage pipeline assets toward approvals in the U.S. and other territories. According to InvestingPro data, the company has demonstrated strong commercial execution with revenue growth of 22.8% over the last twelve months. Harmony’s CEO, Jeffrey M. Dayno, M.D., expressed confidence in Zaeske’s ability to lead the commercial team and drive growth, citing his deep commercial expertise and successful track record.

Previously, Zaeske served as Head of Central, South, and Eastern Europe at Takeda Pharmaceuticals, managing a business across 25 countries. His leadership contributed to significant revenue growth for Takeda’s European and Canadian operations. Zaeske holds an MBA from Harvard Business School and a Bachelor’s degree in Business Administration and Finance from the University of Michigan.

Zaeske expressed enthusiasm about joining Harmony Biosciences and the opportunity to expand upon the success of WAKIX, as well as bringing late-stage products to commercialization. His prior experience in rare diseases and neurology aligns with Harmony’s focus on addressing unmet medical needs in rare neurological diseases.

The company remains confident in its 2025 revenue guidance and views WAKIX as a significant opportunity in adult narcolepsy. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with a P/E ratio of 13.8 and strong financial health metrics. For deeper insights into Harmony Biosciences’ financial health and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. Harmony Biosciences is dedicated to developing therapies for patients with rare neurological diseases and was established by Paragon Biosciences, LLC, in 2017.

This news is based on a press release statement.

In other recent news, Harmony Biosciences Holdings Inc. reported a strong financial performance for the fourth quarter of 2024, with earnings per share (EPS) of $1.08, surpassing the forecasted $0.69, and net revenue reaching $201.3 million, exceeding expectations of $198.6 million. The company projects 2025 revenue between $820 million and $860 million, aligning closely with H.C. Wainwright’s estimate of $860 million. Analysts at Mizuho Securities have raised the stock’s price target to $44, reflecting confidence in Harmony’s pipeline and the potential of its lead asset, Wakix, to achieve blockbuster status. Meanwhile, H.C. Wainwright adjusted its price target for Harmony to $70, down from $75, following the FDA’s Refusal to File letter for Wakix in treating idiopathic hypersomnia.

Harmony Biosciences is committed to advancing its pipeline, with plans to seek regulatory approval for a high-dose version of pitolisant for idiopathic hypersomnia. Cantor Fitzgerald maintained an Overweight rating with a price target of $54, emphasizing the company’s promising clinical trials and potential product launches. The firm highlighted Harmony’s focus on rare neurological conditions, with six registrational trials expected to conclude by the end of 2025. Harmony’s robust financial position, with $576.1 million in cash and cash equivalents, supports its ongoing clinical and commercial initiatives. These developments suggest continued growth and strategic advancements for Harmony Biosciences in the coming years.

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