Healthcare >> CEO Interviews >> December 14, 1998

Cam L. Garner – Dura Pharmaceuticals Inc (dura)

CAM L. GARNER brings more than 25 years of health care business experience to the position of Chairman and Chief Executive Officer of Dura Pharmaceuticals, Inc. Mr. Garner currently serves as Director on several outside boards including Safeskin Corporation, CaridoDynamics International, Nanogen, Inc. and Spiros Development Corporation II (Spiros Corp. II) and the San Diego Economic Development Corporation. Since joining Dura in 1989, Mr. Garner has led Dura's successful transition to a profitable pharmaceutical marketing company and leader in pulmonary drug delivery technology. Under his direction, annual revenues have grown to over $180 million, from $3.8 million in 1990. Driving this dramatic rise in sales was the growth in Dura's pharmaceutical sales force, which expanded from eight sales representatives when Garner joined the company to 315 in 1997. The market value of the company increased from $5 million to over $2.0 billion. During Garner's tenure, Dura has been highly successful in accessing the capital markets. In February 1992, Dura completed its Initial Public Offering, raising $25 million. Approximately $400 million has been raised through additional follow-on public offerings completed in November 1994, August 1995, May 1996, and November 1996. In July 1997, Dura completed a convertible debt-offering of $287,500,000. In December 1997, Dura sponsored the initial public offering for Spiros Corp. II which raised $95 million. Before joining Dura, Garner was part of the management team that built Hybritech Inc., a division of Eli Lilly & Co., which developed monoclonal antibodies for use in diagnostic and pharmaceutical products. As Senior Vice President of sales and marketing, Garner directed domestic and international marketing operations, increasing product sales from $4 million to $60 million in four years. Also among his earlier positions, Garner was President of Syntro Corp., a company applying biotechnology to the development of human health care products and animal vaccines. While at Syntro, he restructured the entire company to form a profitable and growing animal health business. Garner also held several management positions of increasing responsibility at Corning Glass Works and its subsidiary Gilford, Inc., a manufacturer of biomedical research products and clinical diagnostics. Prior to joining Corning, he worked with UpJohn Pharmaceuticals as a sales representative. Garner earned his Master's Degree in Business Administration from Baldwin-Wallace College in Berea, Ohio and his Bachelor of Arts Degree in biology from Virginia Wesleyan. Profile
TWST: Give us a brief overview of Dura - history and activities?

Mr. Garner: Our business is based on the execution of a two-pronged

growth strategy which is focused first on building up a