Healthcare >> CEO Interviews >> December 14, 1998
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
Mr. Garner: Our business is based on the execution of a two-pronged
growth strategy which is focused first on building up a
