Chester County Briefly: July 10

Gawthrop Greenwood and Volunteer English Program

John Rafferty, an attorney with the law firm Gawthrop Greenwood, has been elected to the board of the Volunteer English Program, a nonprofit that ensures that English language services remain available and accessible to the many immigrants and refugees living and working throughout Chester County.

“At a time when communicating transnationally is more important than ever, it seems to me essential that we give new immigrants in Chester County the tools that they need to succeed and contribute to the interwoven fabric of our country,” said Rafferty. “I’m excited to work with the talented people on VEP’s board to help expand the reach of one-on-one English tutors we train and support.”

Rafferty’s passion for assisting newcomers from other countries began during his career in the U.S. Navy, where he served as the Assistant General Secretary for the Migrant Workers Protection Society in Bahrain, addressing the housing needs of the area’s migrant workforce.

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Lamb McErlane

Joel L. Frank, Managing Partner and Executive Committee Chairman of Lamb McErlane, has been elected to the Board of Directors of the Zoological Society of Philadelphia, commonly referred to as the Philadelphia Zoo.

At Lamb McErlane, Frank concentrates his practice in commercial and civil litigation in state and federal courts, election law, as well as attorney and judicial discipline and ethical matters. He provides counseling to corporate clients and often serves as an arbitrator and mediator. He was recently named General Counsel for the Republican Party of Pennsylvania, is Chair of the Board of Directors for Alex’s Lemonade Stand Foundation, and serves as a Commissioner on the Pennsylvania State Athletic Commission.

Egalet

Egalet – a pharmaceutical company in Wayne that focuses on developing, manufacturing, and marketing innovative treatments for pain and other conditions – intends to offer and sell shares of its common stock and warrants to purchase shares of common stock in an underwritten public offering.

In connection with this offering, Egalet expects to grant the underwriters a 30-day option to purchase additional shares of common stock and warrants, equal to up to 15 percent of the number of securities sold in the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the securities in the offering are to be sold by Egalet.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

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Southern Chester County Chamber of Commerce

The Chamber will host its Annual Scholarship Golf Tournament on Monday, Aug. 7 at 11 AM at Wyncote Golf Club. The event benefits the SCCCC High School Scholarship Fund, which has been awarding scholarships to area students since 1995. Individual golfers are $225, pairs are $450, and foursomes are $825.

Hole sponsorships and other sponsorship opportunities are available. Click here for more information.

Each year, the SCCCC awards three, $1,000 scholarships to deserving students in the Avon Grove, Kennett Consolidated, and Unionville-Chadds Ford school districts. The Chamber’s Scholarship Fund also provides three scholarships, valued at $575 each, to high school students to attend the Foundation for Free Enterprise Summer Business Camp.

Endo

Endo – a pharmaceutical company with its American headquarters located in Malvern – continues to believe in the safety, efficacy, and favorable benefit-risk profile of Opana ER when used as intended, and notes that the company has taken significant steps over the years to combat misuse and abuse.

Nevertheless, after careful consideration and consultation with the FDA following the FDA’s June 2017 withdrawal request, Endo has decided to voluntarily remove Opana ER from the market. As a result, the company expects to incur a pre-tax impairment charge of approximately $20 million in the second quarter of 2017 to write-off the remaining net book value of its Opana ER intangible asset.

Reported net sales of Opana ER were $158.9 million for full-year 2016 and $35.7 million for first quarter 2017.