More trying times for Auxilium Pharmaceuticals, Inc. of Chesterbrook?

The specialty biopharmaceutical company on June 2nd announced the impending departure of James E. Fickenscher, the company’s chief financial officer, set for Aug. 15. Fickenscher is said to be leaving the company to pursue other interests.

The announcement is close on the heels of Auxilium’s announcement that the company reduced its financial guidance for 2014 due to lower-than-expected revenues from one of its products, Testim testosterone gel. Testim sales were down significantly during the first quarter of 2014 and full year Testim sales are now expected to be less than $85 million.

Auxilium recently attributed the disappointment to a shrinking testosterone replacement therapy gel market in light of the U.S. Food and Drug Administration’s announcement that it plans to study the safety of testosterone replacement therapy (TRT) products. Recent medical journal publications have suggested health risks associated with these products.

“The board and I want to thank Jim for his nine years of service and important contributions to the evolution of Auxilium,” said Adrian Adams, chief executive officer and president of Auxilium.

“Over the past year, we have evolved Auxilium into a company with a leadership position in men’s healthcare, and a diversified revenue stream driven by a portfolio of 12 products,” Adams said. “We are now positioning the company for the next phase of evolution and growth and have initiated the search for a new chief financial officer. Our focus remains to execute on our visionary goals and corporate strategy and, most importantly, to deliver value to our shareholders.”

Auxilium is a specialty biopharmaceutical company with a focus on developing and commercializing innovative products for specialist audiences. The firm is an emerging leader in men’s healthcare and has strategically expanded its product portfolio in orthopedics, dermatology and other therapeutic areas. Auxilium now has a broad portfolio of 12 approved products an also has programs in clinical development for the treatment of Frozen Shoulder syndrome and cellulite.

Links: www.auxilium.com