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Aqua Pharmaceuticals, LLC Announces Retirement of CEO Craig Ballaron, Promotion of Ted White to President


Aqua Pharmaceuticals, LLC today announces that Craig Ballaron, CEO and founder of Aqua, plans to retire during January 2016.

In a memo to employees, Eduardo Sanchiz, CEO of Almirall, parent company of Aqua, stated, "In the two years since Aqua's acquisition by Almirall, a global pharmaceutical company, Ballaron has continued the successful path of Aqua and facilitated a balanced integration with Almirall, blending the best of both companies and taking the best interests of the business, customers, and employees into account."

Sanchiz continued, "We will miss Craig's strong business acumen and his deep understanding and commitment to the U.S. dermatology market. I have personally enjoyed the relationship we have developed over the past two years, and I would like to express my deepest appreciation to Craig and wish him the best during his retirement."

Following the retirement of Ballaron, Ted White, Chief Operating Officer of Aqua, will be promoted to the position of President and General Manager of the company effective January 2016. In this role, Ted will report to Alfonso Ugarte, Senior Director, Global Business Units at Almirall.

White joined Aqua as Vice President of Sales in January 2011 and was promoted to Chief Operating Officer in February 2013. During his tenure, White has led a rapid expansion of Aqua, doubling both the company's sales and employee base.

"We wish Ted continued success in his new position," said Sanchiz. "As he transitions into his new role, Ted will continue to receive full support from all areas of our company."

About Aqua Pharmaceuticals

Headquartered in West Chester, Pennsylvania, Aqua Pharmaceuticals, an Almirall company, is dedicated to helping patients achieve their goals of healthy skin and a positive self-image. The company has leading branded prescription drugs in four therapeutic categories that include acne, steroid-responsive dermatoses, actinic keratoses and seborrheic dermatitis.

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About Almirall

Almirall is a global company based in Barcelona dedicated to providing valuable medicines through its R&D, agreements and alliances. Our work covers the whole of the drug value chain. A consolidated growth allows us to devote our talent and efforts towards specialty areas and particularly to further grow as a leading Dermatology player. Our size enables us to be agile and flexible so that we can accomplish the purpose of taking our innovative products wherever they are needed.

Founded in 1943, Almirall is listed on the Spanish Stock Exchange (ticker: ALM) and it has become a source of value creation for society due to its vision and the commitment of its long-standing major shareholders. In 2014, its revenues totaled 1,407 million euros and, with more than 2,100 employees, it has gradually built up a trusted presence across Europe, as well as in the US and Mexico.

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Aqua Pharmaceuticals, LLC
Lisa Wilk, 610-644-7000

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