Assertio Holdings, Inc. Announces Leadership Transition

Dan Peisert Stepping Down as CEO

Board member Heather Mason Appointed Interim CEO

LAKE FOREST, Ill., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT), a specialty pharmaceutical company that acquires, commercializes and develops safe and effective therapies that make a difference in the lives of patients, announced today that Dan Peisert is stepping down as the Company's Chief Executive Officer. The Board has appointed Heather Mason, currently an independent director of the Company and Chair of its Nominating and Corporate Governance Committee, to serve as interim CEO as the Company conducts a search for a permanent chief executive.

Peter Staple, Chairman of the Assertio Board of Directors, said, "On behalf of the Board, I would like to express our appreciation to Dan for his contributions to the growth and transformation of Assertio in his roles as CEO, and earlier as CFO."

Ms. Mason has served as a member of the Assertio board since 2019 and brings deep experience as a leader in the pharmaceutical and healthcare industry with a strong track record in successful commercial execution. She has held several senior leadership positions at Abbott Laboratories, including Executive Vice President, Nutrition, Senior Vice President of Diabetes Care, Vice President of Specialty Pharmaceuticals and Vice President, International Marketing, and played a key role in Abbott's launch and commercialization of Humira^®, one of the most successful pharmaceutical products in history.

"I am committed to Assertio and its employees and stakeholders, and its future success," Ms. Mason said. "I will work to ensure that we are best positioned to maximize the opportunities in front of us, and to ensure a smooth leadership transition as we bring in a CEO to lead the Company into the next phase of our business."

About Assertio

Assertio is a specialty pharmaceutical company that acquires, commercializes and develops safe and effective therapies that make a difference in the lives of patients. Utilizing a proprietary digital-focused commercialization approach we can promote products across multiple therapeutic categories. We strive to lead by example, embrace change, and make a positive impact in our community while creating better experiences for our employees, partners and shareholders. To learn more about Assertio visit www.assertiotx.com.

Forward Looking Statements

Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio's current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, future events or the future performance or operations of Assertio, including risks related to the potential disruption of management time from ongoing business operations due to the leadership transition; our ability to successfully recruit a permanent CEO and the timing thereof; our ability to attract and retain other key management and operating personnel; and our ability to realize the benefits from our operating model, successfully integrate new assets and explore new business development initiatives. All statements other than historical facts may be forward-looking statements and can be identified by words such as "anticipate," "believe," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may," "objective," "opportunity," "outlook," "plan," "position," "potential," "predict," "project," "prospective," "pursue," "seek," "should," "strategy," "target," "would," "will," "aim" or other similar expressions that convey the uncertainty of future events or outcomes and are used to identify forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Assertio, including the risks described in Assertio's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC") and in other filings Assertio makes with the SEC from time to time.

Investors and potential investors are urged not to place undue reliance on forward-looking statements in this communication, which speak only as of this date. While Assertio may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by applicable law.

Investor Contact:

Matt Kreps

Managing Director

Darrow Associates

Austin, TX

M: 214-597-8200

[email protected]