Co-founder and CEO, Carl Whatley was recently awarded one of Finance Monthly’s prestigious CEO Awards for 2018.

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Carl began his pharmaceutical career in 1981 as a sales representative for Ives Laboratories (then a division of American Home Products Corporation). He spent the next 19 years in various pharmaceutical divisions of American Home Products, which included Ives Laboratories, Ayerst Laboratories, and Wyeth Laboratories. He was recognized with several national sales awards, including the President’s Golden Circle and the Gala Award for outstanding performance.

In 2001, he was infected with the entrepreneurial bug, which led to his resignation from Wyeth and the creation of ProEthic Laboratories LLC. While ProEthic focused on branded products, his instincts (and some prodding from a friend at Johnson & Johnson, who later became the co-Founder of Vitruvias) would soon lead him to start Midlothian Laboratories, a wholly-owned subsidiary of ProEthic, focusing on generic products.

In 2008, both companies were acquired. ProEthic by Kowa Company Ltd., headquartered in Nagoya, Japan, and Midlothian by Hi-Tech Pharmacal (Long Island, New York-now owned by Akorn).

Carl served as Chairman and Chief Executive Officer until he retired in early 2009 to start Cendalor Lifesciences LLC.

Cendalor, a boutique management consulting and investment analysis firm, operated within the pharmaceutical, medical food, and dietary supplement sectors.

In early 2013, Mr. Whatley, co-founded Vitruvias Therapeutics Inc. with his friend and former President of Midlothian, Bryce Harvey. Their focus is on a partnership model where they seek to identify niche generic injectable and topical products through the joint cooperation of their partners. They engage primarily non-U.S. partners, where emerging markets can offer competitive pricing dynamics and lower production costs.

Vitruvias’s contribution to the partnerships include knowledge of the distribution and contracting complexities of the U.S. generic market, followed by regulatory and product development expertise.

Early in his entrepreneurial career, Carl’s interest in transdermals led him in 2004 to author an article in Pharmaceutical Formulation & Quality Magazine titled “Getting Under the Skin”. This interest emanated from the lack of transdermal pain products in the U.S and eventually led to the in-licensing of a transdermal patch project from Europe.

In 2006, Mr. Whatley was named the Small Business Administration’s Business “Person of the Year” for the State of Alabama and in 2005 and 2006, he was a finalist for Ernst & Young “Entrepreneur of the Year Award.”

Mr. Whatley was also featured in the 2008 edition of “PharmaVoice Magazine” as part of the “100 of the Most Inspiring People of the Year” within the Pharmaceutical Industry.

He is the co-holder and co-inventor of three patents and attributes his scientific prowess to his liberal arts education at Auburn University-Montgomery. He is a 1983 graduate, with a B.A. in history.

He fully attributes his success to the people around him, since it makes no sense that a history major should succeed in the science-based pharmaceutical l industry.

Mr. Whatley enjoys spending time with his family, traveling and eating ice cream.