Zila Inc. terminates pharmaceutical subsidiary GM David Barshis

Phoenix Business Journal - by Zila Inc. issued an 8-K with the U.S. Securities and Exchange Commission on Friday, announcing it has terminated the senior vice president and general manager of one of its subsidiaries. David Barshis was terminated on Tuesday from Zila Pharmaceuticals Inc., a shell of a subsidiary after Zila sold its Zilactin products to Blairex Laboratories Inc. for $10.3 million in June 2005. His termination announcement comes four days after Zila (Nasdaq:ZILAD) filed its annual report for the year ended July 31. The company had 367 employees as of July 31, but reduced that count to 334 on Sept. 19. The Phoenix company reported a net loss of $16.4 million on net revenue of $45 million for the year ended July 31. That compares with a net loss of $13.2 million on $38.8 million in net revenue for the previous... [read full story]