Richard Casten
Richard Casten
The role of Chief Financial Officers (CFOs) has transcended traditional boundaries of finance, evolving into multifaceted leaders driving strategy, technology, innovation, and culture within organizations. Having read and observed CFOs worldwide and across diverse organizational structures and sizes, it’s evident that strategic decision-making lies at the core of their responsibilities. Their involvement extends beyond financial matters, increasingly encompassing pivotal decisions on how businesses adapt to emerging trends, particularly at the intersection of technology and finance.
This evolution is exemplified by Richard (Rick) Casten, the CFO of Cosette Pharmaceuticals, whose strategic acumen and forward-thinking approach set him apart as a beacon of leadership in the pharmaceutical industry.
Roots of Resilience
Brought up in Pittsburgh, PA, being the youngest among five siblings, Rick’s father’s career spanned from sales at National Steel/Stran Steel to becoming a stockbroker for Merrill Lynch after earning an MBA from the University of Pittsburgh. Meanwhile, his mother, the CEO of the Casten Family, instilled the values of education, hard work, and dedication in him and his siblings, ensuring they excelled both academically and athletically.
Rick’s journey into accounting began in high school, where he discovered a passion for the subject. Despite some initial challenges and focus at Lehigh University, he found guidance and mentorship from professors like Dr. Parveen Gupta, who took the time to invest in his students through review of homework and tests, as well as complex accounting principles and concepts during his office hours. Professor Gupta imparted invaluable technical knowledge and skills in accounting and auditing. This foundation laid the groundwork for Rick’s successful career trajectory.
His academic pursuits at Lehigh University equipped him with critical thinking and quantitative analysis skills, essential for his role as a CFO today. Armed with a degree in accounting from Lehigh, his CPA certification in both Pennsylvania and California, along with an MBA from the Johnson School at Cornell University, Rick embarked on a commendable yet elaborate career path.
Seasoned Leadership
With over 25 years of experience spanning the pharmaceutical, biotech, Fortune 500 consumer products, and public accounting sectors, Rick brings a wealth of expertise to his leadership role at Cosette.
Before joining Cosette, Rick served as the Executive Vice President and Chief Financial Officer of Baudax Bio., a publicly traded pharmaceutical company specializing in innovative products for acute care settings. In this capacity, he spearheaded all financial aspects of implementing the company’s global corporate strategy. Prior to Baudax Bio., Rick held the position of Vice President, Controller, and Treasurer at Lupin Pharmaceuticals, Inc., where he oversaw all of the financial, accounting, and treasury operations for the $1B U.S. Business.
His career journey also includes roles at Endo International plc, a specialty pharmaceutical company, and Campbell Soup Company, where he held positions of increasing responsibility. Rick’s foundational years of experience were spent at Ernst & Young LLP, where he rose to the rank of Senior Manager in Assurance and Advisory Business Services.
As the SVP & CFO
In a brief interview, we inquired about Rick’s primary roles and responsibilities as the SVP and CFO. He indicated, “I oversee all global financial operations, risk management, treasury and cash management, tax, and the company’s long-term strategic priorities.” During our discussion, he elaborated on how his extensive experience in building commercial enterprises, directing multifunctional teams, and achieving results across diverse therapeutic domains uniquely positions him as a driving force behind Cosette’s ongoing evolution and success in the ever-changing healthcare arena.
Rick also believes that successful collaboration entails active engagement, empathy, accountability and a readiness to work towards common objectives. In his role as the CFO of Cosette Pharmaceuticals, he endeavors to foster cohesion and financial alignment throughout the organization, encompassing senior leadership, commercial, manufacturing, quality, research and development, finance, business development, human resources, regulatory, information technology, and strategy departments.
Driving Transformation and Innovation
Under Ricks guidance, Cosette Pharmaceuticals has achieved significant growth and made transformational progress to be a leader in the specialty pharmaceutical industry. They’ve transformed from a legacy dermatology generics organization to becoming a branded and generics specialty pharmaceutical entity, driven by a strategic acquisitions in 2022 and 2023. With a cutting-edge manufacturing site in Lincolnton, NC, and strategic partnerships with major retailers like CVS and Walmart, Cosette is expanding its market reach. The company remains committed to innovation, investing in research and development for life-enhancing therapies. With several products in development awaiting FDA approval, Cosette’s focus on quality and cybersecurity fortification ensures readiness for future growth and success. Overall, Cosette Pharmaceuticals, led by Rick Casten, is primed for continued innovation and positive impact on patient lives and the pharmaceutical industry.
Balancing Act: Rick’s Approach to Work-Life Harmony
Rick emphasizes the importance of a well-rounded personal life outside of work for achieving success in the office. His recent focus has been on raising his two children and spending quality time with his wife, instilling values and prioritizing education within their family dynamics. Rick has also been actively involved as a coach and mentor in his children’s sports activities, emphasizing good sportsmanship and respectful competition. With his children now entering college, Rick and his wife enjoy more time together with their friends, indulging in beach outings, golfing, and travel adventures.
Outside of family life, Rick Casten engages in various activities to maintain a healthy work-life balance, including fitness and exercise, international travel and exploration, as well as volunteering and community service. He believes that maintaining overall well-being requires a proper balance between work and personal pursuits. To achieve this balance, Rick suggests setting clear boundaries, prioritizing self-care, organizing tasks efficiently, learning to say no when necessary, and embracing flexible work arrangements. He also advocates for unplugging work after hours to fully recharge and rejuvenate.
Company
Cosette Pharmaceuticals
Management
Richard Casten
Description
Cosette Pharmaceuticals is a US based, diversified pharmaceutical company with a proven topicals and dermatology portfolio and a growing branded pharmaceuticals business. We are fully integrated, with a deep focus on internal R&D, high quality manufacturing standards and commercial sales excellence. We continue to diversify and expand through strategic partnerships, acquisitions, and internal R&D.
Read Magazine
View more profiles
Over the past two decades, Mónica has steadily advanced through various positions within the supply chain field.
Paul is the executive sponsor for the Customer Operations department, where, together with the team.
Her current focus lies in mentorship, alongside her passion for strategizing and business development.
Noëlle Demole's perseverance and dedication to bringing about social change are shown by her path to founding EGIDAYS.
Michelle Fiegehen, an Australian senior director currently based in the Philippines, leads and develops Yempo’s operations.
As the Global Communications Director at Kushki, Eva oversees all internal and external communications
Cindy Eggleton values relationships deeply, dedicating much of her time to friends and family. She has a passion for art and unique local businesses..
Complete Framing Solutions stands out from the competition due to its comprehensive approach to construction.
Sally Estlin embraces a powerful mantra guiding her through life's ebbs and flows: Let go, Step up, and Be more.
Tara Home Consulting distinguishes itself by not only advising on what needs to be done or which software to buy but by deeply integrating into the client's company.
Rick also believes that successful collaboration entails active engagement, empathy, accountability and a readiness to work towards common objectives.
In his role as CFO of Purple Brand, Jonathan Melegrito leads both the Finance and People & Culture teams
Beyond his professional pursuits, Jesse's passion for speed and racing defined much of his youth.
Jack Sharp oversees every aspect of Progressive Screens, from product design to nurturing the company culture.
Burns Virtual Psychological Solutions prioritizes a meticulous approach with each patient, emphasizing quality over quantity.
Earth Retention captured Malia's attention due to the opportunity to address real challenges and implement meaningful changes within the company.
Grace's involvement in implementation projects for strategic clients sparked her interest in the "Field Organization," where she ...
Carina and her staff are essential components of a worldwide family, having joined Hosts Global with pride.
Angela Cherry firmly believes that as long as one is alive, there are endless opportunities for learning and self-improvement.
Beyond her professional avatar as a Boss Woman, Margot is a hardcore pleasure seeker at heart. Anything which guides her away from the mundane way of life,
Valerie Berthereaux feels incredibly fortunate to have a loving and supportive family and friends. Her two children bring her immense pride,
Balancing her personal life with her role as a transformative coach, Jennifer practices what she teaches. She remains true to her values, recognizing the essential.
Passionate about healthy living, Patricia Berrocal, an advocate for balanced well-being, finds joy in activities such as sports, yoga, and skiing.
Committed to both personal and professional development, Paula prioritizes continuous learning to enhance her performance and capabilities.
With a steadfast vision for advancing along this path, Winnie sought counsel from seasoned entrepreneurs.
Renée Dobos has a profound personal connection with the transformative power of education.
From a young age, Christine McGuire drew inspiration from her parents' strong work ethic.
Caroline Alan, not hailing from a scientific or medical background but rather from the tech realm,
In his daily pursuit, James focuses on incremental success, acknowledging that small achievements compound over time.
Frank and his team’s philosophy is to treat the rest of the organization as their clients, and themselves as a key service provider to the company.
At Doppelmayr, Daniela Guerrero has emerged as a trailblazer in this movement.
As a young cross-country skier, Viktoria traveled extensively during weekends for competitions across Finland.
Veronica Boh, a Malaysian of Chinese heritage, spent the early years of her life in the UK, Germany, and Taiwan, returning to Malaysia at the age of five.
Ms. van Teeffelen's early years were truly remarkable, marked by her upbringing as an expatriate child.
Nicole Mauthe was born in November 1978 in a small village in Bavaria, Germany, as the daughter of a carpenter and a technical draughtswoman.
Born and raised in Vienna, Austria, Nicole Lehrer's upbringing already shaped her groundwork for her future mission.
Born in Little Rock, Arkansas, Amber entered the world to a courageous teenage mother who believed that entrusting her child to a more prepared family was the best course of action.
Amidst the vast digital highways of submarine cables, a standout luminary emerges in the exciting world of modern telecommunications.
Persuaded by her experience, Laurel Sim decided to partner with Taleo during a crucial point in her career.
The expertise and guidance of CTOs are vital for companies as they navigate the complexities of the modern digital era.
Luke Marchant stated that his love of technology was sparked at a young age while reflecting on his journey.
Caio Almeida, a pioneer in the field of creative technology, serves as the Chief Technology Officer of OPTO CREATIVE LAB INC.
Tristan McKinney envisions a future for Sofi Exploration that encompasses relentless growth and adaptability.
Being that person who was always interested in sports since his early years, Mike Edwards was appointed as a red shirt for his University Basketball team.
In his role as COO, Kevin has been involved in various aspects, from overseeing expansions into new territories to crafting employee benefit plans.
Dominic Haas leads a youthful and dynamic team at Legacy Network, setting the tone for a culture steeped in growth and entrepreneurial mindset right from inception.
The crucial role played by specialty pharmacy has never been more evident in a time of unheard medical discoveries.
In recent years, there has been an incredible growth in the number of high-quality real estate firms operating worldwide.
During her tenure at the Firm, Ana has assumed diverse roles, finding particular fulfillment through her active participation.
Ana O. Ramirez has vital direct knowledge of the particular requirements of Rhisco’s target market.
As the Director Principal Alison ensures that the workspace is a testament to their ...
Beyond her work at Bonjour et co., Alexandra Kemp leads a social and active lifestyle.
Robert SEREC, the CEO and visionary founder of the White Hydrogen Coalition, is in charge of the organization.
Lorri Haines finds himself amidst the bustling dynamics of a new addition to the household—a baby that has added a layer of busyness to his days.
Under Gert J. Roselt’s leadership, Probe Integrated Mining Technologies has successfully built a dynamic team and a robust network.
Technology offers limitless prospects for Daniel Pizon, a tech fanatic driven by an insatiable quest for innovation and progress.
Scott Berry assumes responsibility for overseeing the agency's service offerings and pricing strategies.
Roger Clements, the driving force behind the marketing and strategy function at Matrix, emphasizes that the measure of success for both himself and his team is crystal clear.
In his marketing strategy, Ori Matarasso places a strong emphasis on executing campaigns at a very specialized level.
Lars feels incredibly privileged to be a member of a remarkably prosperous company that has experienced extraordinary achievements in recent times
Benedikt Grass, who holds the position of Chief Marketing Officer (CMO) at PassportCard Deutschland GmbH.
A Chinese National by origin, Celina Shi has been living in the UK for the past 13 years. She began her career in Motorola as the Team Lead.
Allan can easily be described as a serial entrepreneur, constantly devising novel solutions to various problems
Alexander Koenig started his career as a consultant at the Boston Consulting Group (BCG) and McKinsey & Co.
As the Managing Director, Mr. McKenna sees himself as a coach who motivates and inspires others.
Prudence Masako faced numerous challenges during her career, but two stood out.
As a co-founder, Ms. Lauren’s main objectives include staying abreast of the latest developments and trends in the education industry.
As a young adult fresh out of college, Kathi Klawitter was eager but unsure of her path.
Anna-Maria Hoffmann oversees the company's efforts to satisfy the mass of orders despite the exclusive and restrictive distribution of the luxury industry.
As a female leader and the CEO of censhare, Esther Donatz believes in creating an environment where all women have the opportunity to succeed.
Zaher El Houssari always begins with a written plan, aiming to minimize unnecessary expenses and prioritize short-term goals.
Yeliz Kalafat's leadership in financial management has been instrumental in driving the company's growth and success.
As the Group CFO for the NIRAS Group, Ms. Christensen is tasked with overseeing the group support functions.
Nicolas Dupont ensures that all the lodges and activities in Vaolo’s inventory have undergone a rigorous 15-point evaluation process
As the Chief Financial Officer, one of Lee’s primary responsibilities is to oversee OnlyFans vast payments network and manage its financial risk exposures.
Henriksson has been with Eton Shirts since 2019 and has been instrumental in leading the brand's financial strategy
As CFO, Couture has been instrumental in overseeing the financial operations of the company, implementing cost-saving measures, and driving profitable growth.
Nadir Causholli has distinguished himself as a dynamic and forward-thinking leader, propelling CFO Pharma to new heights of excellence.
As the CEO of Aparavi Software, Gregor Bieler is leading the company towards change by emphasizing the importance of data management in today's business landscape.
Making remarkable contributions to the software industry, today women leaders are managing some of the most innovative and successful software companies .......
Dr. Eric Leire, the CEO of Genflow Biosciences, is one such leader. He dedicates himself to the development of novel gene-based therapeutics
Vladimir Stulančák venture into this field started in the year 2009, when he was looking for a change from the automotive industry, where he had served for a good amount of time.
Just like any other entrepreneur, for Chris - starting his very own skincare brand has been both the most fulfilling and nerve-wracking experience of his life.
Richard Sarti heads the operations at NODES as the CEO, who is known for his quick yet effective decisions
Dr. Marine Hadengue grew up in the Caribbean Islands and spent more than 15 years residing in Canada and the United States before relocating to the South of France.
A leader in the field of software development should possess a diverse range of skills and qualities to stay ahead in the highly competitive market.
Delmar Assis, who as the CEO of DRZ Corporation is converting regular companies to well-performing data-driven companies.
Peter Nagy is focusing on creating outstanding RPG games, which aligns with his long-standing dream of creating immersive fantasy worlds and adventures.
Edwin Elias is the current Chief Executive Officer of Morupule Coal Mine (MCM) - Botswana, which has a rich history of over 40+ years.
The Entrepreneur's Source (TES) has been the sole Career Ownership Coaching organization for more than 38 years, offering education,
Professor Petro Terblanche has a successful track record in the strategic and operational management of technology intensive organizations.
Martha Shwartz is a founding partner of Martha Shwartz Partners (MSP), a leading international design practice whose work focuses on regenerating,
As the current Vice President and an Executive Board Member of UDN Group, Ms. Cynthia Huang has earned a name for herself as a manager
