BioSpecifics Technologies Corporation (NASDAQ: BSTC), a biopharmaceutical company, has named Joseph Truitt as its new chief executive officer, it was reported on Monday.

The company's board of directors earlier named Truitt as its interim chief executive officer. Truitt joins BioSpecifics from Achillion Pharmaceuticals Inc where he was CEO. His earlier positions in the company include chief operations officer and chief commercial officer.

Truitt, said, 'Over the last month, I have become even more confident in the deep value of the Company and the many growth opportunities, which were what originally drew me to the Company. I look forward to building an even greater future for BioSpecifics and improving many more patients' lives.'