Jack Schuler, an investor who has held top leadership posts in the pharmaceutical and biotech industries, last week purchased 8.3 percent of the shares of GTx Inc. for himself, his foundation and his children.

“I normally don’t comment on why I make investments,” Schuler told The Daily News. “My purchases sort of speak for themselves about how I feel about the management team and the company.”

Schuler on Jan. 22 bought more than 2 million shares of the common stock of GTx for his individual retirement account and a trust for which he is the sole trustee. In addition to these 2,014,682 shares, he bought 427,563 shares for three trusts that he established for the benefit of his children and 621,871 for a tax-exempt private foundation that he established.

Schuler is the former chief executive officer of Abbot Laboratories, a diversified health care company. He is also a member of the board of directors for Medtronic Inc. and Quidel Corp., two companies involved in health care products.

Several executives of GTx and other high-profile stockholders, including AutoZone founder Joseph “Pitt” Hyde III, recently increased their stake in the Memphis-based pharmaceutical company.

Schuler made his purchase on Jan. 22, the same day the European Medicines Agency recommended a warning label on the drug Fareston because it may be associated with risk of Torsades de Pointes, a rare and potentially fatal arrhythmia. The company’s stock plunged after the announcement.

However, Aaron Reames, a senior analyist who covers the biotechnology industry for Wachovia Capital Markets, issued a report five days later on GTx with an “outperform” recommendation.

Reames advised that investors should “maintain perspective” because other drugs on the market, including some antibiotics, have labels with similar warnings. He also mentioned the company’s pipeline, noting that GTx has the potential to file four new drug applications into 2011, “starting with Acapodene for the amelioration of side effects of androgen deprivation therapy in men with advanced prostate cancer for which we believe there are high odds of success.”