Hello, everyone, and how are you today? We are just fine, thank you, as a warm and shiny sun envelops the Pharmalot campus, where the shortest of short people has left for a summer activity and the official mascots are snoozing away. As for us, we are pursuing our usual routine of foraging for interesting items and the like. And there is no time to waste. So here are some tidbits for you. Have a smashing day and do keep in touch …
Biogen chief executive George Scangos will leave the biotech sometime over the next few months. The decision follows a difficult year marked by executive changes, cutbacks, a falling stock price, and uncertainty about strategy. Biogen, which is struggling to jump start its multiple sclerosis franchise, plans to spin off its hemophilia business and recently suffered a setback when a mid-stage trial failed.
Theranos is belatedly scrambling to bolster its regulatory compliance by hiring two new executives and creating a new compliance and quality committee. The beleaguered lab company hired Dave Wurtz from Thermo Fisher as vice president for regulatory and quality, and Daniel Guggenheim, a lawyer at McKesson lawyer, as chief compliance officer. Both will report to Theranos chief executive Elizabeth Holmes.
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With the Chief Compliance Officer if Theranos reporting directly to Elizabeth Holmes I can’t think of a better example of the fox guarding the hen house.
Hi Pharmvet1,
I agree. It does seem backward. If anything, the board should require her to attend half-day tutorials with these new hires in regulatory and compliance matters once a week for the next six months. And I’m curious to know about the compensation for these new guys under the circumstances.
Cheers
ed