Good morning, everyone, and how are you today? A bright and shiny sun is enveloping the Pharmalot campus, where the official mascots are fertilizing the newly snow-covered grounds and the short person has left for the local schoolhouse. As for us, we are considering our to-do list and brewing a needed cup of stimulation, since we anticipate another busy day. No doubt, you can relate. So time to get cracking. Here are some items of interest to get you started. Have a wonderful day and drop us a line when something interesting arises …
Celgene (CELG) announced the immediate departure of president and chief operating officer Scott Smith, following several recent setbacks. The Food and Drug Administration refused to review a drug the biotech was testing for multiple sclerosis because of “incomplete” pharmacology data. Last October, Celgene unexpectedly halted development of another drug for combating Crohn’s disease, and then shortly afterward made deep cuts to its long-term financial guidance. “We are not surprised to see a senior member of management take the fall,” wrote RBC Capital Markets analyst Brian Abrahams.
About the Author Reprints
Mark Alles still continuing the additional responsibility of COO?
Hi Mark,
Alles is ceo
Regards
ed at pharmalot
May I observe the mildly bitter irony that if Allergan (nee Actavis nee Watson et al) jettison’s the women’s health division, the core company there – Warner Chilcott – had the Irish domicile that allowed them to shelter income from US taxes AND was the logic for the aborted Pfizer bid for the company. Of course, there’s a consistent logic to this … (pregnant pause … no pun intended)