Alexion Pharmaceuticals Inc named long-time Biogen Inc Chief Financial Officer Paul Clancy to a similar position, effective July 31, as recently appointed CEO Ludwig Hantson steps up efforts to regain investor confidence.
Alexion’s shares were up 3.6 percent at $111.88 in after-market trading on Tuesday.
Hantson, a former chief executive at Baxalta, was named to the top job in March after a challenging few months for the drugmaker.
Alexion said in December its then chief executive officer and chief financial officer would resign, a month after the company announced it was investigating allegations related to sales practices at its flagship drug, Soliris.
Soliris, which treats two rare blood disorders and has a U.S. list price of about $480,000 per year, is facing slowing sales growth and looming competition.
Clancy, who has been with Biogen for the past 16 years, served as CFO for the past 10 years. Prior to Biogen, he spent 13 years with PepsiCo Inc in various executive positions, Alexion said.
Clancy will succeed Dave Anderson, who will become a senior adviser to the CEO after July 31 and will remain with Alexion until the end of August, the company said.
Alexion’s shares plunged to a more than three-and-half year low last month after the company said Anderson would leave.
Clancy will remain at Biogen through the second quarter, the company said on Tuesday.
Biogen said Chief Accounting Officer Greg Covino will become the interim principal financial officer as it conducts a search for a new CFO.
By Ankur Banerjee
Source: Reuters
CureVac and the University of Texas’s MD Anderson Cancer Center have announced a co-development and licensing agreement to develop novel messenger ribonucleic acid (mRNA)-based cancer vaccines. The strategic collaboration will focus on the development of differentiated cancer vaccine candidates in selected haematological and solid tumour indications with high unmet medical needs.
FUJIFILM Corporation is planning to invest $1.2 billion to expand the planned FUJIFILM Diosynth Biotechnologies manufacturing facility in Holly Springs, North Carolina, US. This news follows the organisation’s announcement of a $2 billion investment in the facility in March 2021. This additional financial boost totals the investment to over $3.2 billion, FUJIFILM confirmed.
Sanofi’s global restructuring and downsizing is now fully underway, with layoffs stretching to the company’s Belgian offices. Belgian newspaper De Tijd reports that 67 employees have been laid off at a site in Ghent and 32 jobs are on the chopping block at Sanofi’s Belgium HQ in Diegem.
