Sarepta Therapeutics, the Cambridge biotech that won approval last year for the first-ever Duchenne muscular dystrophy drug, said Wednesday that it had appointed former Allergan executive Douglas Ingram as its new CEO.
Sarepta had been searching for a new CEO after Ed Kaye announced in April that he planned to step down. Ingram served as president of Allergan until the company was acquired by Actavis in 2015. More recently, he was CEO of Chase Pharmaceuticals, a California biotech focused on neurodegenerative diseases that was sold to Allergan in November 2016 for $125 million upfront.
Kaye was named interim CEO of Sarepta in March 2015 and took on the job permanently in September 2016. He helped Sarepta win approval for the first-ever Duchenne treatment, Exondys 51, despite limited clinical data. Lingering doubts about the drug’s efficacy, coupled with its high price tag, have led to disputes over reimbursement, though the company has said that sales are strong thus far.
“Sarepta has a mission that matters, a deep pipeline to support that mission, and employees and a board that are single-mindedly focused on success through improving the lives of those with devastating rare diseases,” Ingram said in a statement Wednesday. “We will remain committed to the continued success of EXONDYS 51, and rapidly advancing our clinical pipeline and next-generation platform technology.”
According to Sarepta, Ingram will also serve on the company’s board.
Source: Boston Business Journal
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