(Nasdaq:SGEN) has announced that its CEO Clay Siegall has resigned following a domestic abuse arrest in April. Police charged Siegall with fourth-degree misdemeanor assault. He maintains his innocence. The company has named its lead independent director Felix Baker to assume the role of chair of the board of directors. Seagen Chief Medical Officer Dr. Roger…
Moderna’s new CFO leaves after former employer discloses investigation
Moderna (Nasdaq:MRNA) CFO Jorge Gomez is gone from his new job effective immediately, the COVID-19 vaccine maker said today. Cambridge, Massachusetts–based Moderna said the departure comes after Gomez’s former employer, Dentsply Sirona (Nasdaq:XRAY), announced an “ongoing internal investigation into certain matters, including financial reporting,” Moderna said in a news release. Moderna did not say whether…
Pfizer to shell out $11.6B for migraine drugmaker Biohaven
Pfizer (NYSE:PFE) today announced that it has entered into an agreement to acquire Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN), which is best known for Nurtec ODT (rimegepant), a dual-acting migraine therapy. Pfizer will pay $148.50 per share in cash to acquire Biohaven, totaling approximately $11.6 billion. Nurtec generated $462 million in revenue in 2021. Pfizer…
Novartis temporarily halts production of two radioligand therapy medicines
Novartis (NYSE:NVS) announced that it had voluntarily stopped the production at radioligand therapy plants in Ivrea, Italy and Millburn, New Jersey, over possible quality concerns. In a statement, the company explained it had made the decision “out of an abundance of caution due to potential quality issues identified in its manufacturing processes.” As a result,…
Bausch + Lomb makes its stock market debut
After Bausch Health (NYSE:BHC) spun out its eye care unit Bausch + Lomb Corp. (NYSE/TSX:BLCO), its stock dipped 4.3% to $16.04 while BLCO shares increased 8.11% to $20.00 from a starting price of $18.00 per share. The $18 price tag was short of Wall Street’s expectations. The initial public offering was one of the first…
Lilly names accomplished immunologist to its board of directors
Eli Lilly and Company (NYSE:LLY) has elected Mary Lynne Hedley as a new board member, starting May 15, 2022. Hedley will serve on the board committees related to science and technology, and ethics and compliance. Hedley is an immunologist and cancer cell biologist with substantial experience in the pharma industry. Hedley has worked as a…
GSK to name Vishal Sikka to its board
GlaxoSmithKline plc (LSE/NYSE:GSK) has announced that the CEO of Vianai Systems, Vishal Sikka, will join its board as a non-executive director. Vianai Systems is a Bay Area startup focused on ‘human-centered AI.’ Sikka will join after GSK spins off its consumer segment, which it will term ‘Haleon.’ At GSK, Sikka will provide perspective on AI, which…
Pfizer ticks up on Street-beating Q1, lessens full-year guidance
Pfizer (NYSE:PFE) shares rose today on first-quarter financial results that came in ahead of the consensus forecast. The New York-based pharmaceutical company posted profits of $7.9 billion, or $1.37 per share, on sales of $25.7 billion for the three months ended April 3, 2022, for a 61.2% bottom-line gain on sales growth of 76.8%. Adjusted…
Johnson & Johnson reaches opioid settlement with Alabama
On the heels of announcing a $99 million opioid settlement with West Virginia, Johnson & Johnson (NYSE:JNJ) has reached a similar deal worth $77 million with the state of Alabama. The agreement removes J&J from cases filed in the state. The agreement did not involve an admission of liability or wrongdoing. In January, J&J reached…
Johnson & Johnson rises on mixed bag Q1, increased 2022 guidance
Johnson & Johnson (NYSE:JNJ) shares ticked up today on first-quarter results that were mixed compared to the consensus forecast. The New Brunswick, New Jersey-based company posted profits of $5.1 billion, or $1.93 per share, on sales of $23.4 billion in the first quarter for a 16.9% bottom-line slide on sales growth of nearly 5%. Get the…