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CEO of PixarBio Corporation sentenced to prison for defrauding investors

Frank Reynolds, the CEO of Boston based PixarBio Corporation, was sentenced to seven years in prison for defrauding investors and obstructing a federal investigation.

This follows a federal jury convicting Reynolds back in October, in which they said he had carried out manipulative trading of the company’s shares to defraud investors while making false statements about the company’s finances and the timeline for the FDA’s approval.

FibroGen rocked by unexpected death of CEO Thomas B Neff

In a saddening turn of events, San Francisco-based FibroGen has announced that Thomas B Neff, its Chief Executive Officer and Chairman of the Board of Directors, unexpectedly passed away over the weekend.

The company released a statement alongside the news which praised Neff for a “legacy of innovation and dedication that has been rarely matched in this industry”.

Allergan shareholders reject proposal to split roles of chairman and CEO

Allergan shareholders have rejected a proposal to immediately separate the roles of CEO and chairman, both of which are currently held by Brent Saunders.

The proposal, put forward by hedge fund Appaloosa, was rejected by 61.3% of shareholders.

“The Allergan board appreciates the support of our shareholders reflected in the voting results” Allergan said. The motion comes after the company agreed to split the roles in the next leadership transition.

Insys Therapeutics names current CFO Andrew Long as company's new CEO

Insys Therapeutics has said Andrew Long will take over from Saeed Motahari as the company’s new CEO.

The opioid drugmaker said the decision had come after Motahari agreed to step down from the position of President and CEO.

The firm, who have faced legal issues over the marketing of their fentanyl based spray Subsys, have seen a series of successions in recent years after CEO Michael Babich was arrested in 2016.

Crescendo Biologics selects current CFO Theodora Harold as new CEO

Published on: 04/04/19

Cambridge, UK-based Crescendo Biologics have said current Chief Financial Officer (CFO) Theodora Harold will take over from Dr Peter Pack as the company’s new CEO.

Cambridge University graduate Harold will succeed Dr Pack at the beginning of next month, after he steps down from his current position on 1 May 2019.

Pfizer CEO Ian Read's pay packet cut from $27.9m to $19.5m

Ian Read has seen his total compensation cut from a sum of $27.9 million in 2018 to $19.5 million this year.

Pfizer previously boosted CEO Ian Read’s total pay packet from a sum of $17.3 million in 2016 to a total of $27.9 million the following year, as part of an effort to ensure the Scottish-born pharma chief stayed on the job, according to Bloomberg.

Sandoz CEO Richard Francis to step down

Richard Francis is set to step down his role as Chief Executive of Novartis’ generics arm Sandoz after five years’ in the role, citing “personal reasons” for his departure, its parent company announced in a statement.

Francis arrived in the role in 2014, following a 13-year tenure at Biogen, where he most recently served as Senior Vice President of its US commercial organisation. Francesco Balestrieri, the current Region Head Europe at Sandoz, will take over the reins at the company on an interim basis, it was also confirmed.

Sunovion CMO Dr Antony Loebel made company's new CEO

Published on: 05/03/19

Japanese drugmaker Sunovion Pharmaceuticals has made their current Chief Medical Officer (CMO) the company’s new Chief Executive Officer (CEO). Dr Antony Loebel will succeed Nobuhiko Tamura who has headed the company since 2014.

Pharma chiefs will testify at Senate hearing on rising drug prices

The Chief Executives of Pfizer, Sanofi and Bristol-Myers Squibb have said that they will join four other pharma execs in testifying at a Senate hearing on the rising price of prescription drugs.

The CEOs will join Ken Fraizer the CEO of US firm MSD, in testifying at the senate hearing on 26 February. Jennifer Taubert, J&J’s head of global pharmaceuticals will also appear in front of the senate, it was announced on Wednesday.

Richard Ridinger resigns from CEO position at Lonza causing shares to plummet

Published on: 30/01/19

Richard Ridinger, the CEO of Swiss biotechnology firm Lonza Group, will step down from his position in March of this year.

The 60 year old CEO will remain with the company until the end of April and will be available to Lonza as an advisor until the end of 2019. However he will leave his role on 1 March.

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