Biogen Makes Counterintuitive Move To Tap Exelixis's Scangos As CEO
Shortly after the market closed on June 30, Biogen Idec and Exelixis confirmed leadership changes that will result in Exelixis's long-time CEO George Scangos taking the helm of the Big Biotech July 15
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CEO George Scangos built Biogen into an innovative biotech, but his departure, coming as the company dusts itself off after a fall from glory, increased speculation Biogen could become a takeout target.
After an impressive commercial run for Biogen Idec, with four drug launches in two years, it’s up to R&D to deliver more innovative medicines. The bar is high in the areas of neurology Biogen is exploring; Chief Medical Officer Alfred Sandrock discussed the company’s R&D momentum in a recent interview.
The spec pharma had a strong year and will continue to rely on new product launches going forward, but hopes to bolster its pipeline with early-stage add-ons.