Bio Job Blog : Bio Jobs : Biotechnology Jobs : Biopharmaceutical Jobs : Bioscience, Biotech Jobs : Bio Job Blog : Biocareer : Bio-Business Training, Biotechnology Training : Jobs in Biology : Internships in Biology : Internships in Biotechnology

Annually, the Street.Com surveys its readers to identify the year’s worst biotechnology CEO. Yes, despite large salaries, great benefits and, in most cases, outstanding employees, the executives who make the list just can't seem to do the job right.

The 2011 survey was just released and this year’s five worst CEOs are: 

1. Mitch Gold—Dendreon Corp
2. Greg Divis, Jr—KV Pharma
3. Al Mann—Mannkind Corp
4. Joe Zakrzewski—Amarin Corp
5. John Martin—Gilead Life Sciences

Other notable nominees included: Elan Pharmaceutical’s Kelly Martin, Genzyme’s Henri Termeer and Dan Bradbury of Amylin Pharmaceuticals.

Honorable mention awards went to Jim Bianco of Cell Therapeutics, Doug MacLellan of Radient Pharmaceuticals and Brian Culley of Adventrx Pharmaceuticals.

Despite these dubious distinctions, I would like to be earning their annual salaries and bonus compensation packages!

Until next time...

Good Luck and Good Job Hunting (I would avoid the companies whose CEOs made the list)

• Email This
• Print
• Comments
• Trackbacks
• Share Link

While big pharma companies continue to shed jobs, there are some indications that the biotechnology industry is beginning to pick up some steam. For example, Boehringer Ingelheim (both a drug development and biomanufacturing company) is planning a $383 million expansion of its facilities in Ridgefield, CT. Likewise, Cary, NC-based Biologics a biotech cancer treatment company expects to almost double it staff from 85 to about 150 employees by the end of 2012. Finally, Gilead Sciences is undertaking a massive expansion of its Foster City corporate headquarters and expects to increase its workforce there from 1,700 to as many as 3,400 workers.

Although these expansions are only a few in number, they may be a harbinger of things to come in the US life sciences industry. One can only hope!

Until next time...

Good Luck and Good Job Hunting!!!!!

• Email This
• Print
• Comments
• Trackbacks
• Share Link

As you all know by now, Merck announced on Monday that it will purchase Schering Plough for $41.1billion in a deal constructed as a reverse merger. The reverse merger strategy was concocted to prevent the new company from losing the international sale rights to Remicade, Johnson and Johnson’s lucrative, blockbuster rheumatoid arthritis drug. According to the original deal inked by Johnson and Johnson and Schering Plough, Schering would have to surrender its rights to Remicade— which generated $2.1 billion in sales outside of the US last year —and golimumab (which is pending approval in Europe) if current ownership of Schering changes. Golimumab (CNTO 148) is Johnson and Johnson’s Centocor division next-generation human anti-TNF-alpha monoclonal antibody be developed as monthly subcutaneous treatment for adults with active forms of rheumatoid arthritis, psoriatic arthritis and ankylosing spondylitis.  Since the merger was announced on Monday, Johnson and Johnson hasn’t issued any public statements about the deal—prompting some analysts to speculate that Johnson and Johnson may well make a counteroffer to acquire Schering Plough. Others believe that Johnson and Johnson will challenge the new company’s international rights to Remicade and golimumab despite the great lengths that Merck and Schering Plough management went to structure the acquisition as a reverse merger. Stay tuned for updates.

In other merger news, US-based Gilead announced that it will acquire CV Therapeutics for about $1.4 billion. The deal tops the hostile takeover offer from Astellas Pharma of Japan. Gilead, an HIV drug manufacturer is purchasing CV Therapeutics—which sells the cardiovascular drugs Ranexa (chronic angina) and Lexican (reduces stress during cardiovascular surgical procedures)—to expand its therapeutic repertoire beyond virology. The stock prices of shares of Gilead and CV Therapeutics jumped after the announcement signaling Wall Street’s approval of the deal.   Nevertheless, it may be premature for Gilead and CV Therapeutics to begin celebrating—Astellas may very well tender a counteroffer!

Until next time...

Good Luck and Good Job Hunting!!!!!!!!!

• Email This
• Print
• Comments (2)
• Trackbacks
• Share Link

Until recently, Amgen dominated the biotechnology industry and was anointed the world's largest biotechnology company.  However, Amgen recently lost its number 1 ranking to Genentech.  Over the past year or so, Amgen, which is now ranked number 2,  has been acting a lot  like Avis,  the car rental company , which in the 1970s adopted the slogan  “Avis: We Try Harder” when it was number 2 to Hertz in the car rental rankings.  Like Avis, which never overtook Hertz to claim the number 1 spot,  Amgen’s efforts to regain its number 1 ranking are failing.

Today, market analysts noted that, for the first time, Gilead Sciences had overtaken Amgen as the world's second most highly-valued biotech company. Genentech still maintains its comfortable number 1 ranking with an extraordinary market capitalization of more than $83 billion. That said, it is still somewhat of a horse race between Gilead and Amgen for the number 2 spot– as of this morning, Amgen's market cap was approximately $43.5 billion whereas Gilead's was $45.5 billion. Amgen is still ranked highest when it comes to annual revenues: $14.8 billion in 2007 versus Genentech's $11.7 billion and Gilead's $4.2 billion.

Are rankings really that important? Maybe we should ask the Georgetown and Duke men’s basketball teams after this weekend’s NCAA second round tournament games! They might have some interesting insights to share.

Until Next Time….

Good Luck and Good Job Hunting (Stay out of A Thousand Oaks)

• Email This
• Print
• Comments
• Trackbacks
• Share Link