Sarepta signs former Allergan exec to top slot
- Sarepta Therapeutics has appointed Douglas Ingram as president and CEO of the RNA-focused company. Former CEO Ed Kaye will stay on in an advisory capacity.
- Ingram previously served as the president of Allergan until it merged with Actavis in 2015. Before that role, he worked for Allergan out of London as the president of Europe/Middle East/Africa. He held a variety of positions across the company before that.
- Ingram also has experience as a company head. He served as president and CEO of Chase Pharmaceuticals, a company focused on neurodegenerative diseases, before it was acquired by Allergan.
After gaining approval for its controversial Duchenne muscular dystrophy (DMD) drug last year, Sarepta has moved into the realm of commercial-stage company for the first time.
While the drug had about $5.4 million in sales during the first quarter, it has hit its share of roadblocks. Approval of the drug was called into question on a number of occasions, with many wondering if the Food and Drug Administration would green light the drug given limited signs of efficacy.
Due to this controversial ok, some major insurers have put restrictions on coverage.
Analysts see the shift from Kaye to Ingram as a positive for the company. Ingram brings more than 20 years experience and has the know-how to help the little biotech manage a turbulent commercial market. Ingram is credited with helping to transform Allergan during his time there and was integral in defending the company against a Valeant takeover bid.
He also brings significant neurodegenerative experience through his time at Chase — particularly fitting as Sarepta is a neurodegenerative-focused company.
"Today’s announcement may reignite M&A expectations, as investors are likely to point to the sale of Mr. Ingram’s last two companies as evidence that Sarepta is on the auction block, in which case Mr. Ingram’s experience would prove highly valuable," said RBC Capital Markets analyst Matthew Eckler.
"However, we also think that same deal-making experience could benefit the company’s recent penchant for in-licensing of DMD assets to expand the pipeline."
- Sarepta Therapeutics Press release
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