AbbVie investors agitate for chair-CEO split, flagging bonus pay and Humira hikes

AbbVie | April 02, 2019

AbbVie investors are calling for a separation of powers in the C-suite, citing Chairman and CEO Richard Gonzalez's outsized pay package and the company's "thicket" of Humira patents. In an SEC filing Monday, AbbVie investor and Rhode Island General Treasurer Seth Magaziner threw his weight behind a shareholder resolution that would split the board chairman and CEO positions after Gonzalez leaves the company. Magaziner ticked off a series of reasons why AbbVie needs more oversight, including the repeated price hikes that have fueled Humira sales growth. He also cited AbbVie's aggressive Humira patenting, a technique that's prolonged the drug's monopoly and spawned at least two court cases. And then there's Gonzalez's $4 million bonus, which drew fire in a recent congressional hearing.

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Christine Buckley, the executive director of the Brain Aneurysm Foundation, talks about efforts to raise awareness of the health problem, advance research, and help families affected. Interview for BNN News. Aired September 25, 2018.


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BUSINESS INSIGHTS

Ligand Pharmaceuticals Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Ligand Pharmaceuticals | August 02, 2022

Ligand Pharmaceuticals Incorporated announced that effective August 1, 2022, Ligand’s Board of Directors approved the grant of non-qualified stock option awards to purchase an aggregate of 90,073 shares of its common stock, 5,000 restricted stock units and 4,000 performance stock units the target level to six non-executive employees. The options were granted on August 1, 2022, and the grant date for the RSUs and the PSUs will be the date on which Ligand files a Form S-8 Registration Statement to register the shares pursuant to Ligand’s 2022 Employment Inducement Plan. The awards were granted under the Inducement Plan as employment inducement awards pursuant to NASDAQ Listing Rule 5635(c)(4). The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Ligand, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Ligand, pursuant to Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $89.70 per share, which is the closing price of Ligand’s common stock on The Nasdaq Global Select Market on August 1, 2022. The stock options have a term of ten years and will vest over four years, with 12.5% of the shares vesting six months after the employee’s commencement of employment and the balance of the shares vesting in 42 equal monthly installments thereafter, subject to the grantee’s continued service on such vesting dates. The RSUs will vest over three years on the first three anniversaries of the grantee’s commencement of employment, subject to continued service through each applicable vesting date. The PSUs will vest based on the achievement of certain total shareholder return objectives and the completion of the contemplated spin-off of OmniAb, Inc. from Ligand. The number of shares earned under the PSUs may be up to 6,500 in the aggregate if maximum performance levels are achieved. About Ligand Pharmaceuticals Ligand is a revenue-generating biopharmaceutical company focused on developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. Our business model creates value for stockholders by providing a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Our goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable, diversified and lower-risk business than a typical biotech company. Our business model is based on doing what we do best: drug discovery, early-stage drug development, product reformulation and partnering. We partner with other pharmaceutical companies to leverage what they do best (late-stage development, regulatory management and commercialization) ultimately to generate our revenue. Ligand’s OmniAb® technology platform is a patent-protected transgenic animal platform used in the discovery of fully human monoclonal and bispecific therapeutic antibodies. The Captisol® platform technology is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Ligand’s Pelican Expression Technology® is a robust, validated, cost-effective and scalable platform for recombinant protein production that is especially well-suited for complex, large-scale protein production where traditional systems are not. Ligand has established multiple alliances, licenses and other business relationships with the world’s leading pharmaceutical companies including Amgen, Merck, Pfizer, Sanofi, Janssen, Takeda, Gilead Sciences and Baxter International.

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BUSINESS INSIGHTS

Verizon Business Selected to Transform Astellas Pharma’s Global Network Infrastructure

Verizon Sourcing LLC | August 10, 2022

Verizon Business has been selected to manage Astellas Pharma Inc’s global network infrastructure. The network transformation will enable Astellas to harness advanced technologies to help reduce drug development timelines, healthcare costs and drive new revenue opportunities for the Japanese pharmaceutical multinational. Headquartered in Tokyo, Japan, Astellas is a global pharmaceutical company involved in the research, development, manufacture, and marketing of innovative new drugs under the vision of “Stand on the forefront of healthcare change to turn innovative science into VALUE for patients”. The company employs 14,000 employees worldwide. The company has identified digital transformation as a key driver of its business growth and began the search for a global partner to transform all aspects of its global technology infrastructure including building, designing and executing a next-generation secure network. In particular, Astellas was looking for a scalable and predictable platform that could seamlessly manage tens of thousands of devices and endpoints across Astellas’ 70+ global locations across a virtualized multi-sourced environment. Verizon’s relationship with Astellas stretches back more than a decade. In 2016, Astellas successfully deployed Verizon’s Secure Cloud Interconnect solution to provide a high-bandwidth secure connection to its Amazon Web Services and Microsoft Azure cloud services. Verizon’s current remit includes the build and deployment of Astellas’ global integrated network with a full suite of managed services, including Managed Wide Area Network, Local Area Network, Managed Security Services Secure Gateway, Zero Trust Network Access and Unified Communications and Collaboration as a Service. “From R&D to sales, we are seeing enormous amounts of data and intelligence flow through our business, across our 70 locations around the world. We want to ensure that we have a future-proof network in order to utilize cutting-edge technologies such as Artificial Intelligence, machine learning and robotics to make data-driven decisions to deliver better value for our patients. Our network transformation will underpin the next phase of our growth.” Shinya Suda, Senior Vice President, Information Systems, Astellas “The network is transformative in its ability to enable innovation and growth and Astellas is changing the way they are using the tools at their disposal to completely revolutionize their business. This is truly a watershed moment for the pharmaceutical industry as companies grapple with the pressures of reducing time and costs for the development of drugs while improving patient care and value. We’re proud to have been a part of Astellas’ growth journey for more than a decade,” said Robert Le Busque, Regional Vice-President, Verizon Business Group, Asia Pacific. Today’s announcement builds on the company’s network-as-a-service foundation and supports its private networks, mobile edge compute and business solutions vectors of growth. Verizon Communications Inc. was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control. VERIZON’S ONLINE MEDIA CENTER News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed.

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PHARMA TECH

ArisGlobal Accelerates Growth Announces Executive Evolution

ArisGlobal | September 08, 2022

ArisGlobal, the leading provider of life sciences software that automates core drug development functions with its end-to-end technology platform LifeSphere®, today announces an expansion to its C-suite. James Jarrett is the company's new Chief Financial Officer, Kathleen Turland joins as the first Chief Legal Officer, and Aman Wasan has stepped into the new role of Chief Commercial Officer. The three appointments are happening during a time of significant momentum for ArisGlobal, which has experienced annual recurring revenue growth of 34% in the first half of 2022 YoY. James Jarrett, Chief Financial Officer Jarrett brings over a decade of executive leadership experience driving revenue and cash flow growth. He has partnered with management teams and boards of directors of high-growth, highly leveraged companies undergoing rapid change. Prior to joining ArisGlobal, he served as the CFO for Emergence Health Holdings, Carewell Urgent Care, and ProCure Proton Therapy Center. Kathleen Turland, Chief Legal Officer Turland is a global strategic leader with more than 20 years of legal experience. She brings her broad range of legal and business skills to ArisGlobal, having worked with companies experiencing significant growth and expansion over the years, including General Electric, and FUSE Group. She started her legal career in New York, clerking for a Federal Court Judge, and working at two revered New York law firms. Aman Wasan, Chief Commercial Officer Wasan is an expert in general management and commercial leadership with a deep understanding and knowledge of drug safety and clinical research. Since joining ArisGlobal in 2018, Wasan has excelled in six different positions, most recently as Senior Vice President of Global Commercials, where he managed global enterprise business. Before joining the ArisGlobal team, Wasan worked for Bioclinica as the company's Global Head of Safety and Regulatory Services. "As we continue scaling our business and building new functions to better serve our customer base, expanding our C-suite will help us execute our mission and further drive our success in the life sciences industry. James, Kathleen, and Aman carry a wealth of industry knowledge instrumental in empowering ArisGlobal to further expand its customer pipeline, continue to develop innovative technology, and maintain a role as a trusted leader in the market." CEO Mike Gordon Turland's addition to the company also represents consistent and focused efforts by ArisGlobal to continually put women in positions of leadership. Turland joins ArisGlobal veterans Ritu Shrivastava, Vice President Corporate Development, and Heidi Hattendorf, Vice President of Marketing, on the executive team. Currently, ArisGlobal also has women in core leadership positions across business, product, quality, people, and technology functions. About ArisGlobal ArisGlobal is led by passionate individuals who support life sciences leaders in developing and monitoring breakthrough medicines and therapies. With more than 35 years of expertise in the life sciences industry, ArisGlobal develops technology products within the platform LifeSphere to power pharmaceutical and biotech research and development. Building on our commitment to corporate social responsibility and sustainability initiatives, we give back to the communities where we live and work – in the U.S, Europe, India, Japan, and China.

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PHARMA TECH

Innate Pharma to Present Lacutamab PTCL Phase 1b Design and ANKET™ Platform at ESMO 2022

Innate Pharma | September 06, 2022

Innate Pharma SA announced that the following presentations will be presented at the ESMO Annual Meeting 2022 taking place from 9 to 13 September 2022, in Paris, France. About Lacutamab Lacutamab is a first-in-class anti-KIR3DL2 humanized cytotoxicity-inducing antibody that is currently in clinical trials for treatment of cutaneous T-cell lymphoma an orphan disease, and peripheral T cell lymphoma. Rare cutaneous lymphomas of T lymphocytes has a poor prognosis with few efficacious and safe therapeutic options at advanced stages. KIR3DL2 is an inhibitory receptor of the KIR family, expressed by approximately 65% of patients across all CTCL subtypes and expressed by up 90% of patients with certain aggressive CTCL subtypes, in particular, Sézary syndrome. It is expressed by up to 50% of patients with mycosis fungoides and peripheral T-cell lymphoma. It has a restricted expression on normal tissues. About ANKET™ ANKET™ is Innate's proprietary platform for developing next-generation, multi-specific natural killer cell engagers to treat certain types of cancer. This versatile, fit-for-purpose technology is creating an entirely new class of molecules to induce synthetic immunity against cancer. It leverages the advantages of harnessing NK cell effector functions against cancer cells and also provides proliferation and activation signals targeted to NK cells. Our latest innovation, the tetra-specific ANKET molecule, is the first NK cell engager technology to engage activating receptors via a single molecule. About Monalizumab Monalizumab is a potentially first-in-class immune checkpoint inhibitor targeting NKG2A receptors expressed on tumor infiltrating cytotoxic CD8+ T cells and NK cells. NKG2A is an inhibitory checkpoint receptor for HLA-E. By expressing HLA-E, cancer cells can protect themselves from killing by NKG2A+ immune cells. HLA-E is frequently overexpressed in the cancer cells of many solid tumors and hematological malignancies. Monalizumab may reestablish a broad anti-tumor response mediated by NK and T cells, and may enhance the cytotoxic potential of other therapeutic antibodies1. The ongoing development for monalizumab is focused on investigating monalizumab in various combination strategies in different malignancies, including, in early lung cancer, the Phase 3 PACIFIC-9 study in adults with locally advanced (Stage III), unresectable NSCLC, who have not progressed following platinum-based concurrent chemoradiotherapy, and the Phase 2 NeoCOAST-2 study in the neoadjuvant early-stage setting of NSCLC. About Innate Pharma Innate Pharma S.A. is a global, clinical-stage oncology-focused biotech company dedicated to improving treatment and clinical outcomes for patients through therapeutic antibodies that harness the immune system to fight cancer. Innate Pharma’s broad pipeline of antibodies includes several potentially first-in-class clinical and preclinical candidates in cancers with high unmet medical need. Innate is a pioneer in the understanding of Natural Killer cell biology and has expanded its expertise in the tumor microenvironment and tumor-antigens, as well as antibody engineering. This innovative approach has resulted in a diversified proprietary portfolio and major alliances with leaders in the biopharmaceutical industry including Bristol-Myers Squibb, Novo Nordisk A/S, Sanofi, and a multi-products collaboration with AstraZeneca.

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Spotlight

Christine Buckley, the executive director of the Brain Aneurysm Foundation, talks about efforts to raise awareness of the health problem, advance research, and help families affected. Interview for BNN News. Aired September 25, 2018.

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