Former J&J executive is tipped to become Biogen CEO – Stat News
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Mathai Mammen, former head of global R&D at the Janssen unit of Johnson & Johnson (JNJ), has emerged as the leading contender to become the Chief Executive of Biogen (NASDAQ:BIIB), Stat News reported Friday, citing sources familiar with the discussions.
With its Q2 2022 financials, BIIB announced that its CEO Michel Vounatsos who has led the company since 2017, had decided to step down, and the company started an executive search to find his replacement.
A Biogen (BIIB) Spokesperson told Seeking Alpha that the company's search for new CEO is continuing, "and in the meantime, Michel Vounatsos and the leadership team are focused on delivering on the company's mission and business priorities."
Vounatsos's departure followed FDA approval of Alzheimer's therapy Aduhelm under controversial circumstances in 2021. In March, the company limited the marketing support for the anti-amyloid antibody as its sales disappointed amid payer pushback.
In August, JNJ announced that Mammen, who joined as the Head of Global R&D of its Janssen unit in 2017, would leave his position as Executive Vice President, Pharmaceuticals. Mammen refused to comment on the development to Stat News, citing the ongoing transition from JNJ.