Amylin Pharmaceuticals has taken another step forward in its long & storied history. The company has announced that former Novartis executive Paulo Costa will become its new chairman.
Amylin’s story reads like a war novel. The company was formed in 1987, went public in 1992 and signed a much-heralded partnership agreement with J&J in 1995. The relationship flamed out spectacularly three years later after $200M in investment & no results. Rejection by an FDA panel was followed by a surprise reversal and a product approval from the agency. Joe Cook came out of retirement to become the company’s CEO & Chairman. A deal with Eli Lilly ensued and the company was given new life. Most recently, the company has faced a bitter proxy battle for control of the organization led by Carl Icahn, which ultimately led to Cook’s removal.
Now enter Paula Costa. Costa is a veteran of the industry who previously led Novartis in the United States and has inherited a troubled organization. Immediate issues include finding a way to better market Byetta and seeking approval of a follow-on product to secure their position in the market.
Here’s hoping Amylin can now look forward beyond its storied past and find a way to realize its potential.
Beaker's Blog 
[…] Amylin to be led by former Novartis exec – Amylin Pharmaceuticals has taken another step forward in its long & storied history. The company has announced that former Novartis executive Paulo Costa will become its new chairman…more […]