Amylin takes a step forward beyond its own shadow

CostaAmylin 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.

Advertisements

One Response

  1. […] 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 […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: