Anavex Life Sciences Corp (AVXL)

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BIOPHARMADIVE

BRIEF
Biogen's R&D head is out, following string of clinical setbacks

By Jacob Bell
Published Oct. 1, 2019
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Dive Brief:
Biogen has a new R&D leader, announcing Tuesday that Michael Ehlers will leave on Oct. 11 and, effective immediately, pass his duties on to Chief Medical Officer Alfred Sandrock. Ehlers is heading to Apple Tree Investors, a life sciences fund where he'll serve as chief scientific officer and, for a portfolio company called Limelight Bio, CEO.
While the early days of Ehlers' three-year stint were marked by the approval of Spinraza, Biogen's now-blockbuster spinal muscular atrophy drug, recent clinical setbacks have cost the company billions of dollars in market value. Most notable is the failure of its prized Alzheimer's disease drug, aducanumab.
According to a company release, Sandrock will continue to serve as chief medical officer in addition to taking on the executive vice president of R&D role. Sandrock has been with the company for 20 years.
Dive Insight:
Ehlers saw first hand the high risk, high reward nature of Biogen's business, though his departure comes at a time when the risks have dominated.

Biogen operates in the complex world of neuroscience drugs, which have a poor track record in the clinic. While the company found success in multiple sclerosis and spinal muscular atrophy, its work in Alzheimer's, pain and stroke hasn't been so fruitful.

I haven't seen any discussion about this departure on the message board.
Yesterday's Biogen's PR appears to be another one of their smoke and mirrors to combat Anavex's possible forthcoming announcements and to cover for Ehlers' departure.
I believe most on this board know and have discussed BIIB's purpose but it probably sucked in many uninformed about Bio's MO.